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Even 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
by listenallyall 1y ago
Even 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.