billy walters indictment

[TheComputerGroup]

If he was a senator he would be found INNOCENT, as it is LEGAL for poloticians to operate on insider information,,

fucked up shit huh??,

cheersgif

Insider trading happens every day, but it seems the feds are selective on who they go after. If you have connections with big name politicians, you are covered usually from getting in trouble.

The feds have had a hard on from BW since the 1980's.......BW beat the govt in a 5 year battle in court in 2002, & they've been salivating to get him.

Either BW thinks he's untouchable & he thought he would get away with it because he's beaten every court case in the past or somebody set him up.......I just don't think BW is so stupid to do what they say, & don't believe everything you read.

Then again, maybe BW thought he was smart enough to get away with it......I would love to read the court transcripts or hear what offer the feds throw at him, that's even if they offer him any, because the looks of it, they gave him over a barrel with 2 snitches that gave him up.

 

[VIEJODINOSAUR]

he also cheats at golf....

 

[tatehill2000]

You sir, are incorrect. Passed in 2012, the STOCK Act is still in effect and was meant to curb insider trading for lawmakers and their staffs.

on POINT!! geesh,,, didnt even see that went through,,

thanks for update Enfuego

 

[JackStraw77]

I read the indictment the pattern repeats itself over and over. Walters speaks to Davis then calls broker and executes large trades. He either bought or sold depending on what he was told the earnings would be. He even placed trades through and offshore corporation call Nature Development B.V.. Walters made the same mistake Bud Fox did in the movie Wall Street. Billy should have found his James Spader/Rodger Barnes to park his trades with then if it hit he gives the guy a big cut. Blue Horseshoe loves Dean Foods. Check the Arbs.

 

[fightgood]

I read the indictment the pattern repeats itself over and over. Walters speaks to Davis then calls broker and executes large trades. He either bought or sold depending on what he was told the earnings would be. He even placed trades through and offshore corporation call Nature Development B.V.. Walters made the same mistake Bud Fox did in the movie Wall Street. Billy should have found his James Spader/Rodger Barnes to park his trades with then if it hit he gives the guy a big cut. Blue Horseshoe loves Dean Foods. Check the Arbs.

Blue Horseshoe loves Dean Foods. Lol

 

[brucefan]

Why insider trading should be legal

http://www.marketwatch.com/story/why-insider-trading-should-be-legal-2011-05-17

"Insider trading is actually an active good. Markets work best when goods are priced accurately, which in the context of stocks means that firms' stock prices should accurately reflect their strengths and weaknesses. If a firm is involved in a giant Enron-style scam, the price should be correspondingly lower. But, of course, until the Enron fiasco was unearthed, its stock price decidedly did not reflect that it was cooking the books. That wouldn't have happened if insider trading had been legal. The many Enron insiders who knew what was going on would have sold their shares, the price would have corrected itself and disaster might have been averted. "
http://www.cnbc.com/id/

 

[Betallsports]

bottom line is that the Feds went after Davis, and he rolled on Billy W.

I just hate Rats !

 

[SmokeyLa]

Fuck him. he's a greedy fuck if true. The guys was blessed with the gift and smarts to beat one market already and made millions doing it . However like so many greedy rich, they just cannot fundamentally stop from taking more and more dough if they think they can make it. Never mind the guy was in his 60's and probably worth tens if not hundreds of millions already. His fucking best friends with the CEO of the company he's insider trading on. Unreal thought process there

Dude should have been relaxing, golfing and spending his money- not comitting federal crimes and booking Phil fucking Michelsons action.

By the way, how does Phil not have the dough to pay a million in losses? He had to scam with Billy to get the money?

 

[Betallsports]

Fuck him. he's a greedy fuck if true. The guys was blessed with the gift and smarts to beat one market already and made millions doing it . However like so many greedy rich, they just cannot fundamentally stop from taking more and more dough if they think they can make it. Never mind the guy was in his 60's and probably worth tens if not hundreds of millions already. His fucking best friends with the CEO of the company he's insider trading on. Unreal thought process there

Dude should have been relaxing, golfing and spending his money- not comitting federal crimes and booking Phil fucking Michelsons action.

