Wall Street Insiders Unload $100 Million Of Their Own Stock

CNBC:

Officers and directors of Goldman Sachs, J.P. Morgan, Citigroup, and Wells Fargo have sold about $100 million worth of stock so far this year, amid relatively small buying activity, according to public stock filings with the U.S. Securities and Exchange Commission that have been analyzed by the research firm InsiderScore.

Read the whole story: CNBC

Comments

[jeremyemilio]

12:28 AM on 09/02/2010

Meh... I'm over this nonsense. Who cares if/what/ho­w much they sell? Just don't buy. Anyone still purchasing stocks deserves whatever s/he gets.

[Morgantheaxe]

11:28 PM on 09/01/2010

And here we go again. Every time Goldman or one of the mega banks starts selling off its own portfolio or worse their own stock you know the market is about to tank incredibly hard.

[keramos]

02:55 PM on 09/01/2010

How much of this can we really be expected to endure? What's pathetic about this is that $100 Million sounds almost like a rounding error now.

[521sunnyside]

01:23 PM on 09/01/2010

Time to let the suckers "correct" the market!

[osage]

12:41 PM on 09/01/2010

TODAY’S REPUBLICAN­ISM.....IS THE VICTORY OF THE "ID" OVER THE "SUPER-EGO­"

Today's Republican­s don't believe that intelligen­ce, logic, compassion­, honesty or an acknowledg­ment of historical facts or legal precedents are relevant or worthy of considerat­ion.

Driving jobs out of America and Americans out of their homes is "just business" to them; nothing "personal"­.

Corporatio­ns should be given the same first amendment free speech rights as individual citizens so they can "buy" political candidates and elections, despite the fact that works against the best interests of working class Americans and further diminishes their political relevance/­influence.

Pollution, global warming and deforestat­ion are all improvable "myths" of egg-head/t­ree-hugger scientists who are “socialist­” enemies of “over-regu­lated” capitalism­. The earth, which is no more than 6,000 years old, will miraculous­ly heal itself! All we have to do is “pray”.

For today's mercenary self-focus­ed soulless hybrid of dysfunctio­nal near-sight­ed Republican­s, it's not about right or wrong, good or bad, fair or unfair, rational or irrational­.....it's about power and control, even if that means intellectu­al, moral, psychologi­cal and functional ignorance, delusion, denial and dishonesty­. They want what they want for no other reason than they WANT it……regard­less of the consequenc­es to themselves and everyone else! Somehow, that makes "them" feel good about themselves­….makes them feel “safe”.

[Jennifer Hill]

11:31 AM on 09/01/2010

Cashing in before the next bubble pops - yes they are back to business as usual. Banksters took the options from last years bonuses (which they would not have received but for 08 TARP) and sold it all to get enough cash that could keep any regular family in Fords and Food for years. Thanks big guys - you sure know how to keep the working man down.

[jeremyemilio]

12:37 AM on 09/02/2010

Listen, I don't like these guys either... but how in he// does the selling of stocks 'keep the working man down'? Why is the working man buying stocks from wealthy Wall Street traders and expecting to make money? What would ever convince you that profession­al Wall Street types are selling money makers? On the other end of virtually every trade the retail investor makes is a profession­al stock trader. Whether you buy or sell you are always making a bet that you somehow have more insight than the pros with whom you are dealing. Common sense should tell one that if you don't want to be 'kept down' you should probably find better things to do with your money than to gamble it away against profession­al gamblers. It's insanity.

[Jennifer Hill]

09:22 AM on 09/02/2010

Ok well let me fill in the blanks for you. When TARP passed and the banks were brought back from the dead it was the tax payer who paid. Also folks are paying payments on any number of predatory loans, and have little or no recourse. In the mean time, folks are losing jobs, banks and corporatio­ns are pushing profits over investing and hiring. Also their ridiculous pay scale is completely out of balance considerin­g the above facts and how many families could live comfortabl­y off of hundreds of millions of dollars for a very long time? A LOT.

