Welcome back E/O, leagl and Fringey: no one say the name "Penske" 3 times in a row - Page 97

ThurgreedMarshall · 10-28-2009, 02:50 PM

Quote:

Originally Posted by greatwhitenorthchick

Jesus -- I borrowed this guy's notes for Evidence once:

http://amlawdaily.typepad.com/amlawd...n-tragedy.html

Is that you Stanko?

TM

ThurgreedMarshall · 10-28-2009, 02:53 PM

Quote:

Originally Posted by LessinSF

Can you see this story as an opera? No? Ergo, it is not a tragedy.

Best definition of "tragedy" ever.

TM

LessinSF · 10-28-2009, 02:54 PM

Quote:

Originally Posted by ThurgreedMarshall

After watching that, I'm going to have to have someone explain white people to me. Let's start from scratch.

TM

Only if someone can explain Microsoft's brain-dead marketers to me - http://www.sfgate.com/cgi-bin/blogs/...id=50476&tsp=1 .

greatwhitenorthchick · 10-28-2009, 03:02 PM

Quote:

Originally Posted by ThurgreedMarshall

Best definition of "tragedy" ever.

TM

I thought the best definition was when the feeling's gone and you can't go on.

Hank Chinaski · 10-28-2009, 03:05 PM

Quote:

Originally Posted by ThurgreedMarshall

After watching that, I'm going to have to have someone explain white people to me. Let's start from scratch.

TM

the onlieiest thing you need to know is, if you're on a cul-de-sac and people are all wearing red snuggies DO NOT pull out your blue one.

Adder · 10-28-2009, 03:05 PM

Quote:

Originally Posted by Fugee

I don't think it is difficult to detect that insider trading has occurred but may be more difficult to figure out who is doing the trading.

Who is doing the trading is the easy part (and the basis of "do you know any of these people" FINRA requests that sometimes come around after a deal closes). The hard part is who is doing the tipping, which is where your list making comes in.

Quote:

If someone got the information by snooping around the offices, it would be easier to get away with it.

Yes and no. As I assume a person who would be willing to engage in insider trading likely would have no problem saying, "I don't know any of those people" even though his tippee is on the list, he probably isn't that easy to identify anyway.

PresentTense Pirate Penske · 10-28-2009, 03:05 PM

Quote:

Originally Posted by Hank Chinaski

2

If it makes you feel any better, if I knew what Blakes was, I might be impressed.

John Phoenix · 10-28-2009, 03:17 PM

Quote:

Originally Posted by PresentTense Pirate Penske

If it makes you feel any better, if I knew what Blakes was, I might be impressed.

Some Canadian you are.

Mmmm, Burger (C.J.) · 10-28-2009, 03:18 PM

Quote:

Originally Posted by Adder

I assume a person who would be willing to engage in insider trading likely would have no problem saying, "I don't know any of those people" even though his tippee is on the list, he probably isn't that easy to identify anyway.

What if the tipper merely mentions some key fact innocently:

Evidence Note taker: Hey, how's the Dow Jones deal going?
Unwitting tipper: Dude, it's sucking. I'm going to be up 48 hours over the weekend for a Monday close.
[days later]
SEC: So, unwitting tipper, did you talk to any of the people on this list while grabbing a Snickers?

Adder · 10-28-2009, 03:31 PM

Quote:

Originally Posted by Mmmm, Burger (C.J.)

What if the tipper merely mentions some key fact innocently:

Evidence Note taker: Hey, how's the Dow Jones deal going?
Unwitting tipper: Dude, it's sucking. I'm going to be up 48 hours over the weekend for a Monday close.
[days later]
SEC: So, unwitting tipper, did you talk to any of the people on this list while grabbing a Snickers?

Feel free to change the hypo all you want, but the guy who offed himself was allegedly not an unwitting tipper.

But if your unwitting tipper was saying this to someone within his firm, yes, that was my point. It would not be hard to get info by talking to people around the office, and even if you did, that would get you on the list of people who had information, but if you weren't trading ourself (as the dead guy didn't seem to be), it would still make identifying your note taker as the real tipper quite difficult.

Fugee · 10-28-2009, 03:42 PM

Quote:

Originally Posted by Adder

Feel free to change the hypo all you want, but the guy who offed himself was allegedly not an unwitting tipper.

But if your unwitting tipper was saying this to someone within his firm, yes, that was my point. It would not be hard to get info by talking to people around the office, and even if you did, that would get you on the list of people who had information, but if you weren't trading ourself (as the dead guy didn't seem to be), it would still make identifying your note taker as the real tipper quite difficult.

If it is not hard to get info by talking to people around the office, there are too many loose lips.* Firms regularly talk to people working on these kinds of deals about the importance of not talking to anyone about the deal, not even within the firm. Not even if they otherwise work on matters involving the company.

*Yes, I know it happens.

Mmmm, Burger (C.J.) · 10-28-2009, 03:45 PM

Quote:

Originally Posted by Adder

Feel free to change the hypo all you want, but the guy who offed himself was allegedly not an unwitting tipper.

But if your unwitting tipper was saying this to someone within his firm, yes, that was my point. It would not be hard to get info by talking to people around the office, and even if you did, that would get you on the list of people who had information, but if you weren't trading ourself (as the dead guy didn't seem to be), it would still make identifying your note taker as the real tipper quite difficult.

Huh? Cornblum was sneaking around the office in early hours. How is it just as easy to connect him to the insider trading if he's going around asking people what they know? It's a lot more likely for the SEC to make a connection when someone working on the deal can say "whoops, I must have said something to Cornblum" than "whoops, I must have tossed some notes in the trash can and someone grabbed them out."

Adder · 10-28-2009, 03:47 PM

Quote:

Originally Posted by Fugee

*Yes, I know it happens.

This is an understatement.

Adder · 10-28-2009, 03:53 PM

Quote:

Originally Posted by Mmmm, Burger (C.J.)

How is it just as easy to connect him to the insider trading if he's going around asking people what they know?

I said neither is easy.

Quote:

It's a lot more likely for the SEC to make a connection when someone working on the deal can say "whoops, I must have said something to Cornblum" than "whoops, I must have tossed some notes in the trash can and someone grabbed them out."

Right, but this doesn't mean anything unless Cornblum himself was doing the trading, which based on that story it doesn't sound like he was. Which means that now Cornblum gets asked, "do you know any of these people [who traded in the stock befor the announcement]?" Given that he is already breaking the law by tipping, he isn't going to hesitate to lie and say he doesn't, leaving the investigators to have to connect him to someone extrinsically, which isn't easy unless the tippee is a family member.

If Cornblum himself is trading on information from his firm, he is likely pretty easy toast whether someone remembers saying something to him or not.

greatwhitenorthchick · 10-28-2009, 04:18 PM

Lilith Fair is returning: http://artsbeat.blogs.nytimes.com/20...-fair-returns/