Murali,
Thanks for bringing this up on your link.. People on a financial thread shouldn't have to be reminded about the seriousness of "insider trading".. but the Bush zealots overlook this behavior.. Like all his other character flaws..
<<<< On October 2, the Center for Public Integrity in Washington and Bill Muntaglio and Nancy Beiles in Talk magazine revealed that Bush not once but repeatedly missed the legal deadlines for reporting his insider stock trades when he was a director and member of the audit committee of a ropey Texas oil company, Harken Energy. In 1991, three years before he ran for governor, the Wall Street Journal headlined one instance when Bush sold near the top of the market before the stock plunged, pocketing nearly $850,000. He was eight months late in reporting this coup. He claimed he had but that the SEC had "lost the paperwork". But neither the Journal, or anyone else, has asked Bush if the SEC "lost the paperwork" when he was derelict on three other newly-documented insider trades he did not report in the way required by the anti-corruption laws.
The 1991 SEC investigation, criticised for being run by friends of then President Bush, ended inconclusively. Bush, it was said, could not have known of the magnitude of Harken's impending loss when he sold out. But the SEC never interviewed Bush and documents obtained last month under the Freedom of Information Act clearly show that Bush had more knowledge than he admitted. At least twice during the month he cashed out, he received memos showing the company was in financial peril. >>>
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