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No doubt there are lawbreakers in AP, just as they are in every other state, in every other place. That you’ve heard more or remembered more or paid more attention to those reports is of little to no material importance for grasping what is going on in the world or predicting what will happen next and who will do what.
They should have just made YouTube livestreams pretending to be VItalik Buterin, Elon Musk, or Michael Saylor instead. Those guys making million every month, no arrests, no SEC.
Not a sympathizer of these idiots who clearly thought that would get away. But what really astonishes me is how SEC is consistently after these retail small players when members of congress and its different committees are brazenly involved in insider trading and no one bats an eye. Hell even the Fed itself and its members were involved in trades that could only be explained by insider knowledge. My sense is SEC want…
well, for one, members of congress are legally allowed to insider trade. pretty convenient laws when you make the laws.
Are they?
Highlight link: https://en.wikipedia.org/wiki/STOCK_Act#:~:text=The%20law%20....
Not a sympathizer of these idiots who clearly thought that would get away. But what really astonishes me is how SEC is consistently after these retail small players when members of congress and its different committees are brazenly involved in insider trading and no one bats an eye. Hell even the Fed itself and its members were involved in trades that could only be explained by insider knowledge. My sense is SEC want…
Earlier quoted context omitted.
Legalising insider trading is the simplest solution.
Indeed, insider trading benefits everybody by adding more information to the markets, leading to more accurate prices.
I work in billing software for a publicly traded software company and this is a constant temptation. I'm never gonna do it because I'm not gonna blow up my career for a relative pittance, but I can't tell you how many times I've been annoyed that I couldn't act on private information and make ~$100k or so. These guys are like the kids who saw the Tide Pod challenges and decided to actually eat the pods. I bet insider…
Earlier quoted context omitted.
If insider trading is legal, you could actively destroy a company from the inside and profit from its downfall. Like you could buy put options to set up a leveraged short position, take all the company's money, set it on fire in public(or make a stupid acquisition so you can't easily be sued by other shareholders), watch the stock price drop in a predictable manner, and profit from the predictable decrease in equity.…
> If insider trading is legal, you could actively destroy a company from the inside and profit from its downfall. What you are describing is an entirely different kind of misconduct than “insider trading”.
I work in billing software for a publicly traded software company and this is a constant temptation. I'm never gonna do it because I'm not gonna blow up my career for a relative pittance, but I can't tell you how many times I've been annoyed that I couldn't act on private information and make ~$100k or so. These guys are like the kids who saw the Tide Pod challenges and decided to actually eat the pods. I bet insider…
I work in billing software for a publicly traded software company and this is a constant temptation. I'm never gonna do it because I'm not gonna blow up my career for a relative pittance, but I can't tell you how many times I've been annoyed that I couldn't act on private information and make ~$100k or so. These guys are like the kids who saw the Tide Pod challenges and decided to actually eat the pods. I bet insider…
>I bet insider trading is not as fun when you're unemployed and bankrupt. Not just unemployed, likely unemployable by any reputable company in the industry. Also, good on you for having integrity, but honestly what you say is too much for the average person to be tempted with. Does anyone have a solution for lowering that temptation and making these scenarios less likely?