Accused insider trader commits suicide.

Quote from olias:

Also, it's not hard for me to imagine if I had been at that firm and everyone is telling me 'this is the kind of thing that happens all the time', ''everybody's doing it'...I might be tempted to do the same thing. I really don't know.

OP, good topic for discussion. thanks
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If everyone at the firm was doing it, I'd be using that to my advantage as I speak to the prosecutors in the case.

I have zero sympathy for this guy. It should have been immediately obvious to everyone involved that this was illegal activity. The idea of a small financial penalty is ludicrous... otherwise, everyone should just try it, since the probability of being caught is substantially less than 25%.

Insider trading *should* be the third-rail of American business: if you do it, your (professional) life is over. It should be treated just like embezzlement or any other type of work-related fraud. This is not a victim-less crime.... everyone else trading in these stocks (as well as the company and every other employee) is being victimized when insider trading occurs.

And yes, probably other people should be prosecuted just as heavily... doesn't mean this guy should be given a free pass.
 
A sneaky weak minded thief.

Bold enough to commit the crime , be bold enough to sit your ass down & try again.

Human tax break. Saved us all some change. Tragic anyway you slice it.
 
Quote from stock777:

An American national would never have killed themselves.

Apparently the Chinese still have a tinge of honor.
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Honor would be ... I got drunk at a bar ,and on the drive home ran a light and killed somebody and detroyed someones family.

Then kill yourself . Thats honor.

Not stealing info & profitting from it. Once your caught & are facing time. Thats cowardice.
 
Quote from heech:

If everyone at the firm was doing it, I'd be using that to my advantage as I speak to the prosecutors in the case.

I have zero sympathy for this guy. It should have been immediately obvious to everyone involved that this was illegal activity. The idea of a small financial penalty is ludicrous... otherwise, everyone should just try it, since the probability of being caught is substantially less than 25%.

Insider trading *should* be the third-rail of American business: if you do it, your (professional) life is over. It should be treated just like embezzlement or any other type of work-related fraud. This is not a victim-less crime.... everyone else trading in these stocks (as well as the company and every other employee) is being victimized when insider trading occurs.

And yes, probably other people should be prosecuted just as heavily... doesn't mean this guy should be given a free pass.
More...

"everyone else trading in these stocks (as well as the company and every other employee) is being victimized when insider trading occurs."
prima facie nonsense. eg. if i sell 1 minute before a stock halt for news i would have been most happy if the news had leaked out and pushed up the price of stock in the days or weeks prior to the announcement.

"third rail of american business" from where do you come up with this clueless hyperbole?
there are many reasons why insider trading should be legalized.
banning insider trading does not not benefit the public.
below is just one of many articles that dispels the notion that insider trader is bad for john q. public.
http://www.forbes.com/2011/01/20/le...nomics-opinions-contributors-doug-bandow.html
 
Quote from Hollywood101:

Honor would be ... I got drunk at a bar ,and on the drive home ran a light and killed somebody and detroyed someones family.

Then kill yourself . Thats honor.

Not stealing info & profitting from it. Once your caught & are facing time. Thats cowardice.
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I think you have it wrong. A born and bred 'city' boy, would say fukkem all, and get on with their miserable lives. Give you the middle finger to boot.

This guy was truly ashamed and embarrassed.
 
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