Senate Judiciary Commtt on Shrt Selling, hedge funds, and Analysis

why are they doing this?

because it started to get some headlines. so congresscritters decided they better do something!

it'll likely be a dressing down and insulting whoever appears, so that the critters can say they acted tough without any special interests around.

too bad nearly every other issue they decide is based off of who is paying their bills....
 
That's why it took so long to happen. Check and see who Shelby, Clinton, Schumer are getting their donations from. If you look in the beginning, Shelby is fighting with Spector as to who has jurisdiction. Shelby shot this down a year ago. He's a disgrace.

I think Spector said about ten times today, "jail". Judiciary is what it means. This is DOJ and Rico.

Interesting that Rocker didn't counter sue Byrne, and he didn't show today. Never mind. Spector said it. "We can get them here is we choose."
 
Quote from alanm:
Can someone comment on why this is the business of the judiciary committee?

Apparently I should have made myself clearer by emphasizing judiciary.

To answer my own question, according to http://judiciary.senate.gov/jurisdiction.cfm , within their jurisdiction is "Protection of trade & commerce against unlawful restraints & monopolies." I guess that's close enough.
 
Quote from flytiger:



Testimony of
Mr. Gary J. Aguirre
Former Investigator
U. S. Securities and Exchange Commission

http://judiciary.senate.gov/testimony.cfm?id=1972&wit_id=5485


Testimony of
Mr. Joseph McLaughlin
Partner
Sidley Austin LLP, Managed Funds Association



http://judiciary.senate.gov/testimony.cfm?id=1972&wit_id=5492 [/B]
More...

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Thanks for the link. especially those 2;
found something i had GOOG searched earlier but didn't find.

That is hedge funds manage 1.2 trillion;
Bond & equity markets =40 billion,
mutual funds manage 9.2 trillion
[Mr. Aguirre,SEC investigator]:cool:

Still reading it but interestingly the problem seems mostly confined to those who invest/trade off fundamentals, some are even accused of paying off/bribing fundamental analysts.
 
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