Former Microsoft Exec Charged With Insider Trading

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Hey everybody, I have a great idea! Let's all get arrested and ruin our lives over a measly $400k (split two ways). Oh c'mon, it'll be fun! :rolleyes:

Former Microsoft senior portfolio manager Brian Jorgenson has been charged with insider trading by the U.S. Securities and Exchange Commission (SEC). The SEC said in a statement published Thursday that Jorgenson obtained confidential information ahead of company announcements and used the knowledge to exploit the stock market.
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I will never understood how some people will just throw away everything they worked for :/ greedy bastards
 
Sickb0y said:
I will never understood how some people will just throw away everything they worked for :/ greedy bastards
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Watch American Greed on CNBC. It'll show you the depths of how far greed will take a person. I just watched an episode on how a person went from having almost $1B dollars to being in jail for 15 years, all because he wanted more.
 
not all of wallstreet are villians like the media describes them as
 
Sickb0y said:
I will never understood how some people will just throw away everything they worked for :/ greedy bastards
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I will never understand why knowing information about the company you work for is illegal. Yeah I understand that "it's the rules" but it's like saying "You're going to take a beating... if you don't take it today, we're going to kick your ass tomorrow"
 
sfsuphysics said:
I will never understand why knowing information about the company you work for is illegal. Yeah I understand that "it's the rules" but it's like saying "You're going to take a beating... if you don't take it today, we're going to kick your ass tomorrow"
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It's not the knowing, it's the using of that information for personal gain that is a problem.
 
As part of their perks the Senate has access to insider info anytime they want. "Screw You" to the great unwashed.
 
sfsuphysics said:
I will never understand why knowing information about the company you work for is illegal. Yeah I understand that "it's the rules" but it's like saying "You're going to take a beating... if you don't take it today, we're going to kick your ass tomorrow"
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Exactly. I don't keep up with a lot of stuff like this so I might be wrong but didn't Martha Stewart get information letting her know she would lose a lot of money? She was just supposed to take the loss?
 
htpc_user said:
Exactly. I don't keep up with a lot of stuff like this so I might be wrong but didn't Martha Stewart get information letting her know she would lose a lot of money? She was just supposed to take the loss?
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So a CEO finds out that their public traded company is about to take a massive hit, then uses that information to protect their personal position while leaving the general investor in a 401k high and dry.

If the problem here isn't beyond clear there's nothing else I can add.
 
heatlesssun said:
So a CEO finds out that their public traded company is about to take a massive hit, then uses that information to protect their personal position while leaving the general investor in a 401k high and dry.

If the problem here isn't beyond clear there's nothing else I can add.
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It's not just a matter of a CEO protecting their personal finances. It's also the fact that the CEO can manipulate the public into purchasing their stock to raise their stock prices and then the CEO can sell the massively inflated stock price to take advantage. And I guarantee that the CEO can do this while still being within legal bounds of publicity of enterprise operations.

Therefore, the best way to stem such tempting corruption is to make it completely illegal.
 
Alai said:
It's not just a matter of a CEO protecting their personal finances. It's also the fact that the CEO can manipulate the public into purchasing their stock to raise their stock prices and then the CEO can sell the massively inflated stock price to take advantage. And I guarantee that the CEO can do this while still being within legal bounds of publicity of enterprise operations.

Therefore, the best way to stem such tempting corruption is to make it completely illegal.
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I completely agree. I'm just a low level software pawn at a big bank, but many like us see TONS of financial data that's not generally known to the public. I can't possibly believe that anyone would want all of us taking that data and acting on it for personal gain. Obviously a CEO could do MUCH more, but the point is still the same. Indeed little guys like me can't even invest in anything without all kinds of approvals because of the nature of the data that our systems deal with.

I can't imagine that any company that said publically "Hey any of our employees can take information that they see and make bucks!" would be well received beyond any legal implications.
 
I predict this guy will be reamed with a fine as high as $20,000 and 16 hours of community service. Not that, but losing his job at MS will only net him 2 years of salary as severance. That's probably no more than $1 million.
 
Wrecked Em said:
I predict this guy will be reamed with a fine as high as $20,000 and 16 hours of community service. Not that, but losing his job at MS will only net him 2 years of salary as severance. That's probably no more than $1 million.
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This. Everyone knows that a wealthy person getting meaningful punishment is about as rare as a poor person winning the lottery, if not more rare.
 
Insider trading is a minuscule problem compared to some of the the legal shenanigans that go on inside the stock market. One thing that bothers me is when a company goes public for the first time, they let big "eligible" investors buy shares of the new company for lower than opening value. Everyone should be entitled to this...
 
Sickb0y said:
I will never understood how some people will just throw away everything they worked for :/ greedy bastards
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I will never understand why some people believe charges by Federal Prosecutors equals quilt... ask Mark Cuban.
 
htpc_user said:
Exactly. I don't keep up with a lot of stuff like this so I might be wrong but didn't Martha Stewart get information letting her know she would lose a lot of money? She was just supposed to take the loss?
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Martha Stewart was never convicted of insider trading, they could not make that stick so the Prosecutor stated charging her with other offenses till they confused a jury enough to get a conviction. Martha Stewart was railroaded plain and simple.
 
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