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U.S. Caps Massive Insider Trading Probe

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posted on Nov, 20 2010 @ 05:21 AM
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U.S. Caps Massive Insider Trading Probe



Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter.

The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.

In another aspect of the probes, prosecutors and regulators are examining whether Goldman Sachs Group Inc. bankers leaked information about transactions, including health-care mergers, in ways that benefited certain investors, the people say. Goldman declined to comment.


www.foxnews.com...

commentary:
Goldman declined to comment huh?
do I hear that giant sucking sound
on Wall Street yet? For those who think
that Wall Street is just a meeting place
for financial criminals, then this story
is right up your alley. I wasn't surprised at all
to see Goldman Sachs name mentioned.
Were you??

Also another note to be aware of:
this investigation started 3 yrs ago
before Obama was in the Oval Office.




posted on Nov, 20 2010 @ 05:32 AM
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reply to post by boondock-saint
 


If only they would start with the insider trading before 9/11 I would be a very happy man. There was a great thread on that a week or so ago.
I'm afraid to see how this will end - another disappointing round of botched investigations and compromised prosecutions leading to dropped charges.
Will there ever be a time where money cannot save you in this country?
I pray it's true.
God knows, Bernie Madoff needs some company!
Could we start with Larry Summers? PLZ? PLZ?



posted on Nov, 20 2010 @ 12:14 PM
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Originally posted by Asktheanimals
reply to post by boondock-saint
 


If only they would start with the insider trading before 9/11 I would be a very happy man. There was a great thread on that a week or so ago.
I'm afraid to see how this will end - another disappointing round of botched investigations and compromised prosecutions leading to dropped charges.
Will there ever be a time where money cannot save you in this country?
I pray it's true.
God knows, Bernie Madoff needs some company!
Could we start with Larry Summers? PLZ? PLZ?



Mm, they'll get a slap on the wrists.

second



posted on Nov, 20 2010 @ 05:54 PM
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Originally posted by Asktheanimals
If only they would start with the insider trading before 9/11 I would be a very happy man.

I would agree however, they would have no evidence.
Remember, 9/11 brought down the buildings that
stored that evidence. The evidence for worldcom
and enron were stored in a vault at the SEC in
WTC7.



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