Huge Insider Trading Web To Face Charges

Quote from shortie:

i hope the insiders will burn in hell!
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Why?

Members of Congress can trade on any information including legislation that may have an impact on the companies.

Sooooo....

No biggie..
 
Quote from nutmeg:

Members of Congress can trade on any information including legislation that may have an impact on the companies.......
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Doesn't apply to Congressional staffs either. It seems it is one of the perks of the job.

Probably, if it did, there wouldn't be anyone left in Congress. They would all be in jail.
 
Quote from nutmeg:

Why?

Members of Congress can trade on any information including legislation that may have an impact on the companies.

Sooooo....

No biggie..
More...

Which party is going to abolish that so I can see change I can believe in?


...and why does Goldman Sachs always show up in stories like this...?
 
Quote from MarketMasher:



...and why does Goldman Sachs always show up in stories like this...?
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What's good for Goldman Sachs is good for the country.

Ahem... Harammppphhh. harammmphh. It's our culture.:D
 
It said they are going after "expert networks." Is asking some purchasing manager at a tech company "how's business" insider info or just doing good research? If you ask the guy at Best Buy how many tv's their selling, is that material non-public information? It's not like Best Buy management is sharing that info with the public. I'm guessing this will fizzle out worse than the Adam Morrison NBA career.
 
The sec has zero desire to actually go after these crooks, 90% of the time that a stock breaks badly intraday, it had sold off hard before regardless of the market. How hard would it be for the SEC to actually look at who was selling/buying a stock intraday right before a major announcement no one saw coming? If they had any interest in busting insider trading they could easily start from there and they would have a lineup of criminals so long they wouldnt know what to do with it all.
 
Insider trading prosecution is a cul de sac. Anyone with experience in business and politics knows that you can deduce the next move both in markets and politics. Often it is easier to deduce what comes next rather than rely on some 'insider' information so-called.

Anyone, who for one reason or another, is close to a company or follows its affairs very closely often cannot help but become attuned to what will happen next in its price direction or its product development or in other events for a company.

Mostly insider prosecution rests on Mickey Mouse minor issues with the sole purpose of placing blame on hapless victims and winning kudos from the public and politicians. The regulatory authorities want to show that they are doing something because they cannot ever carry out their only real valid function: to prevent disaster.

This would have required regulatory authorities, for example, to sound the alarm over subprime mortgages very early. These morons did not. But Goldman Sachs and J P Morgan took early action to protect themselves from any bust in subprime mortagages. Thats the difference. Instead the regulators waste valuable time and money on pursuing endless side issues in a juvenile blame game that achieves nothing for future except the unneeded incubus of more and more bureaucracy.
:)
 
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