27 Feb 2012

Insider Trading Bask

All Posts 9 Comments

Any examples of clearly absurd prosecutions for “insider trading”? I’m going on John Stossel’s show and that might come up.

9 Responses to “Insider Trading Bask”

  1. Reply
    Nikolaj says:
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    Mike Milken.

  2. Reply
    Tho says:
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    Not that I am typically for defending politicians, but the investigation of Spencer Bachus is pretty silly.

  3. Reply
    Ash says:
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    Does Michael Milken’s $200 million in fines and $400 million in restitution count?

    http://en.wikipedia.org/wiki/Michael_Milken

  4. Reply
    Blackadder says:
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    This case seems to qualify: In Carpenter v. United States, the Supreme Court upheld the conviction of a journalist for insider trading based on the fact that he told people what he would be saying in his columns before they were published, even though the columns themselves contained no inside information:

    http://scholar.google.com/scholar_case?case=506550416284402994&hl=en&as_sdt=2&as_vis=1&oi=scholarr

  5. Reply
    Mark Priddy says:
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    How about Martha Stewart’s prosecution?

  7. Reply
    Dan (DD5) says:
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    They are all absurd. They must be all be absurd if no real crime was committed, right?

  8. Reply
    Tony Garcia says:
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    Martha Stewart was prosecuted and jailed for lying to the feds while under investigation for insider trading, they didn’t have enough evidence to get her on insider trading.

  9. Reply
    Michael says:
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    Tony, I don’t understand why she then said anything to the Feds. Isn’t she allowed to plead the Fifth and remain silent? Why respond at all to any questions?

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