Gary,
Stop drinking wacky patty's kool-aid! While you were out drinking the wacky conspiracy brew, Tracy scooped you on the real story of the day.
Keep up the otherwise good work.
Cheers.
P.S. I would be willing to bet that there is much more to the story of Aguire. Did you notice that one of the congressmen heading the investigation was none other than Byrne family contribution recipient Arlen Spector.
Anon: don't let yourself be confused by the Baloney Brigade's embrace of the Aguirre. The thing they fear most is a strong SEC that will stand up to them and to Byrne's naked effort to buy political influence.
Aguirre is an incredible pant-load.
You might want to read through this some time, if you're really that interested in him:
http://www.sec.gov/news/
testimon...ts120506lct.pdf
The attachments that outline Aguirre's misconduct begin on the 8th page. Suffice it to say that he really had no business working at the SEC in the first place.
Aguirre's allegations certainly created a stir and have been embarrassing for the SEC.
Now just imagine how embarrassed the SEC might have been if they'd let Aguirre go and do a Mike Nifong on John Mack. THAT would have been a heinous PR nightmare.
As for Pequot's guilt or innocence, I'm in no position to know what they might or might not have done.
Neither are you.
But when people start throwing numbers around, and when they're big numbers, like $18 million, people do have a tendency to draw some unfair conclusions. It's part of this base-line, "If he's loaded, he must be crooked" mentality that too many people have.
$18 millions is just a little over 0.257% of Pequot's capital under management.
Their gain on their G.E.-Heller play is comparable to a guy with a $100,000 portfolio making $257 on one of his positions.
Again, I'm not saying that Pequot is either innocent or guilty of insider trading.
I'm just pointing out that this entire story was sensationalized by a reckless former SEC employee who was dazzled with the large amount of money involved and had a grudge against his former employer.
Gary,
I can't argue with the above conclusions. Let's hope the SLC office has some cajones...
Also, to your point, it is no accident that Overstink has both Brent Baker and Mark Griffin on the payroll.
Speaking of which, did you catch that little faux pax on the conference call. (paraphrased below, i.e., not an exact quote Judd)
Wacky Pat: "We only spend a few hundred thousand a quarter on legal..."
Lapdog Lindsey: "Actually, Patrick, it's a few hundred thousand a month..."
Annon
Any connection? ...
http://www.rottentomatoes.com/m/...e_wrath_of_god/
Commenting by HaloScan
