This shows once again how corrupt the Obama administration is.
From the L.A. Times: An alleged stock tip has gone from a home run to a strikeout for Hall of Fame baseball player Eddie Murray.
The onetime Dodgers first baseman agreed Friday to pay $358,151 to
settle an investigation into whether he broke insider-trading laws when
he bought shares of a Santa Ana company, allegedly on a tip from former
major leaguer Doug DeCinces.
The Securities and Exchange Commission accused the longtime Baltimore Orioles
superstar of making $235,314 in illegal profit on advance knowledge of
the 2009 buyout of Advanced Medical Optics Inc. by Illinois-based Abbott Laboratories Inc.
Shares of Advanced Medical Optics, a medical eye-products company, shot up 143% after the acquisition was announced.
Murray, who is 25th on the all-time home run list, with 504 dingers,
used all the available money in his brokerage account to buy 17,000
shares of Advanced Medical Optics after being tipped by DeCinces,
according to the SEC. Murray sold all his shares after the deal was
announced, the SEC said.
http://www.latimes.com/business/la-fi-sec-murray-20120818,0,2116580.story
Former Democrat Senator Jon Corzine loses billions of dollars from his company and nothing happens, the Obama administration cannot find anything Goldman Sachs, Bank of America or Lehman Brothers but the SEC goes after Eddie Muphy who made a modest profit after supposed insider trading.
Obama administration: Wall Street's best friend.
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