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Whistleblower exposes insider trading program at JP Morgan.

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chimper Donating Member (142 posts) Send PM | Profile | Ignore Wed Mar-26-08 09:13 PM
Original message
Whistleblower exposes insider trading program at JP Morgan.
Monday March 17, 2008

Whistleblower exposes insider trading program at JP Morgan.

A confidential memo obtained by Wikileaks shows that not only has the U.S. Securities and Exchange Commission created an insider trading loophole big enough to drive a truck through, but that Wall Street is taking full advantage of it, establishing 'how-to' programs and even client service divisions to help well-heeled clients circumvent insider trading regulations.

http://wikileaks.org/wiki/Whistleblower_exposes_insider_trading_program_at_JP_Morgan
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ellenfl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 09:18 PM
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1. will anyone hear the whistle or will this die on the vine? eom
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fascisthunter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 09:23 PM
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2. Yeah... there's No Such Thing as a "Glass Ceiling"
Surrrrre....


The corrupt at the top just stack the odds in their favor so much so, no one else can compete. How do dishonest Americans compete with honest Americans? They don't... they cheat.
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RB TexLa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 09:26 PM
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3. There is nothing illegal in that. It's not really a hidden program even
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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 09:58 PM
Response to Reply #3
4. It is illegal if the sale program under 10b5-1 is a sham - and this sounds like it is
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RB TexLa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 10:06 PM
Response to Reply #4
5. It's within the law
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The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-26-08 10:31 PM
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6. Raise your hand if you suspected that this kind of dirty pool was happening.
:hi:
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chimper Donating Member (142 posts) Send PM | Profile | Ignore Thu Mar-27-08 02:53 AM
Response to Reply #6
7. Certainly not.
The market is a level playing field and Wall St is full of very honest people of integrity.
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