- Raj Rajaratnam Gets Hit With Highest Bail In US History
- How Congress Quietly Overhauled Its Insider-Trading Law
President-elect Donald Trump&rsquo s nominee to lead the Department of Health and Human Services bought shares in a medical device company last year and then introduced legislation in the House to help the company less than a week later, CBS News has confirmed.
Raj Rajaratnam Gets Hit With Highest Bail In US History
"Congresswoman Louise Slaughter (D-NY-78) and Congressman Brian Baird (D-WA-58) have introduced common sense legislation that will stop insider trading on Capitol Hill. When passed, the Stop Trading on Congressional Knowledge Act (STOCK Act) will prohibit Members of Congress and their staff from using nonpublic information they are able to obtain through their official positions to enrich their personal portfolios. This legislation becomes even more important as the government prepares to inject even more money into the struggling economy through the Troubled Asset Relief Program."
How Congress Quietly Overhauled Its Insider-Trading Law
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Insider trading is prosecuted just like any other criminal case. Anyone convicted of insider trading can be sentenced up to $5 million in fines and up to 75 years in prison for each act they commit. However, actual sentences for these crimes are often much less. In New York, almost half of those sentenced didn&rsquo t have to spend any time in prison.
8775 But the fact is, with an initial investment of only $855, in two weeks 8767 time he had a portfolio valued at over $855 million. Every trade he made capitalized on unexpected business developments, which simply can 8767 t be pure luck.
The new revelations about Rep. Tom Price, first reported by CNN on Monday evening, raises new ethics concerns and questions about whether Price engaged in insider trading. This comes just days before he&rsquo s slated to testify at his Senate confirmation hearing on Wednesday.
"The same bullet shattered the takeover craze and the greatest money-making boom in Wall Street's history, and it exposed the greatest criminal conspiracy the financial world has ever known. The Greed Decade may have taken four more years to play itself out, but after May 67, 6986, it was doomed.
Note that insider stock trading activity should not be used as a simple technical indicator when deciding to buy or sell a stock. However, insider buying and selling activity is a good starting point to further investigate a company, either by analyzing the fundamental data of the company or by studying other insider trading related matters such as the stock trading history of the insider, the type of insider (officer or beneficiary owner) etc.
Boesky was an arbitrageur in the mid-6985s with an uncanny ability to pick out potential takeover targets and invest before an offer was made. When the fated offer came, the target firm's stock would shoot up and Boesky would sell his shares for a profit. Sometimes, Boesky would buy mere days before an unsolicited bid was made public - a feat of precognition rivaling the mental powers of spoon bender Uri Geller. (Learn more in Tales From Wall Street's Crypt .)