Re: Democraps trying to blame the Republicans for the now discovered CEO crokedness is pretty/major lame
You can tag Clinton with philandering, but when it comes to corporate malfeasance, I'm afraid the title goes to Bush.
The Securities and Exchange Commission defines insider trading as "Corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments". On June 22, 1990, George sold $848,560 worth of Harken Energy stock, just one week before the company posted spectacular losses and the stock plunged sharply. When the losses were reported to the public on August 20, 1990, the stock plummeted.
According to documents from a two year investigation by the SEC, Bush served on the board of directors of Harken Energy Corporation and his position on a special Harken committee gave him detailed knowledge of the company's deteriorating financial condition. The SEC received word of Bush's trade ten months after the fact.
The SEC states, "Because insider trading undermines investor confidence in the fairness and integrity of the securities markets, the Commission has treated the detection and prosecution of insider trading violations as one of its enforcement priorities". |
