14 More Charged with Insider Trading

According to this article, fourteen more people have been charged in that Galleon insider trading scandal. That brings the number of people charged up to twenty with law enforcement saying more arrests are coming.

The case has also touched the tech world. This week, Hector Ruiz, former CEO of Advanced Micro Devices, stepped down as chairman of AMD spin-off Globalfoundries. Ruiz is not charged but is linked to the Galleon case in a U.S. attorney's complaint. In addition, Robert Moffat, a senior vice president at IBM who is charged in the case, has left the company. Others at IBM and Intel have been charged as well.

I wonder how much Ruiz made off option trading when AMD's stock jumped from 2$ to 6$.

Good, let's just hope these SOBs do hard time.

Originally Posted by qdemn7

Good, let's just hope these SOBs do hard time.

They might do time but I doubt highly that it will be "hard" time.

Sadly, we are going to see a lot of these arrests for awhile, our financial sector was really jacked up.

They should be treated just like any other thief but of course they won't.

Good story, but it doesn't even touch whats really going on. The news item makes the 53 million sum huge and the war on crime is moving along at a rip snorting pace. Come on, the top CEO's make more then that with bonus's and its all set up to be perfectly legal within the confines of corporate board meetings. Another make you feel good story for Joe six pack and the rest of the world to make it look like white collar crime is being wrestled to the ground, like the War on Drugs.

Originally Posted by Uncle

Good story, but it doesn't even touch whats really going on. The news item makes the 53 million sum huge and the war on crime is moving along at a rip snorting pace. Come on, the top CEO's make more then that with bonus's and its all set up to be perfectly legal within the confines of corporate board meetings. Another make you feel good story for Joe six pack and the rest of the world to make it look like white collar crime is being wrestled to the ground, like the War on Drugs.

I'm confused, are you saying that executive compensation and bonsus should be considered crimes like insider trading?

Originally Posted by qdemn7

Good, let's just hope these SOBs do hard time.

Originally Posted by topslop1

They might do time but I doubt highly that it will be "hard" time.

Im talking federal pounding in the ass prison.

Originally Posted by k1pp3r

I'm confused, are you saying that executive compensation and bonsus should be considered crimes like insider trading?

If the board room is stacked with like minded people which most of them are and their collecting these bonuses when the company is in the red and thousands of workers are losing their jobs. Pause I guess I am, its legalized theft because the boardroom sets the rules on compensation. Like our government who meet in the legislature and vote on their own pay raises. Don't tell me you have been out of the loop these last couple of years.

Originally Posted by Uncle

If the board room is stacked with like minded people which most of them are and their collecting these bonuses when the company is in the red and thousands of workers are losing their jobs. Pause I guess I am, its legalized theft because the boardroom sets the rules on compensation. Like our government who meet in the legislature and vote on their own pay raises. Don't tell me you have been out of the loop these last couple of years.

I'm not out of the loop, and while this is true for companies like GM, AIG and others who were taking huge compensation packages while under federal aid and in the red is insane, you can't expect anyone to work for free, which is what you are asking. Boards should be more responsible yes, but work for free, no. CEO's sacrifice time with family to give people jobs, sometimes they are good, sometimes they arn't

Originally Posted by k1pp3r

I'm not out of the loop, and while this is true for companies like GM, AIG and others who were taking huge compensation packages while under federal aid and in the red is insane, you can't expect anyone to work for free, which is what you are asking. Boards should be more responsible yes, but work for free, no. CEO's sacrifice time with family to give people jobs, sometimes they are good, sometimes they arn't

I don't remember using the word free and or insinuating or implying that.

Originally Posted by Uncle

I don't remember using the word free and or insinuating or implying that.

I don't know what any of this has to do with insider trading

Originally Posted by k1pp3r

I don't know what any of this has to do with insider trading

What was the Raj Rajaratnam billionare's accupation and our ex CEO from AMD and so and so on.

I'm not a financial "guru", but as I understand it these people get busted for getting information that their stock is about to tank and they sell it. What is funny is, they know this so they're supposed to hold on to it? That's the gist of it, right?

Originally Posted by htpc_user

I'm not a financial "guru", but as I understand it these people get busted for getting information that their stock is about to tank and they sell it. What is funny is, they know this so they're supposed to hold on to it? That's the gist of it, right?

The problem is they can short their stock, they make a profit on the up swing and sell, then short sell the stock on the down swing, which the guy on the street can't do because he isn't pervy to the inside information.

Nothing wrong with insider trading. Great way to make cash.

Originally Posted by aKrippler

Im talking federal pounding in the ass prison.

You're sick.