1. Attachments are working again! Check out this thread for more details and to report any other bugs.

Rove Libby Insider Trading

Discussion in 'Fred's House of Pancakes' started by mojo, Jul 25, 2007.

  1. mojo

    mojo Senior Member

    Joined:
    Sep 28, 2006
    4,519
    390
    0
    Location:
    San Francisco
    Vehicle:
    2012 Prius v wagon
    Model:
    Three
    While reading up on the Ca energy crisis I stumbled upon a blurb which I hadnt heard before.
    Both Rove and Libby sold their Enron stock a few months before Ken Lay divested.
    Rove sold between $100,000 and $250,000.
    This was obviously traded on inside information.
    What is particularly disgusting is that this was at the time when Lay was telling Enron employees to buy more Enron stock.
    There was never any SEC investigation.But the SEC did go after Martha Stewart, a Democratic fundraiser.
     
    #1 mojo, Jul 25, 2007
  2. ohershey

    ohershey New Member

    Joined:
    May 11, 2007
    632
    2
    0
    Another example of the well documented anti-doily bias of the liberal media.
    No, actually, on second thought, it's a sound business decision. Anyone could tell you that Karl Rove and Scooter Libby are evil - that's old news. That doesn't sell papers / increase ratings.

    Now, "Martha Stewart is an evil profit-mongering b..... bad person" will sell some papers!
     
    #2 ohershey, Jul 25, 2007
  3. Godiva

    Godiva AmeriKan Citizen

    Joined:
    Apr 8, 2005
    10,339
    14
    0
    Location:
    San Diego, CA
    Vehicle:
    2005 Prius
    In this case I'd say ...no.

    A few days or even weeks prior and I'd say yes, insider info.

    But a few months? No, they were just astute enough to see the writing on the wall and know eventually Lay would go down. Of course, knowing the man personally, they knew what he was up to and that it wouldn't last. But that's hardly insider trading. Just dishonor among thieves.
     
    #3 Godiva, Jul 25, 2007
  4. TonyPSchaefer

    TonyPSchaefer Your Friendly Moderator
    Staff Member

    Joined:
    May 11, 2004
    14,816
    2,496
    66
    Location:
    Far-North Chicagoland
    Vehicle:
    2017 Prius Prime
    Model:
    Prime Advanced
    I feel a little dirty for saying this, but I agree with Godiva on this one. Wait: that came out wrong.

    I fully agree with Godiva and feel dirty in that I don't think they did anything illegal in this case. The question I would ask is, "did the stock go up or down AFTER they sold?" If it went up, they were probably kicking themselves for getting out when they did. But - in the case of Martha - if the stock immediately dropped then I would be suspicious.

    To me, it sounds as though even the Devil's advocate has risk avoidance levels.
     
    #4 TonyPSchaefer, Jul 26, 2007
  5. scargi01

    scargi01 Active Member

    Joined:
    Mar 20, 2007
    784
    57
    0
    Location:
    Missouri
    Vehicle:
    2005 Prius
    <div class='quotetop'>QUOTE(TonyPSchaefer @ Jul 26 2007, 08:11 AM) [snapback]485337[/snapback]</div>
    It makes you feel dirty to question the accusations of an insider trading conspiracy theory for which there is no evidence presented other than “This was obviously traded on inside information� <_<
     
    #5 scargi01, Jul 26, 2007
  6. FiftyOneMPG

    FiftyOneMPG New Member

    Joined:
    Jul 14, 2007
    62
    0
    0
    <div class='quotetop'>QUOTE(05_SilverPri @ Jul 26 2007, 08:21 AM) [snapback]485347[/snapback]</div>
    I read it here on the internet, so I'm sure it's true... and mojo wouldn't just make something like that up. <_<
     
    #6 FiftyOneMPG, Jul 26, 2007
  7. mojo

    mojo Senior Member

    Joined:
    Sep 28, 2006
    4,519
    390
    0
    Location:
    San Francisco
    Vehicle:
    2012 Prius v wagon
    Model:
    Three
    <div class='quotetop'>QUOTE(TonyPSchaefer @ Jul 26 2007, 08:11 AM) [snapback]485337[/snapback]</div>
    He was very lucky to get out when he did.
    [attachmentid=10161][attachmentid=10162]
     

    Attached Files:

    #7 mojo, Jul 26, 2007
(You must log in or sign up to post here.)