Saturday, October 17, 2009

Political Correctness at the SEC

The SEC has turned the concept of politically correct on its head. White anglos are rarely touched by them. They are the politically correct group to be protected at 100 F Street, Northeast. Others beware.

Hedge fund operator and Sri Lankan native, Raj Rajaratnam has been busted on charges of trading on insider information. Others busted include, Anil Kumar and Rajiv Goel.

A couple of Caucasians brought up the rear: Danielle Chiesi, Mark Kurland and Robert Moffat.

Other ethnics the SEC has focused on in the past include Jews: Michael Milken, Dennis Levine, Ivan Boesky, Sam Waksal and Mark Cuban (A Russian Jew), and also Martha Stewart (She is Polish-Catholic).

When the SEC's isn't busting ethnics, it seems to specialize in insider traders who date strippers and the like. I'm not kidding. I think they must have a contest to see who can one up the other with hot babes at depositions.

James J. McDermott Jr got busted after he tipped off an X-rated movie actress he was dating.

Workers at Goldman Sachs and Merrill Lynch were busted as a part of an insider trading ring after using exotic dancers in their scheme.

Matthew Devlin a Lehman Brothers broker tipped Jamil Bouchareb who provided the information to his girlfriend, Maria Checa, a Playboy playmate. They all got busted.

Insider trading is an absurd crime--insider trading does nothing but make the market more efficent. There is as much wrong with insider trading as there is in drinking milk.

But, if you want to dabble a bit yourself, stay away from having ethnics or hot babes in your trading circle. And if you really want a little extra insurance that you won't get harassed by the SEC, get a Congressman in your circle. The SEC won't come near you.

And, if you are an ethnic, you better be a Goldman Sachs ethnic.


  1. I think Bob Murphy is going to be upset you posted no pictures of hot-babe informants.
    And so am I.

  2. Completely agree with Robert's assessment of insider trading - it should not be a crime. Of course the SEC itself should be abolished. Another gov't bully agency that is dangerous to honest people and useful to looters employed by the gov't.