Whistleblower exploses insider trading program at

[mzkhadir]

Wikileaks.org

 

[Throckmorton]

So what is going to happen?

 

[Canai]

Yay more economic trouble!

 

[The Boston Dangler]

wow, it's like the super rich live by completely different rules. oh wait, they do :/

 

[ultimatebob]

Not sure. After that buyout deal, you would think that "JP Morgan Chase Bear Stearns" is pretty safe from government prosecution at this point.

Come to think of it, they need a better name. Maybe something Latin sounding name like "Argenta" (it worked for Altria, right?), or just a shorter name like "JP Stearns"

 

[Zim Hosein]

Originally posted by: ultimatebob
Not sure. After that buyout deal, you would think that "JP Morgan Chase Bear Stearns" is pretty safe from government prosecution at this point.

Come to think of it, they need a better name. Maybe something Latin sounding name like "Argenta" (it worked for Altria, right?), or just a shorter name like "JP Stearns"

Come to think about it ultimatebob, you may be on to something...

 

[sonambulo]

Originally posted by: ultimatebob
Not sure. After that buyout deal, you would think that "JP Morgan Chase Bear Stearns" is pretty safe from government prosecution at this point.

Four posts and we get the right answer.

(it worked for Altria, right?)

I know this is an aside but fuck Altria. That is all.

 

[alkemyst]

With JP Morgan behind the Federal Reserve Bank its sort of difficult for the feds to go after him much.

I'd say 95% of stuff that happens is really insider trading.

 

[yankeesfan]

any other source?

 

[Safeway]

Originally posted by: alkemyst
With JP Morgan behind the Federal Reserve Bank its sort of difficult for the feds to go after him much.

I'd say 95% of stuff that happens is really insider trading.

Why is that statistic covered in feces? Oh wait, you pulled it out of your ass. What a balloon personality. Worthless.

 

[TruePaige]

Actually, it's all legal.

It's based on a well known SEC rule.

http://en.wikipedia.org/wiki/SEC_Rule_10b5-1

The SEC explitictly OK'ed this.

After the written trading plan described in Q&A 11(a) has been in effect for several months, the person terminates the selling plan by calling the broker and canceling the limit order.

(a) Does the act of terminating a plan while aware of material nonpublic information result in liability under Section 10(b) and Rule 10b-5?

No. Section 10(b) and Rule 10b-5 apply "in connection with the purchase or sale of any security." Thus, a purchase or sale of a security must be present for liability to attach. See Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975).


Source:

http://www.sec.gov/interps/tel...e/phonesupplement4.htm

As an aside:

The techniques outlined in the 31-page document ... are really only useful for insiders who anticipate their company shares will decline.

Many CEO's use these practices, in fact anyone with stock options should be aware of them as to maintain the value of their portfolios.