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Keyword: insidertrading

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  • Ivan Boesky and the End of the '80s Wall Street Boom

    08/14/2017 4:19:55 PM PDT · by nickcarraway · 10 replies
    New York Daily News ^ | Monday, August 14, 2017 | Peter Grant
    It was the 17th of September 1986, and the curtain was now coming down on the greed-is-good Wall Street boom. On the surface, nothing seemed much different in the high-flying world of leveraged buyouts, corporate raiders, junk bonds and suspendered yuppies chasing dizzying amounts of money. But behind the scenes, one of the icons of this era was cutting a deal with federal agents and an ambitious U.S. Attorney named Rudolph Giuliani in the biggest insider-trading investigation in history. Ivan Boesky, the mega-rich and super-arrogant 49-year-old king of the arbitragers, was agreeing to sing like a platinum canary to get...
  • Homeland InSecurity: Former DHS Secretary & 3 Homeland Officials Pulled a Hillary Clinton

    02/15/2017 7:42:36 AM PST · by ReformedMedia · 6 replies
    The Washington Standard ^ | 02-14-2017 | Tim Brown
    Though former Homeland Security Secretary and "voice of the plight of Muslims" Jeh Johnson didn't set up an illegal private email server like former Secretary of State Hillary Clinton did, he did use private, unsecured email to conduct official business and discuss sensitive matters, according to watchdog Judicial Watch. According to 216 pages of documents, Johnson was not the only one who used unsecured emails to conduct official business and disclose sensitive material.  Deputy Homeland Security Secretary Alejandro Mayorkas, Chief of Staff Christian Marrone, and General Counsel Stevan Bunnell were the other three employees of DHS who did the same thing....
  • BACKSTORY Billionaire George Soros says he didn't have insider knowledge in Societe Generale case

    01/09/2004 12:02:56 PM PST · by Liz · 40 replies · 911+ views
    AP Worldstream | 11/08/2002 | VERENA VON DERSCHAU
    BACKSTORY 11-08-2002 Dateline: PARIS American billionaire investor George Soros, on trial in a 14-year-old insider trading case, told a court Friday that he didn't have privileged information when he bought shares in French bank Societe Generale. Soros and two other businessmen are on trial at the Paris Criminal Court, accused of benefiting from insider knowledge when they bought the bank's stock in 1988 before a failed takeover that pushed up the price. "I have been in business all my life and I think I know what is insider trading and what isn't," said the president of Soros Fund Management, in...
  • Hillary Sent Classified Email To Chelsea To Help Son-In-Law's Greek Fund

    11/05/2016 7:23:36 AM PDT · by Bon mots · 38 replies
    Twitter ^ | November 5, 2016 | Mike Cernovich
    Hillary sent classified email to Chelsea about the Greece debt crisis. Chelsea's husband runs a hedge fund trading Greek bonds. Insider trading!
  • UPDATING: NEW DNC LEAK – PAY TO PLAY, ELECTION FRAUD, INSIDER TRADING

    09/14/2016 6:51:18 AM PDT · by george76 · 26 replies
    PROJECT PURGE ^ | September 14, 2016 | Jared Wyand
    The DNC is operating an organized crime syndicate. There’s no way around it. They’re a “pay for play” black market for the buying and selling of political influence and U.S. assets. They’re a massive money laundering organization providing a gateway for every corporation and foreign government to outbid the best interests of the American people. They’re everything we feared cloaked by a layer of celebrities, pop stars, and smooth-talking politicians offering hope and change. The amount of corruption is overwhelming so we’ll keep an updated list of highlights here as they’re uncovered. Thanks to all the super sleuths sifting through...
  • Something Strange Emerges When Looking At A Congresswoman's Daytrading Records

    08/02/2016 2:55:19 PM PDT · by Nachum · 19 replies
    zero hedge ^ | 8/2/16 | Tyler Durden
    While we have often heard that members of Congress, who are not only exempt from insider trading oversight, are also ardent daytraders we had never seen it in action. Until now. The following publicly filed monthly Periodic Transaction Report by Democrat Congresswoman, Judy Chu, shows us just how pervasive daytrading is not only for algos, but for those who supposedly are paid to serve their constituents. What is interesting is the size of the trades - between $1,000 and $15,000 each, this is not some novice, penny pincher; what is even more interesting are the underlying securities of choice: volatile,...
  • Gambling debt, stock tip lead to $1 million settlement but no charges for Mickelson

