Saturday, August 18, 2012

Baseball Hall of Famer Eddie Murray Charged with the Non-Crime of Insider Trading

Baltimore Orioles great Eddie Murray has been charged by the Securities and Exchange Commission with the non-crime of insider trading. This will give the SEC creeps something to talk about when they go home for Labor Day weekend. Yup, the creeps just made the markets less efficient, which results in more of an edge to the elitists.

The SEC on Friday also announced related charges against James Mazzo, former CEO of Advanced Medical Optics, and businessman David Parker. The SEC said Mazzo provided illegal tips about a planned acquisition of Advanced Medical Optics by Abbott Laboratories in January 2009.

Mazzo passed the information to Murray's former teammate, Doug DeCinces, who tipped off Murray and Parker, the SEC alleges in a civil lawsuit. DeCinces settled the SEC's charges a year ago by agreeing to pay $2.5 million.

Meanwhile not a peep about the curious trading of Paul Ryan and Senator Dick Durbin, just before Warren Buffett bought into Goldman Sachs to the tune of $5 billion. Oh yeah, I forgot, Ryan and Durbin weren't subject to insider trading laws when doing congressional business.

UPDATE: Murray has settled with the SEC and paid them off $358,151.


  1. Only outsiders get charged with "insider trading".

  2. Insider trading should be illegal if not all information is disclosed at the time of the sale. If you know your car is going to break down in a week, but you sell it to someone who does not have access to that information, should it not be illegal?

    I agree that there's nothing wrong with insider trading, or trading on inside information, in itself. But if facts are not disclosed, how is it not fraudulent? How is it not the same as a snake oil salesman?