printThe following is from my new column, “Insider Trading Laws = Information Socialism,” now on WND.COM:
“It’s easy to be thrown off scent when trying to divine the vague, ill-defined, unconstitutional laws under which the Securities and Exchange Commission hunts for corporate prey. Suffice it to say that the SEC operates with the understanding that competition in capital markets must proceed from a level playing field. All investors are entitled to the same information advantage irrespective of effort and abilities.
In a word, information socialism.
In their latest efforts to bring ruin to capital markets, SEC blood hounds have ensnared some of the country’s most powerful hedge-fund firms. Indictments are replete with SEC cloak-and-dagger.
There is a Don, ‘Don Chu,’ which is how the accused, Don Ching Trang Chu, is called. A co-conspirator is ‘CC-1.’ And a cooperating witness: ‘CW-1.’ The companies violated, allegedly, are Atheros Communications, Inc. (‘Atheros’), Broadcom Corporation (‘Broadcom’), and ‘Sierra Wireless’—aka ‘The Tech Company.’
… Then there is the ‘The Firm.’ … The ominous entity at the center of the investigation. ….”
The complete column is “Insider Trading Laws = Information Socialism,” now on WND.COM.
Some of you are waiting for, and have been asking about, the publication of Into The Cannibal’s Pot: Lessons For America From Post-Apartheid South Africa. The wait is worse for South Africans who are in the thick of the events my book documents and analyzes—Into The Cannibal’s Pot is a Burkian polemic, steeped in history, reality, fact, and the classical liberal political philosophy.
When I completed the book some months back, the number of Boers murdered was just over 3000. The death toll now stands at 3,756.
The manuscript is currently under consideration. If all fails, fear not (with your help), someone will see to it that the true story of the New South Africa (“Rambo Nation”), as detailed in Into The Cannibal’s Pot, is told. Not everyone inhabits the solipsistic universe in which most American “writers” (and publishers) are mired. Five magnificent men (as writers, thinkers, and human beings) have returned high Praise For The Cannibal. Thank you; you know who you are.
Have a happy Thanksgiving.
I’ve seen companies where some of the big shots screwed the rest of the firm for their own interests.
It is also possible for an “insider” to generate false information with the purpose of manipulating marginal fluctuations up and down. On the other hand, it is quite likely that any governmental intervention would constitute a cure far worse than any (real or imagined) disease.
Having stated my profound skepticism over some sleazy corporate big shots AND zealous government prosecutors, I freely admit my non-expertise.
The whole thing comes back to “Middle Managers” working both sides of the aisle. Managers, nowadays, work for anyone, without any stake in whatever they work in or for. A government or private manager may switch to private and back to government or vice versa. They If they bumble the job, someone else has a job waiting, no ethics in the public or private sectors remain, with the exception of some private companies that still own an interest. Inside trades probably happen a lot more often than we know, just hid well, but if a company is not in league with the ‘good ol boys’ it can get tagged with the charge, guilty or not. Once the smear starts, there is no stopping it.