U.S. in Vast Insider Trading Probe

**ladycat** · #1 11/19/10, 11:04 PM

Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation.

http://online.wsj.com/article/SB1000...LEFTTopStories

Tom in TN · #2 11/20/10, 12:08 AM

I don't see what the big deal is here. These folks are just trying to make a better life for themselves and their families. They're simply doing the jobs that honest Americans won't do. It seems to me that they are too big to fail. So what if it's illegal, maybe the laws need to be changed.

And anyway, this might be a good source of another voting block for us.

I say give them all amnesty.

Tom in TN

plowjockey · #3 11/20/10, 07:12 AM

"The most valuable commodity I know of is information"

Gordon Gekko

(from the original "Wall Street" movie 1987)

Did anybody see this movie and NOT think, this is exactly how our financial system works, in real life?

Beeman · #4 11/20/10, 07:43 AM

Imagine that, the game is fixed toward the house. Unfortunately nothing severe will be done as it might make the market drop and all we care about is the economy.

I do have an idea though, lets give them all of the SS money, we can trust them with it.

SquashNut · #5 11/20/10, 01:40 PM

Wasn't selling GM shares to china before they went on the market insider trading? Our goverment did it just last week.

tinknal · #6 11/20/10, 03:52 PM

Quote:

Originally Posted by Beeman

I do have an idea though, lets give them all of the SS money, we can trust them with it.

If we had there would still be more money there than what we did do with it.

Beeman · #7 11/21/10, 10:48 AM

Quote:

Originally Posted by tinknal

If we had there would still be more money there than what we did do with it.

Really! I'd rather have a promise from the US gov't then let them have my money. Maybe I can interest you in a few mortgage backed securities for your retirement investment, I heard they pay really well.

Nevada · #8 11/21/10, 11:23 AM

It's no secret that the Fed has been pumping money into the market since September, because Bernenke told us he would. If course telling us that encouraged people to join-in, since the market was bound to go up as a result. Of course the Dow went for a run-up of around 1500. Not bad.

But the problem with joining that bull run was that the Fed could pull out any time they wanted to, which they did about 2 weeks ago as evidenced by the bull run breaking. The Dow has lost about a third of those gains so far.

While supporting the market is difficult times is all fine and good, I can't help but believe that there are people who know the timing of what the Fed is doing. As plowjockey pointed out, "The most valuable commodity I know of is information".

That information could make you rich, and not knowing it could break you. I can't help but think that a lot of people were sucked-in to the bull run, only to be fleeced by Bernenke's friends when the axe fell.

If you're looking for insider trading, look for people dumping stock or buying puts at the beginning of November. I assure you that anyone who did that has ties that lead right back to Bernenke's doorstep.

tinknal · #9 11/21/10, 12:45 PM

Quote:

Originally Posted by Beeman

Really! I'd rather have a promise from the US gov't then let them have my money. Maybe I can interest you in a few mortgage backed securities for your retirement investment, I heard they pay really well.

Do you realize that there has never been a 15 year period that the market didn't gain? SS would be a long term investment. If the plan was structured so that money would move to low risk securities when retirement approached there would be virtually no risk.

Beeman, you do know that EVERY penny that you have paid into SS is gone now, right?

Nevada · #10 11/21/10, 12:54 PM

Quote:

Originally Posted by Beeman

Really! I'd rather have a promise from the US gov't then let them have my money.

We already have that. It was the Social Security reform act of 1984, aka Ronald Reagan's "iron clad" commitment to the American people.

The problem is that it was just another system where the government could steal the money.

But there was one difference after 1984, congress had to give the Social Security fund an IOU for any money that they took. We still have those IOUs.

bowdonkey · #11 11/26/10, 04:33 PM

Quote:

Originally Posted by Beeman

Imagine that, the game is fixed toward the house. Unfortunately nothing severe will be done as it might make the market drop and all we care about is the economy.

I do have an idea though, lets give them all of the SS money, we can trust them with it.

As always, you're right on Beeman.

fishhead · #12 11/27/10, 09:38 AM

Quote:

Originally Posted by Beeman

I do have an idea though, lets give them all of the SS money, we can trust them with it.

I have a better idea. SSS

I ran across something the other day that sent a chill up my back. It seems that Wall Street is sitting on mountains of cash and has now started to focus on "investing ie. gambling" in our food supply.

Have you noticed how food prices went up when gas spiked to $4/gal but then didn't come all the way back down when gas price dropped? Now they are creeping back up to that spike. I doubt they will stop when they reach the spike.

First it was our homes and soon it will be our food.

Trixie · #13 11/28/10, 01:11 PM

Quote:

Originally Posted by fishhead

I have a better idea. SSS

I ran across something the other day that sent a chill up my back. It seems that Wall Street is sitting on mountains of cash and has now started to focus on "investing ie. gambling" in our food supply.

Have you noticed how food prices went up when gas spiked to $4/gal but then didn't come all the way back down when gas price dropped? Now they are creeping back up to that spike. I doubt they will stop when they reach the spike.

First it was our homes and soon it will be our food.

That doesn't surprise me - they have been 'investing ie. gambling' with the price of oil for a long time - and no one did more than grumble - so why not food.

Nothing in this country operates on the supply and demand basis. Everything, especially our food supply, is manipulated by speculators, by subsidizing through the government, ridiculous trade deals, etc.

I guess I don't understand about farm subsidies - maybe someone can explain it.