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This is how the SEC spends its resources? This is considered newsworthy? $2M is considered material in 2021? If they'd been in charge of the WW2 military, in
by asah 5y ago
This is how the SEC spends its resources? This is considered newsworthy? $2M is considered material in 2021?
If they'd been in charge of the WW2 military, instead of Omaha Beach, we'd have a press release about one random dead Nazi.
- wpietri 5y agoYou seem to be implying this is the only thing they have done, which is odd. I think they should go after big fish of course. But there's also value in going after the littler fish. You don't want people thinking they can get away with insider trading if they just keep their crimes under the big-fish threshold. After all, there are a lot more little fish out there, and most serious criminals have a long pattern of escalation. It's valuable to keep people off the path entirely.
- renewiltord 5y agoThe SEC has a habit of going after all sorts of small fry. My favourite is when they went after this moron who made $3100 off call options by performing this elaborate scam to make it seem like Fitbit was being acquired. The guy is a class A dummkopf since he performed all this easily traceable nonsense for a miserable $3100. But it's still only $3100 hahaha. The only thing the press release is good for is for entertainment. https://www.sec.gov/news/press-release/2017-107 https://www.sec.gov/news/press-release/2017-107
- throwaway789256 5y agoI agree with this. The SEC cracks down on amateur inside-traders, because the professionals no how to cover their tracks: they have the resources to fight it in court; and the smart ones hire the SEC staff via the revolving door. This case is hilarious, and for that I applaud the SEC, but it's also theater.