    05/19/2016 5:44:38 PM PDT · by george76 · 22 replies
    Reuters ^ | May 19, 2016 | Joseph Ax
    Late in July 2012, Phil Mickelson, one of the world's most famous golfers, received a phone call from a well-known professional sports gambler, William "Billy" Walters. At the time, U.S. authorities say, Mickelson owed Walters a gambling debt, and Walters had a hot stock tip: buy shares in the food company Dean Foods Co. Four days later, Mickelson owned $2.4 million worth of Dean Foods shares, according to the U.S. Securities and Exchange Commission. A few weeks after that, he reaped a $931,000 profit when the company announced a spinoff that sent its share price soaring. Mickelson then paid off...
  • Paul Ryan sold shares on same day as private briefing of banking crisis

    05/09/2016 6:14:50 PM PDT · by Sybeck1 · 49 replies
    The Guardian ^ | 8/13/2012 | Dominic Rushe
    Paul Ryan, Mitt Romney's vice-presidential running mate, sold stock in US banks on the same day he attended a confidential meeting where top level officials disclosed the sector was heading for a deep crisis. The congressman on Monday denied profiting from information gleaned from the meeting on 18 September 2008 when Federal Reserve chairman Ben Bernanke, then treasury secretary Hank Paulson and others outlined their fears for the banking sector.
  • Pelosi’s Husband Invested in Solar Firm Weeks Before Lucrative Expansion

    04/19/2016 10:55:51 AM PDT · by Nachum · 31 replies
    Free Beacon ^ | 4/19/16 | Lachlan Markay
    House Democratic Leader Nancy Pelosi’s husband bought up to a quarter million dollars of stock in a now financially troubled green energy company just weeks before it announced a major 2014 acquisition that sent stock prices soaring, public records show. SunEdison told regulators last week that it is eyeing bankruptcy under the weight of $11.7 million in debt. But in late 2014, investors were bullish on the company, which manufactures and operates solar and wind power facilities. Its 2014 purchase of wind energy company First Wind “further bolstered the reputation of the company,” wrote one market-watcher at the time. “Perhaps...
  • Pelosi Husband Invested in Solar Firm Weeks Before Lucrative Expansion...

    04/19/2016 12:01:17 PM PDT · by MarvinStinson · 12 replies
    freebeacon ^ | April 19, 2016 | Lachlan Markay
    SunEdison is now eyeing bankruptcy, but Paul Pelosi invested right before a 2014 stock rally House Democratic Leader Nancy Pelosi’s husband bought up to a quarter million dollars of stock in a now financially troubled green energy company just weeks before it announced a major 2014 acquisition that sent stock prices soaring, public records show. SunEdison told regulators last week that it is eyeing bankruptcy under the weight of $11.7 million in debt. But in late 2014, investors were bullish on the company, which manufactures and operates solar and wind power facilities. Its 2014 purchase of wind energy company First...
  • PHIL MICKELSON UNDER SERIOUS INVESTIGATION BY FBI

    08/13/2015 7:21:30 AM PDT · by Chauncey Uppercrust · 50 replies
    CNBC ^ | AUG 12 2015 | CNBC Staff
    U.S. authorities have launched an investigation into the former chairman of Dean Foods, the country's largest milk processor, who is suspected of leaking confidential information about a corporate spinoff to a professional gambler, who in turn is thought to have tipped off pro golfer Phil Mickelson, the Wall Street Journal reported. Tom Davis, 66, abruptly resigned as chairman last week ahead of Dean Foods' second quarter earnings release on Monday. The company declined to provide details on his sudden departure, while Davis' lawyer said his resignation was voluntary, the WSJ reported. The Securities and Exchange Commission together with the Manhattan...
  • Congress Tells Court That Congress Can’t Be Investigated for Insider Trading

    05/08/2015 10:33:45 AM PDT · by Brad from Tennessee · 75 replies
    The//Intercept ^ | May 7, 2015 | By Lee Fang
    In a little-noticed brief filed last summer, lawyers for the House of Representatives claimed that an SEC investigation of congressional insider trading should be blocked on principle, because lawmakers and their staff are constitutionally protected from such inquiries given the nature of their work. The legal team led by Kerry W. Kircher, who was appointed House General Counsel by Speaker John Boehner in 2011, claimed that the insider trading probe violated the separation of powers between the legislative and executive branch. In 2012, members of Congress patted themselves on the back for passing the STOCK Act, a bill meant to...
  • Newbie Asks a Question: What is "Crony Capitalism"? (Vanity)

    01/11/2015 6:53:29 AM PST · by Regal · 59 replies
    Vanity Question ^ | Jan 11, 2015 | Regal
    I have just recently become an active poster (responder), and have seen the term "Crony Capitalism" used without explanation. Recently I saw the term associated with Communism, which confused me further. A "google" does little to clear things up, particularly in regards to how it might be interchangeable with communism. Can anyone help clear things up?
  • Boehner profits from Obamacare stocks

