Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter.When would a three-year investigation have started? Right around the market peak in autumn 2007. Now the results will come public after a market low has been made.
The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.
The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.
Personal Income increased 0.3% in February; Spending increased 0.8%
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From the BEA: Personal Income and Outlays for February:
*Personal income increased $66.5 billion (0.3 percent at a monthly rate) in
February*, according t...
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