Hedge-Fund Titans Reportedly Received Inside Political Tips During Health Care Overhaul Debate

New York:

I'm surprised this Wall Street Journal story, detailing how hedge funds manage to obtain profitable inside information, hasn’t gotten more attention today. The whole story seems pretty explosive.

Read the whole story: New York

Comments

[Waltfl]

12:55 PM on 12/23/2011

Our laws are being more and more turned into oppressive instruments. They are geared to offer draconian punishmnets to the little ghetto hustler and the wine bottle thief at Wal Mart. Spit on a cop, and face ten years plus in prison, p e e drunk in a park and report as a s e x- offender for the rest of your life. On top of all that, Congress just passed laws to enable authorities to infinitely detain US citizens, without charging them, and without giving them access to legal counsel. At the same time, the big crimes go unnoticed and unpunished. Blowing up the world economy and extorting trillions for e tax payers around the globe? What a great idea! Leaking information from inside the White House isn't even worth a wrist-slapped any more. Insider-trading? Illegal, but who cares? Leaking information about federal agents? No big deal, even Vice Presidents do it. Treason, like selling WMD- components to Iran ( Koch Industries), is no big deal either. They can always cash in on the next war. Lining your pockets in Afghanistan (Halliburton), while American soldiers fight, is kind of cool. Gotta make money, right? I truly wish Holder and the President would show a little more moral leadership in is aspect, and go after the real criminals in this country, for a CHANGE.

[RubyMontana]

02:48 PM on 12/22/2011

And to think they made Martha Stewart sit for five months. If she worked for the government, she would have done no wrong!
Go figure.

[Canuckview]

04:12 PM on 12/21/2011

not really surprising, it's what corrupt oligarchy's do.

[bbrecht]

03:57 PM on 12/21/2011

Run them all out of town. Not only does insider trading insure that those with money continue to profit unfairly from public policy, and rig the system against the rest of us, but those with money create public policy. The fact that the health care bill had no public option AND a requirement that all Americans buy private insurance is evidence of who is important to Congress, left and right.

[WhineandCheeseHead]

03:52 PM on 12/21/2011

It's sad that I am no longer shocked by this.

[Allthosewhowander]

03:40 PM on 12/21/2011

Business/Politics as usual. The lines between the two have been blurred by greed and money, just as the party lines have been blurred by arrogance and elitism.

[sindurrella]

03:36 PM on 12/21/2011

Sometimes I think We The People, should have a way to enact some of the rules we expect our elected representatives to live by - things like this should be illegal!
Oh well..there's always my vote...unfortunately, I can't vote for whomever will be running against Leiberman

[dropthedh]

03:31 PM on 12/21/2011

Lieberman and Nelson should be frog-walked out of congress.

[Sharkcellar]

03:24 PM on 12/21/2011

Just like in the first sentence of this story, why did this get buried in HP so quick?

[RubyMontana]

02:49 PM on 12/22/2011

Was wondering, myself. Had to search for it, LOL!

[GCurry]

02:03 PM on 12/21/2011

This isn't news.

Anyone who thinks the powerful will play on a level playing field probably also believes in the tooth fairy.

[RubyMontana]

02:51 PM on 12/22/2011

This isn't news.
Well the fact that those in Washington can legally "inside trade" certainly was to me!
The fact that it so closely involved the health care reform for ME, is news, too.
So much for transparency .......

[aforbes808]

02:02 PM on 12/21/2011

Mr. President, Mr. Boehner, Ms. Pelosi, Mr. McConnell, Mr. Reid. Where are the investigations? Where's the indictments? Where's the public trial? Chirp. Chirp. Chirp.

Lawsuits by the SEC aren't gonna cut it. I want handcuffs, not wrist slaps.

[Allthosewhowander]

03:41 PM on 12/21/2011

The SEC is a joke. It is in bed with big business. When a member of the SEC threatens a lawsuit, then drops it, unexpectedly, we can pretty much infer where his next job will be. The SEC is as inept and corrupt as our current version of Congress and Senate.

[bcinu2]

01:55 PM on 12/21/2011

Just as nothing as of yet has come from the 60 Minutes Program detailing the problem, it has been downplayed by the media, as will this side of the problem. Now would be an outstanding time for OWS and the Tea Party to go for it and push the issue onto the front pages and also in the TV news shows spelling out the problem. It has been reported that the Congress cannot be held accountable for their insider status.

If this information continues to surface it may catch some fire. The results could be that a majority of the Congress could be indicted, along with the hedge fund managers and all of Wall Street. It would have the entire system caving in on itself. It needs to happen, but those in power are scared to death. They could watch as a lifetime of work goes down the drain, losing many assets that could be seized by the government. This is a door opener to a rebellion and an overthrow of those in power starting at the top. Will the so called leaders push to uncover and than change the way business is done on a daily basis. I say arreast, convict, and imprison those thieves........bc

[dawlishgal]

06:48 AM on 12/22/2011

What is really galling are the commenters here who eqate being a hedge funder with hard work (something they say the poor are unwilling to do). What kind of mentality does it take to admire people for working 16 to 20 hours a day if the work they do consists of using insider information to cheat others who don't have that information and who cook up plans to take people's money and then bet against those same people and make out like bandits when the people lose their money..

It would be better for everybody if those hard working rich people worked fewer hours.

[aforbes808]

01:30 PM on 12/21/2011

I see the psychological operations are working today. Come on "tell me all your politik, then open up your eyes."

[rutroGeorge]

04:38 PM on 12/21/2011

I just want to know, is your undulating avatar kissing us all off or blowing us kisses? Whatever it is, it's making me dizzy as it's taking up my screen with your multiple posts! ;-)

[aforbes808]

05:14 PM on 12/21/2011

Depends. It is something my mom used to do when complete strangers tried to take her power. Sometimes she meant it as a kiss and sometimes as a kiss off. For me? It's a kiss off to our owners and a kiss to those who are still asleep. PAX

http://www.youtube.com/watch?v=i5dBZDSSky0

[aforbes808]

01:26 PM on 12/21/2011

Note to right fighters: Nail your other foot to the floor. You're spinning yourselves silly. Get a clue. They are ALL liars. Occupy Reality.

[DavidATolucaLake]

01:20 PM on 12/21/2011

Very few are that smart to make money year after year in the market.

Often when you see those profiting from the market continuously it is due to a rigged system.

[dawlishgal]

06:52 AM on 12/22/2011

It has always been sort of rigged because people who can't afford to take risks will drop out of the stock market, and those who can afford the risks will make a bundle when the market goes up again. But it has become ridiculous when NEITHER party will stop the current crapola in which big finance deliberately creates investiments that are designed to fail for investors, then makes big bucks themselves by betting against the same investments.

both parties need dirty money to run their campaigns. Until we stop permitting the solicitation of dirty money and favors in return for dirty money, nothing is ever going to change.