Is Insider Trading Part Of The Fabric On Wall Street?

Traders work on the floor of the New York Stock Exchange on Thursday, May 17, 2012.

The New York Times:

Federal authorities today are trumpeting efforts to root out insider trading, and they’ve caught some big fish. Yet many on Wall Street suspect that the sort of chicanery that Mr. Parmigiani says he witnessed at Lehman may be as common as ever.

Read the whole story at The New York Times

Comments

[LVNVprog]

02:37 AM on 05/22/2012

And This is why the Stock Market is nothing more than a PONZI scheme never to entrusted with your Pension, 401k, retirement or anything else that you would not be willing to loose in a Casino.

[mfitz11]

08:33 AM on 05/21/2012

Insider trading may just be a part of government also.
Does anyone think it's just a coincidence that members of government (i.e. congressmen and senators) have stock portfolios that perform on average 30% better than the general public's?
Wow, they all must be really savvy investors......

[frankg3400]

04:14 AM on 05/21/2012

What is the purpose of voting when both parties allow corruption in every aspect without anyone being prosecuted. Allow drug cartels to grow drugs in our national parks and allows another country to invade our borders with the intention of reclaiming their "supposed" territory and yet 99% of our local and federal elected officials do absolutely nothing. Along with the fact that the majority of the electorate have no idea of what really is going on because of the diversions created by our media, which has lost all integrity.create. Definitely doesn't bode well for the future of the United States.

[Danlar]

12:29 AM on 05/21/2012

INSIDER TRADING is CORRUPTION and is WRONG and should be PROSECUTED.....

FB was not an example of insider trading unless you mean it was initially only available to some but in this case..they didn't do so great anyway....anyone could have bought at 38 Facebook's IPO price was simply too expensive reletive to its earnings to be justified......very interesting to see if it will move below $38 per share....

[HMDMSR]

11:27 PM on 05/20/2012

Part of the fabric? Get outta here.

[IDIOTA]

10:28 PM on 05/20/2012

If the Facebook IPO were truly public, then I wonder how that might have affected the tally.

[IDIOTA]

10:26 PM on 05/20/2012

The Facebook IPO is an example of such -- and it was legal.

[IDIOTA]

10:26 PM on 05/20/2012

Insider trading may be the norm on Wall Street? Yeah -- and water's wet.

[Robert Cantor]

09:08 PM on 05/20/2012

the code of silence is a fact of life in the Mafia, see where I am going with this?

[freethinking moderate]

08:29 PM on 05/20/2012

Why do Americans have such a hard time facing facts - Wall Street is a rigged casino where if you are not a big time player that you face a higher statistical chance of getting hosed. Its gambling with a facade of respectability. If you are willing to live with this, then Wall Street may be fore you. If you want to cling to the delusion that Wall Street is for the hard working job creators who all want an honest and fair exchange, then you will have to live with the financial and emotional pain that inevitably follows.

[Danlar]

12:53 AM on 05/21/2012

could be wrong....though risky investing's not gambling (gambling it goes poof, stocks if diversified may go down but not poof .... I'm an amatuar, bought CHL (China Moble) at 14 a share and sold at $75... when cell phones were the thing here but just taking off in China. No insider info.....also bought General Growth Properties (Mall Reit) when it went into a Chapt. 11 (I think) bankruptcy at 44 cents....sold at 9.75...no inside info. bought good companies stocks and reits when the market was at it's lows of 2008......classic Buffetology
for safer investments you try muni bonds, corp. bonds or treasury bonds
save and invest wisely....read some books on asset alocation....Open a self directed Roth IRA trading account with a discount broker like Scottrade and fund it ..invest as high risk or low risk as you would like
our 1 child family have an income of 55K a year, no cable, no morgage...we have managed to amass about 55 k in SAVEINGS the last 5 years....a terrible year...about 2 GREAT YEARS, couple of pretty flat years.....ahead....I do wish Id known about LEAP options in 2008........ Now do know but only use them in certain cases....they don't pay dividends etc.

[Janzee12000]

08:05 PM on 05/20/2012

News at 11..

[Captain Hindsight]

05:20 PM on 05/20/2012

All of the trades on wall street are governed by a strict code of ethics that traders hold inviolable.
Make as much as you can as quickly as you can!

[nopilikia]

01:11 PM on 05/20/2012

Nothing new......congress been allowed to do it legally for years. They cut their bankster buddies slack with "insider' appointments to run the agencies and then underfund those agencies doing the enforcement.

[DanielRomens]

12:03 PM on 05/20/2012

This is only true because there has never been any sincere effort to root out corporate crime. There is too much money at stake.