neilp
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- Jul 9, 2007
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Yes I was trying to subtly explain why I didn’t rate the crime as prison worthy, based on the reports on the news.
Joe Lewis and insider trading
- Thread starter Flashspur
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fortworthspur
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- Nov 12, 2007
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Joe Lewis and his friends right about now
- Oct 2, 2004
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Can you subtly explain why white collar crime has no impact at all on anyone else?
Cos not everyone wears white collars!
neilp
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Christ, you’re like dog with a bone, I thought talk show hosts were supposed to be happy little chappies, but you come across as a left wing version of Red Robbo.
ERO
The artist f.k.a Steffen Freund - Mentalist ****
- Jun 8, 2003
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Who's the victims here?
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So...no...you can't explain that
Bluto Blutarsky
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Bluto Blutarsky
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It was a fair bit more blatant than that - Lewis in fact loaned money to the pilots, to make the stock purchases...
UncleBuck
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- Aug 20, 2003
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Bloody hell, don’t get me started on Brent Walker, not that I’m still bitter or anything!
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neilp
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Get off your high horse for a moment. I can’t explain the first point here as I didn’t say it had no impact on anyone else, that’s what you have said.
All I have said is that fighting violent crime, is in my humble opinion, a better use of prison space.
fortworthspur
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I'll say it again, for the US government to say its illegal except for, well, members of the US government means its not really illegal, is it?
Bluto Blutarsky
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Not too long ago (2019) a sitting congressman was forced to resign after being charged with insider trading...
fortworthspur
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take the Martha Stewart case. A stockbroker friend let her know the CEO of a pharmaceutical company had just dumped all his stock in the company, so she sold hers. Soon after the FDA rejected a cancer drug the company was making. Obviously someone from the FDA (the US govt) tipped off the CEO and he saved a lot more money than she did and she's the one who went to jail.
fortworthspur
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Not too long ago (2019) a sitting congressman was forced to resign after being charged with insider trading...
Bluto Blutarsky
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Misleading headline - as evidenced by the conviction above. Congressmen (and women) can be charged with insider trading.
The loophole - which should be closed - is when congresspeople get information specifically as a result of their position in congress.
Every other instances of insider trading - applies to everyone.
And, like it or not, Joe was involved in a pretty egregious insider trading scandal - such that a company he controls is paying a $50M fine, and agreeing to vacate seats on any corporate boards they hold.
Rocksuperstar
Isn't this fun? Isn't fun the best thing to have?
- Jun 6, 2005
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Insider trading does puzzle me, especially in this modern age of information. So, if you're stock watching and notice some big wig has dumped a ton of stock and you copy them, that's fine. Mention it to anyone else who didn't just happen to see it at the time and that insider trading?
It's such a weird concept, when you consider that it must go on all day, every day - what if you write it on a beer mat and put it under your mate's glass in a pub? Wine bar? What if you tell them using semaphore? Send a coded message using trained animals and the medium of dance?
Very odd. Shifty business.
It's such a weird concept, when you consider that it must go on all day, every day - what if you write it on a beer mat and put it under your mate's glass in a pub? Wine bar? What if you tell them using semaphore? Send a coded message using trained animals and the medium of dance?
Very odd. Shifty business.
Bluto Blutarsky
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Sigh.
This is how disinformation spreads, and is believed.
Later investigations revealed that after learning the FDA would refuse to review Erbitux, Sam
Waksal, the CEO of ImClone and a close friend of Stewart, instructed his broker Peter Bacanovic—
who was also Stewart’s broker—to transfer $4.9 million in stock to the account of his daughter
Aliza Waksal. His daughter also requested that Bacanovic sell $2.5 million of her own ImClone stock.
Sam Waksal then tried to sell the shares he had transferred to his daughter, but was blocked by
brokerage firm Merrill Lynch. Phone records indicate that Bacanovic called Martha Stewart’s office
on December 27 shortly after Waksal’s daughter dumped her shares. Stewart’s stock was sold ten
minutes later.
Sam Waksal was arrested on June 12 on charges of insider trading, obstruction of justice, and bank
fraud in addition to previously filed securities fraud and perjury charges. Although he pleaded
innocent for nine months, Sam Waksal eventually pleaded guilty to insider trading and another six
out of thirteen charges. Waksal, who was sentenced to seven years in prison but was released after
five
Martha Stewart, on the other hand, served 5 months....
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