By the way, how does Phil not have the dough to pay a million in losses? He had to scam with Billy to get the money?

It's same when he bets on Games ... a lot of his gambling is on Information. He has people at games.. he gets info about Players. So he took advantage when finding out about this company.

and it's not the First Rodeo for him and Michelson .... They did this with another stock a few years ago .. I believe it was procter and gamble

I'm guessing that if someone Owes him money from gambling loses ... to pay the debt ... and you have Info that Billy can use, that's how they pay it back

 

[PatsFan1283]

Why insider trading should be legal

http://www.marketwatch.com/story/why-insider-trading-should-be-legal-2011-05-17

"Insider trading is actually an active good. Markets work best when goods are priced accurately, which in the context of stocks means that firms' stock prices should accurately reflect their strengths and weaknesses. If a firm is involved in a giant Enron-style scam, the price should be correspondingly lower. But, of course, until the Enron fiasco was unearthed, its stock price decidedly did not reflect that it was cooking the books. That wouldn't have happened if insider trading had been legal. The many Enron insiders who knew what was going on would have sold their shares, the price would have corrected itself and disaster might have been averted. "
http://www.cnbc.com/id/

That might be true but almost all of the gains in a market that allowed insider trading would go to those privy to the info, which is .01% of market participants.

It is zero-sum game vs the current situation, the returns don't change, they just get redistributed away from the average investor.

 

[DNoonan]

yeah, not sure why I would want to participate if I knew the insiders could always beat me to every trade?

 

[PatsFan1283]

DNoonan you are the insiders, who are you kidding...

 

[TheComputerGroup]

BW is like Axel from the show Billions......its about getting an edge & investing in the opportunity that most don't receive, whether its sports or the stock market. Is it greediness? The rich always want to get richer, just ask Bill Gates & the rest of the billionaire company owners.....these guys never stop wanting to make more money, its about power & ego.

The thing is tho, your ego can come back & bite you on.the ass, & that's what happened to BW.

 

[brucefan]

That might be true but almost all of the gains in a market that allowed insider trading would go to those privy to the info, which is .01% of market participants.

It is zero-sum game vs the current situation, the returns don't change, they just get redistributed away from the average investor.

And you think this doesn't happen everyday anyway?

 

[PatsFan1283]

And you think this doesn't happen everyday anyway?

Are you saying this is a good thing? Why would we want make it easier for this to happen?

To say the SEC doesn't play a significant role in curbing insider trading is wrong. The disclosure process atleast has some transparency. The alternative would be far worse.

 

[Akillies]

this is a case of "how long" not "did he do it"
as in 5-7 yrs.

 

[brucefan]

Are you saying this is a good thing? Why would we want make it easier for this to happen?

To say the SEC doesn't play a significant role in curbing insider trading is wrong. The disclosure process atleast has some transparency. The alternative would be far worse.

Worse for who? If the people had information and acted on that information, price will reflect that right away . Seems to me you would it a safer environment for little guy to invest as your buying into a more accurate pricing of that security

 

[barman]

I'm doubting he beats this one. When the Feds have a hard on for you they won't stop.

Ayuh....when federal prosecutors obtain a criminal indictment they prevail with a conviction in over 95% of cases.

No parole in the fed prison system, either

 

[PatsFan1283]

Worse for who? If the people had information and acted on that information, price will reflect that right away . Seems to me you would it a safer environment for little guy to invest as your buying into a more accurate pricing of that security

It might make the market more efficient, but who is taking advantage of the initial inefficiencies?

The overall gains aren't changing. It is a zero-sum scenario. They're just being directed to those with insider information. Thus the final result will just be less $ for the rest of us.

There are some industries where it would be absolutely pointless to invest in if insider trading was encouraged. Biotech comes to mind.

Yeah you might be able to avoid the next Enron, but that is a far more rare scenario than the article would like you to believe. Enron/Worldcomm stuff was 15 years ago.

 

[CHOPTALK]

Don't worry people I'm not going to serve much time but I should have never told phil