Quote from sprstpd:
What if this guy was buying from Martha Stewart right before IMCL blew chunks? He is essentially proclaiming that insider trading rules shouldn't exist. When somebody says something like this, I have a problem taking that person's point of view seriously.
LOL.
Oh, so that's how the market in IMCL worked that day, did it? Thanks for showing us all just who's clueless about how the market works, supply and demand, and stock pricing.
The fact is, Martha's sale of her stock had no more impact on anyone, including Mr. Tracinski had he bought it, than had any of us decided to sell based on a cross-over down of a 20 period exponential moving average.
Prices move the way prices move.
The argument that someone had to have bought what Martha sold is completely hollow as justification for a morally-based indictment of a real crime in which someone else's individual rights were violated. NO ONE'S rights were violated by her sale of IMCL. So called "insider trading" (just like trying to destroy Microsoft because it's been successful) is a "made up" crime. A crime in this society (pitifully) but one that is without basis in a free society.
They spend all this time in trivial pursuits but do nothing to shut down out of control agencies such as the FDA. That's the one that determined, from its own paperwork issue, that Erbitux was not ready. Oh, then it was ready. Who destroyed more wealth of mom and pop? Whose arbitrary and capricious decisions wreak more havoc in the markets, if not this government's, day after friggin' day? In a free society, should things like the Fed and people like Greenspan really have that much impact?
Who's a greater threat to society? Miss Stewart or the fools that inhabit the various beauracracies in the federal government?
Prosecute Microsoft?
Drug laws?
Social Security?
Letting Bin Laden live after 1998 and AGAIN in that 3-day hiatus after the first bombing of Afghanistan for "religious" reasons???
I'm sorry, did someone say we're focusing on Martha Stewart because she (and the rest of us who act in our own interests) needs to be made an example of?
This is where we've decided to put our primary focus on? How long is the media been covering this? Going to be covering it?
Well, gosh, I guess it's better than a few thousand hours of Lacey Peterson's disappearance and her husband's murder trial. That kind of "pornography" continues unabated in the "news" media, while another ridiculous organization, the FCC, wants to make an example of those who accidentally showed a woman's breast on TV. (Last time I looked, we all have breasts. Duh.) And the media moguls fall over themselves to apologize.
But let's make an example of Martha Stewart. For protecting her own interests, lying to those who are liars themselves, and being a "tall poppy."