Invest Intelligence When It Realy Matters
More Hot Air from the SEC
Today, an article appeared discussing how the SEC has been investigating an "insider trading network." Although the details have not been released, several prominent hedge funds were mentioned as potential alleged violators.
I want to be clear that this is merely a smoke screen. Even if charges are brought against these funds, this would represent a drop in a vast ocean of insider trading that has come to characterize all of Wall Street.
The SEC remains desperate to try and restore investor confidence after the biggest stock market scam in world history. I'm not talking about Bernie Madoff's Ponzi scheme. You will recall that his scam had nothing to do with the global collapse. In fact, Madoff was a victim of the larger fraud perpetrated by Wall Street. The SEC and the media have used Madoff as the sacrificial lamb in order to shield the much bigger criminals, whose fraudulent actions have affected every person on earth.