Re:Mark Cuban insider trading trial set to start
by jack-r-abbit on Monday September 30, 2013 @06:52PM
(#6472898)
Cuban argued he was allowed to sell. And this judge agreed. So this still might be a gray area. But I am not a lawyer... or an inside trader.
Re:Mark Cuban insider trading trial set to start
by rayiner on Monday September 30, 2013 @06:54PM
(#6472904)
Note I'm not saying he did anything wrong. What I mean is that if he did, it'll be easy to explain what it was he did wrong. It won't be something like "he should have classified these tax credits under this accounting rule you don't understand instead of this other accounting rule you don't understand."
Re:Mark Cuban insider trading trial set to start
by jack-r-abbit on Monday September 30, 2013 @07:02PM
(#6472932)
My bad. I did not mean to imply you said he did anything wrong. What I meant was that if it is a gray area, even if he did do something wrong, it might not be so easy to explain it to grandma either.
The SEC doesn't avoid people who are "juiced in" to the government. It prosecutes cases it can win. Bankers spend a lot of time figuring out where the line is and staying on the right side of it. To the extent they do anything wrong, prosecuting them involves getting a jury to understand reserve ratios and risk models and other things they won't understand. But insider trading is easy to understand. He had this insider information, and did this trade that saved him $750k. I can explain that to grandma. Its easy. Which is why bankers don't get caught doing it, but less plugged in people do.