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From TFA: > “Back in 2003-5 a memo was created within the IRS noting who was permitted to participate in ‘insider trading’,” says this whistleblower. “The memo
by tanderson92 8y ago
From TFA:
> “Back in 2003-5 a memo was created within the IRS noting who was permitted to participate in ‘insider trading’,” says this whistleblower. “The memo noted that all IRS employees in the executive branch and those one step below (territory managers, etc.) were permitted to participate.”
This is not who decides what is 'permitted', which is of course within the purview of the SEC. The piece states:
> Why didn’t I bring these allegations to the proper authorities to investigate? I did and was essentially told to get lost
No, the author went to the IRS Inspector General, which is very much not the SEC. The SEC has a very popular (oversubscribed) whistleblower program which awards millions to those who provide material information or tips relating to such cases.
This article is, ahem, not credible.
- mavsman 8y agoThe New York Post always seems a little sketchy to me, based on the articles I've read and their trashy ads, but I'm not really sure if that's a valid conclusion or just a quick judgment.
- tanderson92 8y agoMy comment didn't mention the publication venue. Failure to understand that the SEC deals with insider trading is fatal to any credibility the author or the alleged whistleblower might have had about such an accusation.
- Someone1234 8y ago> This article is, ahem, not credible. It isn't "credible" because you don't like that the Whistleblower reported it to their own agencies watchdog instead of another agency? I don't follow what that has to do with the article's credibility at all...
- zaroth 8y agoPer the article the “whistleblower” reported nothing at all to the authorities.
- tanderson92 8y agoIt isn't credible because the IRS IG has nothing to do with securities law and so they aren't the proper authorities. A simple read of their website shows it exclusively has to do with proper application of internal revenue code.
- oxide 8y agoFair enough. I don't put a lot of stock in the SEC anyway, a 'who watches the watchers' lack of ironclad faith in these regulatory agencies tends to afflict me. That said, all credit to them when they do enforce.