i read that the sales were part of a prearranged trading plan that had been submitted to the SEC some time ago...it will be interesting to see how the technicalities play out, i don't think its a typical insider trading issue...
its a private agreement in what should be a public market...the commercial paper market is a huge shell game and this new company they created is just going to delay the inevitable...their plan is to finance the purchase of assets from SIVs by issuing new commercial paper??? pffftt...this mess...
I believe a lot of the Citigroup options group (formerly Arbitrade and Knight Trading) is based out of Minnetonka still. They run curves from up there and have a hedge fund as well.