{"id":3424,"date":"2010-11-21T01:41:42","date_gmt":"2010-11-21T09:41:42","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=3424"},"modified":"2010-11-21T01:51:57","modified_gmt":"2010-11-21T09:51:57","slug":"bankster-bust","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2010\/11\/21\/bankster-bust\/","title":{"rendered":"Bankster Bust?"},"content":{"rendered":"

There could be sad tidings for the Republican Party, bringing mourning, the rending of garments, wailing and gnashing of teeth.\u00a0 Some of their very favorite constituents, ones who helped buy their offices with secret contributions for advertising corporate political lies, may be making license places.\u00a0 It may be that a bevy of banksters are going to jail.<\/span><\/p>\n

\"capitalism\"Insider-trading charges are being prepared against a vast network of consultants and traders across the US financial industry in a years-long probe that a report suggests will reveal a pervasive culture of backroom dealing<\/strong>.<\/p>\n

The investigation could be the largest insider-trading probe in US history, The Wall Street Journal said Saturday citing people close to the issue, with federal officials examining if multiple, organized insider-trading rings reaped illegal profits of tens of millions of dollars<\/strong>.<\/p>\n

Some charges could be brought before the end of the year<\/strong>, the Journal said.<\/p>\n

The criminal probe is examining some three dozen companies in the probe, which is examining the “expert networks” to clients such as hedge funds and mutual funds, which connected managers of companies with investors in a bid to offer inside tracks on financial deals<\/strong>, according to the report.<\/p>\n

Highlighting a focus on insider-trading by the Manhattan US attorney Preet Bharara, the Journal noted he has called the issue a “top criminal priority” for his post.<\/p>\n

“Illegal insider trading is rampant and may even be on the rise<\/strong>,” Bharara warned in a speech last month.<\/p>\n

Pinpointing over a dozen companies based on both US coasts, the Journal reported that a federal grand jury in New York has already heard evidence in parts of the criminal probe.<\/p>\n

Among those being investigated, the newspaper said prosecutors were examining whether bankers with the Goldman Sachs<\/strong> Group leaked information about transactions, including health-care mergers, in a bid to benefit investors.<\/p>\n

Inside traders are generally known to profit after being tipped off on deals ahead of time — for example, giving them an opportunity to buy stocks before acquisitions, and then selling them after the shares rise in value\u2026 [emphasis added<\/em>]<\/p><\/blockquote>\n

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It couldn\u2019t happen to a more deserving bunch of Republicans.\u00a0 The information is still quite sketchy, so I may be getting my hopes up for nothing.\u00a0 However, if this putes sufficient fear into banksters to impel them to operate within the law, they will have less to spend on buying Republicans.\u00a0 It also points out the need for requiring more transparency in financial markets.\u00a0 Of one thing you can be sure.\u00a0 Were there a Republican in the White House, this would bave been blocked, as they almost blocked the Bernie Madoff investigation.\u00a0 That went forward only because he was stealing mostly from the rich.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

There could be sad tidings for the Republican Party, bringing mourning, the rending of garments, wailing and gnashing of teeth.\u00a0 Some of their very favorite constituents, ones who helped buy their offices with secret contributions for advertising corporate political lies, may be making license places.\u00a0 It may be that a bevy of banksters are going […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3424","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/3424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=3424"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/3424\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=3424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=3424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=3424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}