Cracked: One of the Biggest Wall Street Insider-Trading Rings

"Talk about raising suspicion. But what bugs me is that the brokers noticed these profitable trades and mirrored them.

What's to stop ANY broker from copying a successful trader?"

I remember brokers used to call me and say, "I noticed you have been trading x, y, and z on your account..." I thought to myself, if they allow low tier brokers to randomly read your acount like a newspaper, what's to stop them from mirroring the best account traders?

If the brokeredge houses don't allow anybody to stand over their shoulders and inspect thier activity, there is no way one could find out if this is happening.

Reminds me of the saying, "who watches the watchers." In the case of brokers, apparently, nobody.
 
I don't care that they copy my succesful trades, it pushes the stuff only in my direction, thank you BUT they should pay me some % of profits of their trades :D
 
they been working on this since 2001? typical of the government.
They catch a few of these every year, meanwhile, who knows how many they dont catch.

6 years, Almost Unbelieveable
 
The whole securities industry is a scam. It's designed to transfer wealth from the middle class to the well informed upper class. I think we have a much fair footing in a casino than in trading. At a casino everything is chance and there is no one that has any inside tips or insider info crap. Why do we even bother with stocks:confused:
 
Quote from Scalper007:

The whole securities industry is a scam. It's designed to transfer wealth from the middle class to the well informed upper class. I think we have a much fair footing in a casino than in trading. At a casino everything is chance and there is no one that has any inside tips or insider info crap. Why do we even bother with stocks:confused:
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Wow, you dont really think that do you..

Dollar cost avg into the indexes monthly or quarterly, do this for 40 years, enjoy your retirement... not a scam.
 
Quote from virgin:

I don't care that they copy my succesful trades, it pushes the stuff only in my direction, thank you BUT they should pay me some % of profits of their trades :D
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If they copy some of my trades...it would be punishment enough! :p
 
Quote from Scalper007:

The whole securities industry is a scam. It's designed to transfer wealth from the middle class to the well informed upper class. I think we have a much fair footing in a casino than in trading. At a casino everything is chance and there is no one that has any inside tips or insider info crap. Why do we even bother with stocks:confused:
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Wow.

The reality is that the market transfers wealth from the upper class to the lower classes.

Size works against you.

Jeese, the laws of this nation get enforced and people get even more negative.

Just because a guy can rob a bank doesn't make banks a scam.
 
Quote from Scalper007:

The whole securities industry is a scam. It's designed to transfer wealth from the middle class to the well informed upper class. I think we have a much fair footing in a casino than in trading. At a casino everything is chance and there is no one that has any inside tips or insider info crap. Why do we even bother with stocks:confused:
More...

Not if you buy S&P and hold it. If you trade actively, then you better be good enough to see what the big boys are doing and follow them.
 
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Poor greedy sons-of-guns, I actually feel sorry for them ... if they had worked at trying to make it legitemately 1/2 as hard as they worked at doing it crooked, they'd be much further along in life.

Now they, their families, their children, all gone to pot!

Sad.

JJ
 
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