 
Z80
1 point 77
Premium
join:2009-08-31
Amerika | Good. These SOBs need to go to FPMITAP These guys endlessly game the system to get filthy rich while everyone else struggles. | |
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 | PapaMidnight
join:2009-01-13
Baltimore, MD | Re: Good. These SOBs need to go to FPMITAP Now if only I knew what the hell your acronym meant. | |
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| | | LowRider
join:2006-06-23
Dallas, GA | Re: Good. These SOBs need to go to FPMITAP  . LMAO!!! Had to google it. Nice | |
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| | | PapaMidnight
join:2009-01-13
Baltimore, MD
| said by KrK  :said by PapaMidnight :Now if only I knew what the hell your acronym meant. Ever seen "Office Space"?  The First word is "Federal" and the last is "Prison". Hahaha. | |
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Karl Bode
News Guy
join:2000-03-02 | Wiretaps I can't be the only one fascinated that it's 2009 and this is the first time a wiretap was used to bust insider traders? | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
 ·North State Commun..
| Re: Wiretaps said by Karl Bode :I can't be the only one fascinated that it's 2009 and this is the first time a wiretap was used to bust insider traders? Why? Just mention the words "spying on citizens" and people get all huffy puffy about it.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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| | bnceo
join:2007-10-11
West Orange, NJ | Re: Wiretaps As long as they get a warrant, it's fine with me. People get all "huffy puffy" when warrantless wiretapping goes on. | |
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Karl Bode
News Guy
join:2000-03-02
Host:
Road Runner
PC gaming GAMES
PC gaming Tech
| Re: Wiretaps Yeah, I was going to say..."huffy puffy" about warrantless wiretapping and domestic surveillance is one thing, but we're talking about court-approved criminal wiretaps being used for the first time against white collar insider traders. That says something interesting, I think... | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
·North State Commun..
| said by bnceo :As long as they get a warrant, it's fine with me. People get all "huffy puffy" when warrantless wiretapping goes on. Which is equally absurd, because they have to get a warrant for the information to be admissible in court.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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davoice
join:2000-08-12
Saxapahaw, NC
·Comporium
| Re: Wiretaps To be admissible in a criminal court, yes. To be admissible in a secret tribunal, terror court, or military court, no.
Remember, part of the warrantless wiretapping fuss was also about the tribunals and use of *non*-civilian courts for the processing of justice.
}Davoice | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
·North State Commun..
| Re: Wiretaps said by davoice :To be admissible in a criminal court, yes. To be admissible in a secret tribunal, terror court, or military court, no. Remember, part of the warrantless wiretapping fuss was also about the tribunals and use of *non*-civilian courts for the processing of justice. }Davoice I thought the secret FISA courts were the courts that granted the warrants, not the courts that tried the suspects?
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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davoice
join:2000-08-12
Saxapahaw, NC
·Comporium
| Re: Wiretaps said by Matt :I thought the secret FISA courts were the courts that granted the warrants, not the courts that tried the suspects? No... the problem was they were trying to avoid going FISA. Bush was saying he was not under the jurisdiction of FISA and could do whatever he wanted via executive order.
}Davoice | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
·North State Commun..
| Re: Wiretaps said by davoice :said by Matt :I thought the secret FISA courts were the courts that granted the warrants, not the courts that tried the suspects? No... the problem was they were trying to avoid going FISA. Bush was saying he was not under the jurisdiction of FISA and could do whatever he wanted via executive order. }Davoice There was a secret court somewhere that had to eventually approve the wiretaps right? I know people were making a huge fuss because the courts that approved them wouldn't be open and the results would never be available for review.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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davoice
join:2000-08-12
Saxapahaw, NC | Re: Wiretaps No. Bush was saying he was above the court, even FISA. | |
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davoice
join:2000-08-12
Saxapahaw, NC
·Comporium
| »www.nytimes.com/2007/01/31/opini···ord.html
The NSA, at the direction of Bush and his Justice Dept, had been monitoring the phone calls and e-mail messages of Americans for more than four years without first obtaining warrants from the Foreign Intelligence Surveillance Court, as required by the Foreign Intelligence Surveillance Act. | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
·North State Commun..
| Re: Wiretaps said by davoice :» www.nytimes.com/2007/01/31/opini···ord.htmlThe NSA, at the direction of Bush and his Justice Dept, had been monitoring the phone calls and e-mail messages of Americans for more than four years without first obtaining warrants from the Foreign Intelligence Surveillance Court, as required by the Foreign Intelligence Surveillance Act. I remember now. The order states that they can monitor the communication of any party outside the US, even if the other end is located in the US.
Here's a good summary: »en.wikipedia.org/wiki/NSA_warran···troversy
Thanks for the correction.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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ScottMo
Premium,MVM
join:2000-12-15
Stony Brook, NY
| Insider trading investigations usually involve someone in on the activity rolling over. Its hard to make a case without someone actually confessing to getting (or giving) info. Especially in recent years when the insiders are very careful.
»www.businessweek.com/bwdaily/dnf···1827.htm
("...got help from a number of cooperating witnesses, some of whom even secretly recorded conversations...")
»www.nypost.com/p/news/regional/a···OtjcD30O
("...using inside tips from an investment bank employee..")
Going way back to the granddaddy of modern insiders, Michael Milken, Ivan Boesky, & Drexel Burnham Lambert:
»www.nytimes.com/1990/04/21/busin···aud.html
(agreed to ... pay a fine of $100 million and provide evidence about other wrongdoing on Wall Street...)
