Four day traders charged with insider trading by SEC

I'm baffled. Shouldn't the investment bankers all be fired for revealing inside information to what they perceived as portfolio managers. Portfolio managers are not permitted to invest on inside information any more than traders are! The SEC should give these traders medals for exposing how apparently easy it is to obtain inside information from investment bankers if you claim to be a portfolio manager! (Of Course this is a media story -- Marketwatch. So who knows what the real truth is.)

This business highlights a point that needs to be made. Countries other than the U.S. don't have a problem with illegals working because they go after their employers rather than the illegals themselves. Therefore isn't the best way to stop trading on inside information to go after those who reveal the information rather than those who use it? Throw a few of these investment bankers in the slammer and investment bankers lips everywhere will be tighter than three bullfrogs in a fruit jar.
 
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marketsurfer said:
It's illegal to "trade" equities and equity derivatives on inside information. Not to give it out. surf
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Of course, Surf, we all understand that. But the point I was trying to make, apparently ineptly, was that if you wanted to stop insider trading you might do better to go after the people providing the information rather than the ones giving it out... If insider information is that easily obtained, doesn't that make a mockery of the entire enterprise of trying to control trading on insider information?
 
piezoe said:
Of course, Surf, we all understand that. But the point I was trying to make, apparently ineptly, was that if you wanted to stop insider trading you might do better to go after the people providing the information rather than the ones giving it out... If insider information is that easily obtained, doesn't that make a mockery of the entire enterprise of trying to control trading on insider information?
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No that's faulty thinking and could lead to very bad situation

Unless , Im not following you-- are you suggesting that information be stiffled since some bad actors might break the law with it?

I say prosecute the law breakers rather than folks giving out legal information.
 
Well the idea, dear Surf, is that when you give out self-serving, company information that will benefit your company's stock price you're supposed to release it to the public all at once, rather than dribble it out in pieces starting with your grandmother. In case you haven't figured it out, telling only your grandmother and three guys posing as portfolio managers is what makes it "inside information". On the other hand, when you're giving out information that is damaging to the stock price you are supposed to delay telling anyone anything until the only way to stay temporarily out of jail is to lie like hell, and then immediately go inside your house in the Hamptons and slam the door in the reporters face..
 
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