This should be investigated, and if people are found to be guilty, they should go to jail for many, many years. Why should people invest their hard-earned money in the stock market when they see their earnings swindled away from them by these shysters? Wall Street seems to be hell-bent on destroying what few traces of trust that are left in our financial system.

Reply

The guy who wrote the article should do a little homework! Puts give you the right to SELL a stock. CALLs give you the right to buy a stock. And, with the leverage that options offer the gain would have been closer to 300%. I can't believe this guy gets paid to write articles.

Reply

Why does all this perfect speculation apparently still surprise someone? Speaking of which, have you noticied the "cash for gold" inundation of commercials has stopped?
Supposedly now over $2,200 a ounce. So which insider's knew that gold would go to this price so fast? How many people out there got a whole lot less for their gold jewelry. What a shame since most people who parted with their gold did so because they were financially hurting. Shame on people with no conscience!

Reply

Secret Software & Naked Short Selling
We need NSS arrests - not Insider Trading arrests
It is November 5th, 2009 at high noon and the SEC is all over the news about another arrest. They are all on stage giving this big press conference on 14 arrests for Insider Trading connected to the Galleon Group investigation. Is it Insider Trading? The Government wanted the world to believe this caused the financial meltdown on Wall Street. Three weeks earlier the SEC made the first arrest for Insider Trading involving Raj Rajaratnam and 5 other people on Wall Street.
It is my opinion that the Government and the SEC is involved in a cover up to try and make people think that it was insider trading that caused the crisis of 2008. Let the truth be known. The news media, along with Goldman Sachs and many other Wall Street companies and people of power are all involved in the biggest cover up in the history of the United States. It involves greed to the fullest extend. The SEC is responsible, under the leadership of Christopher Cox in July 2007, the Securities Exchange Commission abolished the Up Tick rule. The elimination of the Up Tick rule created a wave of corruption that grew out of control, based on Naked Short Selling and the use of secret software and super fast computers.
Insider trading has played a role in the financial crisis, yet the story not being told by the news media is the arrest of a Goldman Sachs employee who tried to steal Goldman Sachs secret software. This arrest came over the July 4th Holiday week-end and was aired briefly on a Saturday night on TV and then came Monday July 6th, 2009 and the story disapeared. A few weeks later Goldman Sachs reported its FY 2009 2nd QT earnings ( April – May -June ) and Goldman Sachs made over $100 million dollars a day in 46 of the 64 trading days for that quarter. How could this be possible after a 17 month recession. Wall Street changed two major Laws. The first being the use of decimal places (2001 )instead of fraction. Years later and after they lobbied for the removal of the Up Tick rule ( 2007 ) the secret software was designed and in place ready to go into full operation now that Wall Street was allowed to naked short sell millions upon millions of shares that Goldman Sachs and other hedge funds didn’t even own and failed to deliver. Their greed took over, who wouldn’t , when Goldman Sachs was making over $100 million a day in trading. They destroyed companies like Sirius XM radio and overstock.com and many others. Then they began naked shorting the banking industry and attacking each other.
This is the truth that the news media, corporate Amercia, the SEC, the Government, Goldman Sachs, Hank Paulson and the many others that were in power have not told the American people and the world. Now, as I write this letter, they are now trying to con the world into thinking it was insider trading that caused 95% of the middle class workers to lose 20% - 60 % of their investments and 401K’s.
In the end the Entire story will be told and I hope I get my chance to tell it. Check the facts. There was an arrest of that Goldman Sachs employee in July 2009. Why was it covered up? Where are the arrests for Naked Short Selling and Goldman Sachs use of their secret software that stole the wealth off investors all across the country. It will go down as the biggest scandal in history.
I give you permission to re-print this letter. Please follow up and investigate. This story needs to be told. Please contact me. It is exactly what is taken place.

Richard Keane

Reply

This WHOLE wall street system stinks, I watched today as trades went off on a stock I own in increments of pennies!!! No big deal right??? WRONG..... I some sellers have the ability with their software to sell shares in increments of less than a penny, that means they can go to the front of the line whenever they want to sell shares.....example would be you're trying to sell your shares at $23.50.......they can jump ahead of you for 1/10 of one cent....selling at $23.499, the software only sees it as a lower price so it goes ahead of the $23.50..........I seen buys the same way......1/10 OF ONE CENT higher then the bid, who gets filled first?? the person that has the software with the ability to jump in front of your bid by 1/10 of a cent...........this is all a scam at it's starting to stink like a ocean full of dead fish.

