Update 20:00: In a public statement this evening, Rep. Collins announced that he is not going to resign his seat and will remain on the ballot in November. He refused to take any questions from the press. Shades of felon Michael Grimm (R-NY11). Arrogance and stupidity can be a fatal combination, especially to a Republican …
Tag: Insider Trading
Oct 29 2009
The Point Grayson was trying to make about The Fed
The only thing Alan Grayson should Apologize for …
was not having the Fed’s Price List
for their services!
(imo)
Perhaps Grayson can be excused, since “The Fed” does favors for its clients, far from the scrutiny of prying eyes … giving away Billions to their good ole Buddies, both Foreign and Domestic, without so much as a Receipt or and IOU exchanging hands …
It’s easy to see how this shady activity just might get “mis-construed”:
Alan Grayson: Which Foreigners got the Fed’s 500 Billion?
http://www.youtube.com/watch?v…
Jun 01 2009
It can Pay to be on the Inside
Usually they get away with …
Usually they trade their knowledge, for money or power, and no one notices —
But not always:
Insider-Trading Ring Bust May Fuel Hedge-Fund Concern
By David Scheer – March 2, 2007
March 2, (Bloomberg) — The U.S. government’s accusations that Morgan Stanley, UBS AG and Bear Stearns Cos. employees were central figures in an insider-trading ring illustrate why regulators and lawmakers are suspicious of Wall Street’s relationship with hedge funds.
Prosecutors in New York and Washington yesterday brought criminal charges against 13 people, claiming that an executive at UBS and a former compliance lawyer at Morgan Stanley tipped off hedge-fund traders and brokers to new analyst ratings and secret takeover talks. Bear Stearns was home to at least four professionals who traded on information leaked from inside the two firms, according to a complaint filed by the Securities and Exchange Commission.
(emphasis added)
http://www.bloomberg.com/apps/…
White Collar Crime, is not any less heinous, because they commit it with a Keyboard, instead of a Handgun. Yet more often than not, in the Wild West of electronic casinos, these criminals can make “a killing”, without having to pull that trigger themselves … without ever having to worry about ever facing their “day in court” …