Skip to comments.The SEC's Absurd War Against Insider Trading (Time to DEFUND?)
Posted on 11/24/2010 8:15:17 AM PST by USALiberty
More absurdity from the SEC this week.
The Wall Street Journal Reports they are now investigating what are known as Expert Networks. These are private consulting firms that specialize in providing information and expertise on particular industries and companies. Hedge funds and mutual funds hire them to get an investment edge.
The Journal highlights a company that is being probed by the SEC, which does "channel checks" with manufacturers of technology equipment for bigger companies. That kind of research gives insight into strength of order flow and can provide clues as to the direction of the industry. (Often times, they are run by, or staffed with, former employees of the companies in question. Sounds similar to the revolving door of members of congress who become lobbyists.)
(Excerpt) Read more at finance.yahoo.com ...
Time to de-fund the SEC.
Government shutdown is not the answer; de-funding is.
If the GOP does this, they’ll be home-town heroes; if they don’t have the b@lls to do it, all is lost.
Well...this should WAKE UP a few wall street people....
for a more complete picture i would strongly suggest EVERYONE go read what the Ticker Guy has said about this trading on inside information. The entire bunch belongs in JAIL FOR LIFE, and ALL ASSETS SEIZED