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Perhaps those with the right type of political power/influence are able to shield their trading activity from SEC scrutiny. But trying to use this guy as an exa
by kyllo 13y ago
Perhaps those with the right type of political power/influence are able to shield their trading activity from SEC scrutiny. But trying to use this guy as an example of the "You commit three felonies a day" argument? Really?
Do we all commit three felonies a day unknowingly? Maybe. But the suggestion that tens of millions of dollars in insider trading falls into that category, is flat-out demented.
- moron4hire 13y agoNo, you're missing the point. It's not about obscuring anything from SEC scrutiny. The SEC sees everything that is going on. You don't even have to have used insider knowledge to be tagged with insider trading; the SEC says that it's enough to have had access to insider information to be guilty of insider trading. It does nothing about it because it would render Wall Street moot. Insider trading is so vaguely defined and broadly applied that it is a rule meant to be broken so they have something to blackmail you over when they decide they want to shove you around over something else.