    01/06/2015 4:28:36 AM PST · by Ray76 · 31 replies
    WND ^ | Jan 5, 2015 | Jerome Corsi
    An analysis of Boehner’s current investment holdings includes a number of stocks benefiting from Obamacare in a total portfolio estimated at between $3.5 and $5 million in current market value. Boehner’s Obamacare-related investments trace back to 2009, when the Obama administration was pushing the Affordable Health Care Act through Congress. Boehner has consistently maintained his investments are held in a blind trust and that he does not personally make investment decisions in his own investment portfolio. But few experienced congressional critics believe Boehner and other members of Congress are unaware of their investment holdings, because public disclosure requirements demand yearly...
  • Ted Kennedy's son being investigated for insider trading

    12/10/2014 10:02:42 AM PST · by kiryandil · 43 replies
    UK Daily Mail ^ | December 9, 2014 | 0-ssociated Press
    Ted Kennedy's son being investigated for insider trading: Government information about prostate cancer drug was 'passed to clients by firm co-founded by senator's son' An insider trading investigation has been launched into Ted Kennedy Jr's former company. The Marwood Group, a healthcare-focused consulting firm co-founded by Kennedy, received notice from the Securities and Exchange Commission (SEC) this week. The agency's staff officially notified Marwood that it plans to recommend to the full commission charging the company with civil insider trading.
  • Insider Trading: If Phil Mickelson Traded On Carl Icahn's Tips, He's a Hero

    06/03/2014 7:26:16 AM PDT · by SeekAndFind · 36 replies
    RCM ^ | 06/02/2014 | John Tamny
    By now most are familiar with the allegations involving championship golfer Phil Mickelson. Supposedly using information passed on to him by Las Vegas bettor William Walters, Mickelson allegedly completed stock-market trades that were informed by tips given to Walters by billionaire investor Carl Icahn. Mickelson has denied any wrongdoing in the confused legal sense of "insider trading," but assuming he's committed capital based on privileged information provided by Icahn, readers should cheer his actions. To be blunt, to the extent that Mickelson traded on information that originated with Icahn, he's a hero for having so done so. That's the case...
  • Was Phil Mickelson targeted by Obama People?

    06/01/2014 4:27:38 AM PDT · by scooby321 · 24 replies
    Vanity | 6-1-2014 | Vanity
    Word is, Phil Mickelson is mad as hell about rising tax rates, and he’s not going to take it anymore. What follows is a brief portion of an interview Mickelson gave earlier today after carding a final-round 66 at the Palmer Course at PGA West in La Quinta – which I assure you, is not associated with the La Quinta next door to your local Denny’s – in which the golfer hinted that he is considering drastic career changes because of a combined tax rate nearing “62, 63 percent:”
  • Dirty Harry Got Richer in 2008...and You Didn't

    04/14/2014 4:19:40 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | April 14, 2014 | John Ransom
    Congress has inflicted frightful punishments on its members--now you know that. When they tried Mr. Fairoaks, and a cloud of witnesses proved him to be--well, you know what they proved him to be--and his own testimony and his own confessions gave him the same character, what did Congress do then?....Congress intimated plainly enough, that they considered him almost a stain upon their body; and without waiting ten days, hardly, to think the thing over, they rose up and hurled at him a resolution declaring that they disapproved of his conduct! Now you know that. –Colonel Beriah Sellers, The Gilded Age,...
  • The Insider-Trading Hysteria: What Exactly Does This Crime Consist of?

    03/05/2014 5:46:24 AM PST · by SeekAndFind · 17 replies
    National Review ^ | 03/05/2014 | Charles Gasparino
    Look up the sentencing guidelines for committing rape in New York State and you’ll find that the guilty serve anywhere from four to 25 years in jail — which is roughly what those convicted of trading stocks using “material non-public information,” a.k.a. insider trading, serve. Anything wrong with this picture? I’d say a lot. I do not write this as a fan of fat-cat traders who know the rules and wantonly violate them. But take a deep breath and consider the actions of Mathew Martoma, the latest in a long line of Wall Street hucksters snared by the government in...
  • SEC Employees Make Great Stock Pickers

    02/25/2014 10:23:24 AM PST · by reaganaut1 · 11 replies
    Turnkey Analyst ^ | February 24, 2014 | Wesley R. Gray
    Stock Picking Skills of SEC Employees Jawad M. Addoum, Alok Kumar, Kelvin Law Abstract: We use a new data set obtained via a Freedom of Information Act request to investigate the trading strategies of the employees of the Securities and Exchange Commission (SEC). We find that a hedge portfolio that goes long on SEC employees’ buys and short on SEC employees’ sells earns positive and economically significant abnormal returns of (i) about 4% per year for all securities in general; and (ii) about 8.5% in U.S. common stocks in particular. The abnormal returns stem not from the buys but from...