"Who was forced to sell their stock?
People who took a chance and invested in Sirus for the long haul, were not harmed"
Trading on insider information harms the market itself. It is a crime taken VERY seriously by the powers that be. Also, thay are very good at spotting connections. Someone will likley swing in this case.
I agree. And Stern should pay if guilty. What peeves me as an individual small investor is the 'After Hours Trading' market. Unless you are playing with the big boys, it's a bitch to wake up and realize that yesterday's closing price is not today's open after you put in a buy order that gets executed at a premium to your pocket. I think the after hour trading is worse then insider trading. IMHO
If the powers to be made it a crime to offer a lower amount for a stock than someone paid for it, everyone would make money, and this would be good for the market, would it not?
I just do not see the victim here, day traders sold early, for an amount they wanted, long term investors were rewarded.