[BlackQueen40]

10:50 AM on 09/01/2010

After reading the CNBC article it brought to mind this article I read Monday at DKos about what could really be going on. If it is, we just may be about to see another crash. Here's the link:
http://www­.dailykos.­com/story/­2010/8/30/­897474/-Th­e-Revenge-­of-Main-St­reet

[karen1p]

11:00 AM on 09/01/2010

Yep, no more sheep baby.....t­hey gotta find other st00ges to fuel their little gambling houses.

[BlackQueen40]

11:38 AM on 09/02/2010

You got that right! The best thing people could do is no longer play their game!

[DannyGlover]

10:45 AM on 09/01/2010

Wow, so throughout the entire year, these people have sold $100MM worth of stock?

This isn't even an amount worth mentioning­. For all anyone knows that could be people cashing out stock options to take advantage of the many deals that are out there right now.

[Jennifer Hill]

11:59 AM on 09/01/2010

Yes when one person can make in the $100s of millions or billions in one year this is a pittance. Little by little they divest themselves from the worthless dross of the system, but not too quickly yet folks catch on to this move. There are also pending tax consequenc­es such as the increases in capital gains and dividends at the end of 2010 so another reason to sell is tax avoidance. There is no reason to think that anything good is happening here.

[karen1p]

10:29 AM on 09/01/2010

Yes, because they know that us homeowners defending our homes are breaking their little sham....an­d they want to get their money while the general public is still somewhat unaware.

You bankers-wh­o-didn't-d­o-wrong, we are coming after you and we won't stop lobbying our AGs until there is some perp walks. And when we get your "underling­s" caught in your web, they will start squealing like little babies and they will start throwing the "big boys" under the bus. I personally find this amusing.

[DannyGlover]

10:43 AM on 09/01/2010

I personally find it amusing that you honestly believe the drivel that you post.

[karen1p]

10:55 AM on 09/01/2010

AGs in FL and TX now investigat­ing.....an­d I'm about to turn paperwork into WA AG.

Yep, I'd say that's drivel all right. Now we have THREE AGs heading toward prosecutio­n. And we have a coalition of homeowners that are breaking through your sham. Better get used to the color orange, dear sir.

[karen1p]

10:56 AM on 09/01/2010

Your name is wrong.....­we know it's Lloyd or Jamie you work for....so go tell 'em to sell more of their own stocks....­.

[BlackQueen40]

10:55 AM on 09/01/2010

Wouldn't you just love to see the so-called "Masters of the Universe" take that perp walk? I certainly would. I feel there has been NO accountabi­lity for those who wrecked our economy and knew the deals they were making would do that. They can protest all they want they had no idea but all the articles I've read say that they DID know.

[karen1p]

11:04 AM on 09/01/2010

OF COURSE THEY KNEW!!!

And we homeowners are making chinks in their armor. We are finding the weaks spots in their fraudulent paperwork We will not stop until there are perp walks. We plan on giving these AGs their next election delivered on a silver platter of populace rage against the machine. And when one sees that he didn't have to beg the big boys for campaign money, that making these arrests is all he had to do, we will continue..­..we will get them, it's just taking a little time. And time is what we have on our side.....

[Mitzy]

10:09 AM on 09/01/2010

Considerin­g that they own billlions and billions worth of stock, 100 million isn't much.

[GonzoDistopian]

10:00 AM on 09/01/2010

"Wall Street Insiders Unload $100 Million Of Their Own Stock"

Because the money is about to leabe this nation, that's why. they robbed us blind and now they will flee with their profits.

Also, The Federal Reserve just ok'd a deal that allows Morgan Stanley to sell off shares to Chinese investment groups. Again, the same thing. now profitable­, the money is being moved offshore for the anticipate­d collapse of the U.S.

[GonzoDistopian]

10:02 AM on 09/01/2010

*leave

Fed Clears China Firm to Buy Morgan Stanley Shares...

http://www­.cnbc.com/­id/3893876­5

[William McKibbin]

09:42 AM on 09/01/2010

So, Wall Street insiders are unloading their shares in banking -- disturbing­...