U.S. in Vast Insider Trading Probe

[laughingliberal]

Source: WSJ

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, according to people familiar with the matter.

The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.

The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.

One focus of the criminal investigation is examining whether nonpublic information was passed along by independent analysts and consultants who work for companies that provide "expert network" services to hedge funds and mutual funds. These companies set up meetings and calls with current and former managers from hundreds of companies for traders seeking an investing edge. <snip>



Read more: http://online.wsj.com/article/SB10001424052748704170404575624831742191288.html?mod=WSJ_hp_LEFTTopStories

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Will we finally see some perp walks?

[Yo_Mama_Been_Loggin]

1. How many Repukes?

Teabaggers and editorialists from the Wall Street Urinal will try to write this off as a case of overreaching government.

[gateley]

4. The investigation was begun 3 years ago -- still under Bush's regime? nt

[Yo_Mama_Been_Loggin]

5. That won't stop their accusations.

Point taken nonetheless.

[gateley]

9. And you're right, as well. It's not as though they acknowledge the facts when

it comes to ANYTHING. [

[Ghost Dog]

27. How many senators, lobbyists and such

"established DC insiders" of whatever stripe?

[Joe Chi Minh]

31. It would be a whole lot easier to count the Democrats, I bet, even thought they're no angels.

[HCE SuiGeneris]

2. Bring back Brooksley Born

She has lots of info on these perps.

[ProfessionalLeftist]

6. Can't figure why Obama didn't appoint her instead of Larry

Summers. She is one of those women who "can't do math" ©Summers. She could, however do it well enough to have predicted the financial crash/crisis at the end of 2008 years ahead of time. The boys of course, when she predicted it, told her to STFU. Typical.

[HCE SuiGeneris]

7. The established DC insiders have effectively rendered Obama impotent

with regard to changing Wall Street ways. Was it with, or without his consent?

[truedelphi]

8. Hey it is within his power to make appointments.

And he apparently likes appointing the Corporate approved folks from the Dark Side.

[HCE SuiGeneris]

10. I wish I could refute your assertion.

However, the choices we have witnessed lend far too much credence to that statement.

[truedelphi]

11. I truly wish that I could refute my assertion.

<sigh>

But instead I offer us both a late Friday nite "toast"

[HCE SuiGeneris]

14. Salute

Just poured a glass of wine and will be drifting off to dream of better days for us all. :toast:

[midnight]

32. Yes, and wonderful suggestion....

[gateley]

3. 'Will we finally see some perp walks?'

Oh, God, I hope so. It will restore a lot of faith that has been shattered.

I hope they get the honchos, like they did Madoff, not some pipsqueak clueless employees.

[DeadEyeDyck]

12. with do many dems under investigation...

for failure to pay taxes, I doubt we will hear much about this.

[DLine]

13. Teabaggers won't care..

Unless one of those accused is George Soros

[Greyhound]

15. Good news!

Let's hope we get some real jail time and punitive damages for some top guys.




Yeah, I know it is far from likely. Half-a-dozen VP's from the disposable scholarship set and we can continue on our merry way...

[Altoid_Cyclist]

16. We'll probably be seeing statements such as;

It would cause too much damage to the reputation of Wall Street to pursue this to the end.

Any further investigation will be detrimental to an already shaky economic recovery.

The always popular national security would be placed at risk.

I hope that I'm just being too cynical, but....

[liberation]

19. Nah, they will get some low level guys prosecuted...

... they will publicize the shit out of the trials for some of these poor bastards. Not a single big fish will be in any danger of prosecution, maybe some big fellow who pissed off the wrong people may bite a bullet. But that will be about it.

And then we will be repeatedly told how "the system worked" and we will go back to be good sheep.

It has been done before. I am actually waiting for the Hollywood blockbuster and the super duper thoughtful documentaries on this. All no doubt will remind us how the invisible hand, in the end, works things out. Praise the invisible hand!

[Altoid_Cyclist]

30. You and Disndat are correct.

I should have been more precise in my statement. They will always find the small fish and fry them.

The big fish will live so that the rich can become even more rich.

Is this a great country or what.......

[disndat]

26. Even if none of the big players

get justice, the people will get a greater insight into the way the system really works. Can't hurt and may help us move forward.

[laughingliberal]

28. I hope not but it won't surprise me. nt

[xchrom]

17. If they don't take their money if their jailed

Then we haven't hurt them.

[underpants]

18. "Smart money" will buy this off

all INSIDER-style

[sam sarrha]

20. and the Answer IS..... "nothn to see here folks..move along"

[Enthusiast]

21. What a joke. nt

[Scuba]

22. "illegal profits totaling tens of millions of dollars" Are you kidding me? ...

what about the tens of billions they've stolen.

[safeinOhio]

24. WE sure don't want to tax these

rich bastards another 4% because they have created so many jobs.

[McCamy Taylor]

23. Let's see the Banksters do the perp walk!

[pattmarty]

25. C'mon, we ALL know there have been crimes, what we ALL want to............

...........see is at least some of these shitheads go to fucking jail. Not probation, or community service, FUCKING JAIL.

[laughingliberal]

29. Agree 100%. nt

[jsmandrake]

33. GET ON IT !!

~ I know better than to hold my breath...but,
this must be gotten at--eliminate this malevolent root
that empowers American Economic Warfare, both worldwide
and here at home (where they are presently
canibalizing as we speak)

[nashville_brook]

34. The Perp Walk needs to be the new dance craze.

[femrap]

35. this is the best news I've had

in decades....please let me see SPINE! I want to work on this investigation so badly. So if anyone can give me a tip....I'll follow. I worked in the investment industry until I puked. I would love to bury a multitude of these scum bags.

[Johnny Harpo]

36. Yes...And The Probe Will Be SO Vast....

that no one will go to jail....again!