Shocking insider trading scandal today

[Pa(b)st Prime]

Probably the best solution would be no insider laws at all.

Prosecution is selective, the laws themselves are ambiguous.

 

[stock777]

Quote from archon:

3000? Wow...you are quite conservative with your estimate!

This really doesn't come as any surprise to me. Insider trading is an epidemic on Wall Streed and everyone knows it. Those "chinese walls" in the brokerage houses and Ibanks are nonsense.

Back in my market-making days on the CBOE, we used to leave the floor for the last ten minutes of the trading day. That was when all of the "pick off" paper would come in - i.e.-that's when all of the insider trading would happen, and you didn't want to be on the other side of those trades.

If these guys were smart, they would have used options to conduct their insider trading, then they never would have been caught. Everyone knows that oversight in the options biz is a joke.

Those were 3000 CROOK OPTIONS my friend, so you gots to mult by 100.

As to smart, most of the smart ones DO get away with it.

 

[TheDudeofLife]

[
They are going to white collar, they get conjugal visits there.



Conjugal visits? Mmmm. Not that I know of. Y'know, minimum-security prison is no picnic. I have a client in there right now. He says the trick is: kick someone's ass the first day, or become someone's bitch. Then everything will be all right. W-Why do you ask, anyway

 

[flytiger]

The hits just keep on coming......

http://www.forbes.com/business/2007/03/01/wall-street-scammers-biz-cx_lm_0301scammers.html

this is some sort of update. She says there is more coming.

 

[stock777]

Yeah thats some scandal.
Makes you all warm and fuzzy.

I have the pleasure of Jury duty next week.

Those guys for sure don't want me on that case.

Prob get a loitering and pissing on public property trial.

 

[bluud]

Quote from Pa(b)st Prime:

Probably the best solution would be no insider laws at all.

Prosecution is selective, the laws themselves are ambiguous.

agree

they probably got caught cause someone maybe in the SEC or something wanted a percent and didnt get it

 

[flytiger]

Quote from bluud:

agree

they probably got caught cause someone maybe in the SEC or something wanted a percent and didnt get it

What a horrible, disgusting, short sighted thing to think, much less say

 

[number22]

Quote from AK100:

Mugs. Should have moved to London and done it in the UK market.

Everyone knows that virtually NOBODY gets caught in London.

Canada is much closer; LOL

 

[bluud]

Quote from flytiger:

What a horrible, disgusting, short sighted thing to think, much less say

that's what I thought too!

 

[munebags]

You mean front-running is illegal?

My Daddy and Uncle both members of the club paid my way through college with the "secret handshake."

I'm confused.