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Tyler, as usual you said it perfectly..........
In my country they say: "strong with the weak, weak with the strong........."
A perfect epitaph....................
That is an interesting saying that I had never heard before. What country is that?
The US I think!
Its a joke - the main targets, or prosecutions are Martha Stewart, Mark Cuban and this former hero. Celebrities and JOE 6p endure the wrath for petty crimes. The powerful commit heinous acts and get off scot free. I suppose it has always been thus...save the times of Andrew Jackson and The Redcoats before that.
That saying is so accurate.
All I gotta say is Michael Moore better ensure he is paid up with the IRS.
The good news is movie is co-producded by brothers Weinstein. One guess on who raised $1b for the Weinsteins.
The song remains the same.
I remember this. While it was supposedly non governmental, in fact the CIA was heavily involved. I wonder if this Reza guy is a member of the CIA "family" and his was a staged "arrest" to make it appear someone is doing something.
Don't forget, today is bank failure Friday. Who will it be this week? Will we hit 100 for the year? Tune in after 6 PM to find out.
Looks like the small banks may be getting their own bailouts. Discussions ongoing...... One wonders if this isn't just a way to indirectly help out the FDIC?
And UnionBanCal is getting $2b from its parent company but this is pruely a precautionary move "to offset possible credit losses of economy weakens further"
Wow I don't remember names that well, but I read that book. It is a fascinating read. Was it ever made into a movie? It should have been...
The book was the shit aber the movie (with richard crenna) not so much. Lets see donatolo scalzo...maybe china?
It's a bit ironic that you're so sympathetic to Mr. Saleh's plight after goading the SEC to pop him.
I suspect most ZH fans wouldn't mind if this story were killed.
Its a terrible irony when your heroes get caught in the ner meant to catch your foes.
But where does it end??? How long can people 'milk' their past deeds???
Look at Charlie Rangel- he won the Bronze Star for valor in the Korean War. Should he be allowed to break the rules for the rest of his life? If that's the case, then he is definitely taking advantage of his heroism. The Economist recently had this article: http://www.economist.com/displayStory.cfm?story_id=14456931
IMO, we should be held accountable for each decision. The problem is the SEC turns a blind eye to massive insider deals, and then arbitrarily prosecutes petty crimes. To give the perception that you can't beat the system, EVERYONE needs to believe they will be prosecuted- otherwise they won't try to circumvent the system. (Think about the IRS or parking meters in a college town.) Even then, it isn't enough (Tim Geithner).
Go after the small fish....
And go to work as a future employee of the BIG FISH....
The SEC needs to go POP!
Greed is find and good for the society as long as it is taken moderately. Overdose on it and it will fuck you up.
It's not about "greed." It's about dishonesty and violating a very specific rule: insider trading.
You just described greed.
Selective prosecution and BS thresholds make "insider trading" a BS offense, in many cases.
Well said and very true!
economy will weaken further if sliding market is not supported. after all stock market drives consumer confidence here !!
Hero to zero. What a shame.
I bought my son, who is now 25, the original PlayStation when he was very young. He and I spent countless hundreds of hours together playing Legend of Zelda.
Your avatar brings back very fond memories. Thanks for the Friday trip down memory lane.
Zelda was never released on PlayStation
The dude is over 50 - you expect him to remember the console?
You're correct. I always mix up the Nintendo and Playstation when discussing the systems. The only games I ever played were Zelda on Ninetendo and Sonic the Hedgehog on Playstation.
It's wasn't the games that were important to me. It was the time with my son.
My avatar is actually from Phantom Hourglass for Nintendo DS, which, to be blunt, really sucked. They don't make Zelda games like they used to.
Or rather, they make 2D Zelda games exactly like they used to, which is the problem.
Moooooom, I told you it was the Nintendo-64 not the Playstation - you're so embarrassing Mom.
Obligatory link http://www.youtube.com/watch?v=pFlcqWQVVuU
To be a hero is to deserve a higher station in
life. Hero's are de facto leaders. Initially then, the heros drinks are paid for and great deference is made. However, as time and newness passes, it comes time for the
hero to grow into leader and pay the tab. Being unable to do so leaves a hero as truly a zero as his inability to lead leaves him worse off than if he had never been a hero at all and this was probably a motivating factor in such a ill conceived plan to obtain wealth and gain his status back.
Very insightful of you, Anonymous. Do I know you?
Until I see the details I won't believe the guys who
missed Madoff, especially Shapiro cuz she's a joke.
Who does this guy think he is? You can't just steal from the NWO Mafia's casino.
House Financial Services Cmte. Hearing on Regulatory Overhaul-Full Hearing Video
Hey he's a risk taking guy!
Sad if true. Those guys that Perot hired to go in there had gigantic fucking balls to do what they did. Even the man Ross himself risked has ass and went in there to help.
All those men are true heroes.
Friday afternoon TD; Any reason why in the above 14 paragraphs that you posted, that you neglected to mention the alleged illegal profits to Saleh are $8,900,000 ? It was clearly stated in the WSJ but somehow didn't make it to ZH.
ZH already mentioned this in an earlier posting.
Reminiscent of the Black Hawk Down hero who came home and was convicted on child molestation charges. Great men are capable of doing horrible things and horrible men are capable of doing great things.
My experience is that popular culture bubbles up from the bottom, ethical culture trickles down from the top. I suggest that Saleh just have the SEC investigators fired if they try to out him. Oh, wait. Sorry. Confused him with John Mack.
Sauce for the goose.
The SEC and CFTC cannot help themselves. They are organizations lost to the process of subordination & corruption and these kinds of actions are all they are capable of.
I can only hope that perhaps Reza Saleh will become one more Miles Kendig and have some fun with the system and the storytelling of his journey through it.
Too bad this Perot employee/hero wasn't better compensated. The Perot family is worth billions. It seems like they could have thrown Saleh a nice bone at some point so he wouldn't feel the need to resort to criminal activity.
Call me a skeptic but according to this:
"The first thing the SEC looks at is the call option activity whenever there's a high profile merger or takeover.
Anything unusual is gonna be flagged".
Since I love you guys for keeping our eye on the SEC, and you're attracting a lot of eyeballs, create a regular feature, "unusual option activity". Since the SEC supposedly acts on this pretty quickly, it should be pretty easy to call them out when they drop the ball.
Otherwise I'm kinda thinking you clever guys frontran the SEC with your "challenge". Say it ain't so, I want to believe in you guys.
You are 100% correct; the SEC has been all over several takeover-related insider-trading in options cases in the past 10 years. It has nothing to do with ZH; it's just something they systematically look for.
There are many good things about this site, but the cheerleading of ZH for something it had nothing to do with is just a mob feeling good about itself.
As for the shock that this guy could be a hero and then a criminal, there's a medical diagnosis for people who see others as all good or all bad: borderline personality disorder.
Our hero sold all his contracts the next day. That's a red neon sign with a blinking arrow......pointing right at him !!
Such a waste of knowledge and intricate planning !!
This is a red herring. Ex Delta Force guys were paid to 'rescue' these employees....
Loyalty and bravery are #1 and #2 qualifications for a Fall Guy.
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