3 ms·
> This is not a logical sentence It's illegal by definition. But since they can pay a fine for a net gain, you can say that they legally profit from doing some
by berns 6y ago
> This is not a logical sentence
It's illegal by definition. But since they can pay a fine for a net gain, you can say that they legally profit from doing something illegal.
- koheripbal 6y agoWhich is why the fines are always greater than the net gains. Obviously. Do you think the SEC is full of morons?
- pueblito 6y agoI’m sure the SEC is full of extremely intelligent and well educated people. I’m equally sure that most of them are corrupt and are part of the revolving door.
- girvo 6y agoThat’s only true if the SEC catches all instances of it by a particular company, no?
- cbozeman 6y ago> Which is why the fines are always greater than the net gains. The $3 billion in fines Wells Fargo paid versus the multiple billions it made from 2002-2015. The bank has almost $2 trillion in assets as of 2020. > Do you think the SEC is full of morons? No, worse. Cowards. Entirely too many see the SEC as a pathway to a high-paying job on Wall Street. You learn the ins and outs of compliance and go from a GS-8 - GS-13 making $70,000 - $150,000 a year, to making $1 million a year helping these banks, hedge funds, and other investors sidestep regulations by the most narrow of line-toeing.
- koheripbal 6y ago> $3 billion in fines Wells Fargo paid This had ZERO to do with Front Running.