Posted on 11/20/2010 5:46:22 AM PST by jimbo123
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.
(Excerpt) Read more at online.wsj.com ...
Firms/individuals under investiation are:
Primary Global Research LLC Goldman Sachs Group John Kinnucan, a principal at Broadband Research SAC Capital Advisors LP Citadel Asset Management Janus Capital Group Wellington Management Co. MFS Investment Management First New York Securities LLC Ziff Brothers, Jana Partners LLC TPG-Axon Capital Management Prudential Financial Inc.'s Jennison Associates asset-management UBS Financial Services Inc. Deutsche Bank AG Todd Deutsch Richard Grodin
Only if they are members of the New Black Panther Party.
You have to ask? Of course they will, just like the new black panthers did, ACORN, SEIU, etc. Holder's "justice" Dept. didn't invent the notions of political clout and undue influence...but they are working on perfecting them. We the people have just about zero chance of any real justice until mid 2013.
WHAT SAY YOU AG Holder?
http://www.youtube.com/user/fiercefreeleancer
the above link should be sent to every NEW Congresscritter
Oh for goodness sakes. That is about $1 per person per day for these guys. What about the other Trillion dollars the crooks and fraudsters purloined, and the other trillions that they frittered away through mal investment?
the rats will give them the charlie rangel deal
I wonder why this is not brought up against the democrats, their biggest donor is not a American company, when Obama scream about GOP and foreign donors
His sugar Daddy is a foreign Donor.
It Incorporated in Leeward Antilles.
I want them to open up everything about Shore Bank.
Leaking information about corporate transactions is clearly a bad idea that could lead to insider trading. But it’s dangerous policy to conclude that there’s something wrong with groups of experts who provide information to fund managers that is not made available to the general public. Proprietary research does not have to be made available to the general public, and as long as expert consultants are not giving out specific information about impending corporate financial results or transactions then they are not involved in insider trading. We can’t set the standard for inside information so low that people can’t even talk about how business is going at their companies and in their industries. If that happens, we’ve turned the Land of the Free into a police state. If individuals want to benefit from proprietary research then they need to invest in mutual funds and hedge funds that have outstanding research capabilities. That’s what I’m doing.
This whole investigation strikes me as overdone and another example of this administration’s ignorance and its hostility towards business people and especially investment and money management firms. Once again, Goldman Sachs is being targeted. I hope the SEC has something more substantial than the completely nonexistent case they presented earlier this year related to CDOs (complete with ludicrous show trials in front of the moronic Sen. Levin). In that case, the SEC simply proved that either it did not understand what Goldman and many other firms were doing a few years ago or that the SEC was harassing and shaking down Goldman for some other undisclosed reason (more likely the latter).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.