FARK.com: (7690097) Agents investigating insider trading are surprised to learn that so many market-busting portfolios are owned by children under 10. Whose parents just happen to be traders. Hm, odd

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		Agents investigating insider trading are surprised to learn that so many market-busting portfolios are owned by children under 10. Whose parents just happen to be traders. Hm, odd (npr.org)		12
		More: Obvious, insider trading, portfolios, University of Auckland, stock traders, traders, University of Kansas

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7099 clicks; posted to Main » on 09 Apr 2013 at 10:15 AM | Favorite | Watch | share:

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bunner		2013-04-09 10:37:32 AM

3 votes:

Here's how it works. People with access to money, power and responsibility steal, lie, loot, pillage, con, scheme, bamboozle, prevaricate, shuck, jive, and generally strip the paint off the wall off of anything they get within pissing distance of and then hide, it, stuff it up their poopers, staple it to relatives asset sheets, tax evade, or send it offshore and the people who ostensibly legislate and enforce the regulations regarding their alleged professions are blowing them stupid and holding up the other end of the rug they sweep it under. And they're going to keep doing it until we're either Somalia lite or we hang them. Now stop worrying.

diaphoresis		2013-04-09 10:25:41 AM

3 votes:

omg.. they're just NOW figuring this out? Jeebus....

www.reactionface.info

Marcus Aurelius		2013-04-09 10:44:11 AM

2 votes:

Honest Bender: Even Congress has gotten into the spirit of things, to ban insider trading by members.

LOL, like they'd ever give up their cash cow. Insider trading regulations are a joke when congress can blatantly get away with it.

Congress exempts themselves from the vast majority of the laws they pass. Congress is immune from the Equal Employment Opportunity Act, OSHA safety regulations, the ADA, and a whole host of other laws that they saw fit to impose on the rest of us.

Dr Dreidel		2013-04-09 10:30:07 AM

2 votes:

Wait, until now, you could trade on behalf of someone else using insider information? The law against insider trading only applied to the named account-holder?

Wait, let me start again:

Is there any high-finance law WITHOUT an obvious Abrams-tank-sized hole in it?

Honest Bender		2013-04-09 10:05:30 AM

2 votes:

Even Congress has gotten into the spirit of things, to ban insider trading by members.

LOL, like they'd ever give up their cash cow. Insider trading regulations are a joke when congress can blatantly get away with it.

Hagbardr		2013-04-09 09:37:44 AM

2 votes:

That's because rich people are better than you.

anfrind		2013-04-09 01:27:02 PM

1 votes:

On the topic of insider trading: a few years ago there were rumors that the company I worked for was going to be sold, but the board of directors were keeping everyone in the dark as well as they could (even the employees didn't know what exactly was going on, but we knew that the board was meeting with representatives of several much larger companies). I eventually got word from upper management that we would not be allowed to buy or sell company stock until further notice. I casually mentioned it to a family member who works for a financial adviser, not thinking much of it until she pointed out that I had just told her insider information, and if any of her clients asked about either company she'd have to pretend that she didn't know.

Less than two months later, the company was bought by a giant tech firm that I'm sure you've all heard of, and both the board of directors and the shareholders made out like bandits.

bunner		2013-04-09 10:55:22 AM

1 votes:

Make stuff. Hype it. Gump da sh*t out de doe. Mop up the piss poor engineering later, blow profits on absorbing companies with viable products. Cut salaries and downsize because of "flawed engineering" you already knew about. Pay bonuses out to the head cutters and yourself. Open golden parachute. Bail. Go to next firm. One moe time!

Rapmaster2000		2013-04-09 10:43:47 AM

1 votes:

Dr Dreidel: Wait, until now, you could trade on behalf of someone else using insider information? The law against insider trading only applied to the named account-holder?

No, it's not actually legal. The point is that people are using their children's names for their insider trading accounts ostensibly to reduce their own risk of getting caught. It appears to work.