Wall Street likes you to think that all the trading they do is legal and that there is no “Insider Trading”, however many people who have worked on Wall Street and investment firms clearly know that insider trading happens all the time.
The SEC (Security Exchange Commission) let’s it happen and they turn a blind eye to their buddy’s at large investment firms. The only time when they step in and start charging people is during a big economic downturn and they need a scape goat to make it look like that the SEC is actually doing their job.
The stock market is rigged and everyone knows it. It is a game where executives of large investment companies like Goldman Sach’s and others give their country club friends information to profit large in the stock market, while the retail individual investors get second hand information where the profit potential is substantially lower. As well, executives of companies like AMD in this case scheme with Wall Street to make money in the stock market. Now, ask yourself is this fair? Clearly it is not.
This is the reality and as you listen to some of the conservations between Raj Rajaratnam and some company executives you will see that this is quite normal on Wall Street and usually covered up well. I’ve had friends who have worked on Bay Street…the Wall Street of Canada who talks about people profiting from insider information all the time.
Read the article and listen to the audio
http://www.cnbc.com/id/42155133/
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