3 ms·
That's funny, that in 2010 the Commodity Futures Trading Commission specifically banned the insider trade that bankrupted the Duke Brothers at the end of Tradin
by nicwolff 1y ago
That's funny, that in 2010 the Commodity Futures Trading Commission specifically banned the insider trade that bankrupted the Duke Brothers at the end of Trading Places!
Here's a direct link to the testimony mentioned in the Wall Street Journal:
https://www.cftc.gov/PressRoom/SpeechesTestimony/opagensler-30#:~:text=We%20have%20recommended%20banning https://www.cftc.gov/PressRoom/SpeechesTestimony/opagensler-...
- mikestew 1y agoReferenced in the doc as “the Eddie Murphy rule”.
- listenallyall 1y agoEven if the trading itself wasn't illegal, it had to be illegal to steal a government economic data report prior to its release, right? I mean, if you stole the monthly Non-Farm Payroll report and knew its contents ahead of its release, you could easily make millions of dollars. There is a reason it is released at a specific, scheduled time.
- IAmBroom 1y ago"Should be" != "had to be".
- JackFr 1y agohttps://www.nytimes.com/2003/11/13/business/economist-pleads-guilty-in-30-year-bond-trades.html https://www.nytimes.com/2003/11/13/business/economist-pleads... And disgorge your profits, pay a fine, go to jail and agree never to work in the securities industry ever again.