Monday, March 17, 2014

A Blanket Apology To Anyone Who Has Ever Traded On Inside Information

Re the prior post: http://obotomy.blogspot.com/2014/03/insider-trading-by-any-other-name.html . I referred to Senate Markey's brutish, avaricious, unethical and possibly criminal activity as insider trading. This description greatly understates the gravity of the wrongdoing and as such, I apologize to everyone else who has ever been accused of trading on inside information.

If the actions of Markey-Ackman are as they appear on the surface, the gang conspired (yes that is the correct word) to damage Nutralife's stock to the immediate benefit of Mr. Ackman. I know of no other trader who has used the full force of a US Senate seat and its subservient bureaucracies to benefit an allied short seller. This sort of (crime?) might have been done in the past but if so, it was done with some discretion. To his credit, I would like to say that Senator Markey has done his part to promote transparency in the Senate.

This event, whatever we want to call it, goes far beyond trading on privileged knowledge. For that reason, I apologize for categorizing all other inside traders with these ruthless thugs.

2 comments:

Hoosierman said...

Remember when Sen. Schumer caused a run on Indy bank by revealing information he got from the FDIC? I always thought that was too cute but nothing ever came of it.

BOSurvivor said...

I am sorry that I don't recall that but it does not surprise me.