Boesky got nabbed because he was careless and didn't even bother to try & hide his insider purchases, he just grabbed tens of thousands of shares right before some triggering event time & time again. Once the Feds nabbed him, he just rolled over on everyone.
The government needs to have some reason for sticking a tap on someone's phone (at least I think they still do). Just because someone is successful at trading isn't necessarily a reason. | |
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Matt
Take me down to the paradise city
Premium
join:2003-07-20
Jamestown, NC
·North State Commun..
| Re: Wiretaps said by ScottMo :("...got help from a number of cooperating witnesses, some of whom even secretly recorded conversations...") The linked article notes they even had a guy get them on tape by wearing a wire. These guys were extremely foolish, but criminals usually are.
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"What is conservatism? Is it not adherence to the old and tried, against the new and untried?" - Abraham Lincoln | |
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Hugh Mungus
@bellsouth.net | Yeah, the fact that the perps did not feel the need to avoid open conversations shows just how easy they've had it all along. | |
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ScottMo
Premium,MVM
join:2000-12-15
Stony Brook, NY
| Re: Wiretaps No, it shows how hard it is to actually *prove* insider trading. One only knows it happens if one of the people involved tells. Or doesn't bother to hide it like Boesky.
In my early days in auditing, I briefly did forensic accounting where we tried to recreate financial misdeeds from records (not insider trading, usually fraud, embezzlement, etc.). Its really difficult to prove a misdeed if the criminal takes several minor steps to cover their tracks. You can make suppositions, but that's not usually enough to go to a judge for a wiretap. Most of the time the criminal just gets lazier & lazier until they screw up enough to get caught. | |
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Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
 ·Comcast
| said by Karl Bode :I can't be the only one fascinated that it's 2009 and this is the first time a wiretap was used to bust insider traders? I'm surprised that they used wiretaps to bust insider traders. This means that someone in our government didn't also profit off the illegal clearwire trades. Guess someone at the big ole gov is jealous.
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CheckSite.us | YourIP.us | Reverseip.us | |
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Phil
Rojo Sol
Premium
join:2001-06-11
Camarillo, CA | I want to see more... of these crooks taken down. | |
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SlickEnW
Premium
join:2003-01-21
Seattle, WA
clubs: | Wow this guy probably makes like atleast 1,000,000 times more than I do and they go and do something stupid like this. Greed knows no bounds. | |
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redxii
too big to fail
Premium,Mod
join:2001-02-26
Texas | Re: Wow How dare you. He needed to make payments on his 87th yacht, have you no sympathy? Now he has to make due with 86.
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Peter Schiff for U.S. Senate. | |
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| | BosstonesOwn
join:2002-12-15
Everett, MA
clubs: | Re: Wow Trickle as in piss on the poor ?
Yeah I agree that has been happening for awhile now. | |
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BSD24
Tier 4
Premium
join:2008-04-30
Middleboro, MA
clubs: | Crack down Good thing they had a wiretap (and legal one too).
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BSD | |
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woody7
Premium
join:2000-10-13
Torrance, CA
·EarthLink
·DSL EXTREME
| Re: Crack down This could be because they want the word to get out to let people know they are watching. I'm not sure what they do with the money that was gained through illegal activities. That plus the court costs with having to go through the judicial process are probably quite high,and do to the technical aspects probably a PITA to prosecute, and actually win, but who knows
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BlooMe | |
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royhandy
Panem et circenses
Premium
join:2000-05-23
Yesterday
clubs:
| Judge Rakoff The case has been assigned to Judge Rakoff who is no joke. He's the one who laid the smackdown on the BoA/SEC settlement.
»online.wsj.com/article/SB1252944···051.html
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"Thinking about tomorrow won't change how I feel today" - Matt & Kim, Lessons Learned
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koitsu
Premium
join:2002-07-16
Mountain View, CA
| Photos of the accused I always love posting photos of idiotic executives of this sort...
- Raj Rajaratnam
I can't seem to find a picture of Rajiv Goel of Intel Capital. Safe to say his name has been wiped off their sites entirely.
I'll also add that Robert Moffat of IBM is under scrutiny as a result of the same investigation. Here's a picture of that schmuck:
- Robert Moffat
All of this just goes to show that despite the dot-com bubble bursting years ago and the economy in the slumps, greedy executive idiots continued with their shady behaviour as if they're impervious.
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Making life hard for others since 1977.
I speak for myself and not my employer/affiliates of my employer. | |
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sludgehound
join:2007-03-12
New York, NY
| IBM too and pols play the game. Yes IBM canned a guy today too for same as Intel biz. Kinda cool how Galleon traders turning so fast on their own.
Sharks eating their kind.
Noticed also that Galleon was huge contributor to both Hillary & OB campaigns. Rare for a trading firm to load up so much on just one party. They usually stay out or play both sides.
Lawyers, lobbies, and banks can buy attention better. Traders work both sides so no advantage to any loyalty.
But then Hillary has long standing issues of inside gains from trading cattle futures and other later breaks given her.
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Galleon Group, the hedge-fund firm at the center of the biggest insider-trading case in decades, pushed its traders so hard to get market-moving information that those who failed were frequently berated or pushed out, former employees and people familiar with Galleon said.
Co-founded by Raj Rajaratnam, Galleon is among Wall Street's biggest traders and has a web of contacts among technology and health-care executives, some of whom have been investors in the firm's hedge funds.
Parts of that network appear to have turned on the billionaire investor. Three former colleagues of Mr. Rajaratnam secretly are bolstering the government's probe | |
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Intel Exec Arrested For Illegal Clearwire Trades
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