Reply

This story is pretty comical that Jon Najarian is talking about a scandal when Jon Najarian and his brother Pete Najarian are always on the CNBC show called Fast Money promoting Goldman Sachs.

It has become known on the internet blogging sites that both Jon and Pete Najarian are Goldman Sachs bouncers.

I think they get paid 10K for every mention of Goldman Sachs on the show and they usually say it 5 times a show at minimum. It is truly comical.

Richard Keane

Reply

Rick Aristottle Munariz of the Motley Fools is paid to mislead investors about Sirius XM Radio. He is part of a news media collusion lead by CNBC and their own Jim Cramer. Jim Cramer's street.com web site is also hip deep into the collusion. Jim Cramer and his writers, especially Scott Moritz are all part of the scandal and it leads upward to CNBC/GE executives and Goldman Sachs. Thank god their is now an investigation taking place with Goldman Sachs. Goldman Sachs was investigated and 10 firms, including Goldman Sachs were fined $1.4 Billion dollars in 2003. Now the full blown investigation by Boston's Chief Financial Regulator William Galvin will reveal the corruption of Goldman Sachs again and I can only hope that William Galvin will follow the money trail and check the bank accounts of Rick Aristottle Munariz of the Motley Fools along with Scott Moritz of the Street.com Just check these 2 writers banking accounts and the investigation will reveal that they are being paid off to write mis-leading stories about Sirius XM Radio. The money trail from these 2 writers will lead to >>> Motley Fools >>> Street.com >>> Jim Cramer >>> CNBC >>> GE / CNBC executives >>> NAB >>> Goldman Sachs.
It has all been a news media collusion along with the combination of Wall Street corruption by Goldman Sachs to destroy Sirius XM Radio inc. by naked short selling, flash trading, superfast computers, using secret software to manipulate the Sirius XM Stock price in decimal places the past few years since the Siri /XM merger was announce in Jan 2007. It was a pact agreed to by the news media and Goldman Sachs, which is why CNBC keeps reporting positive story after positive story about Goldman Sachs. All are into this collusion knee deep and this is why they will not report Goldman Sachs and their biggest scandal in the history of Wall Street.
Goldman Sachs got greedy. The scandal with Sirius XM Radio, worked so well with their secret software that was making them millions of dollars a day. Well, their Greed expanded into not just naked shorting & decimal place trading Sirius XM radio, but Goldman Sachs, next said , heck this secret software works so well, along with CNBC's cover up lets do it to our competition the banking industry. Goldman Sachs next used these tactics on the banking industry in 2008 - 2009. They have been protected by CNBC by paying CNBC millions of dollars a month in advertising or shall we say paid protection.
Goldman Sachs greed almost ruined this country when they began using naked shorting and their secret software to attack the banks. It was their Greed of making millions using this software attacking Sirius XM Radio and when they expanded their scandal to the banking industry, they were now making over $100 million dollars a day. This is a fact, as Goldman Sachs made over $100 million dollars a day in 46 of 64 trading days last Quarter 2009 ( April , May, June 2009 ).
CNBC is part of the scandal, taking in million a months from Goldman Sachs for their silence. Why wouldn't Goldman Sachs pay CNBC millions of month, that was nothing to them, since they are making over $100 million dollars a day. They helped CNBC try to ruin the competition ( Siri ) and now CNBC will help them ruin the other Banks. A true partnership by Goldman Sachs & CNBC.
The scandal lives on today, but thankfully the investigation by William Galvin will be expanded into the news media collusion of CNBC, Motley Fools & Street.com along with many other news media types.
Their Greed and goals have cost the average investors of the World hundreds of billions of dollars the past few years. In the end the truth is going to come out, but how does the people of the World hear the truth when the news media is part of the Scandal.
Well, a few years ago, CNBC & Goldman Sachs would have gotten away with it, but thank you www.Satwaves.com , www.twitter.com/stockshockmovie and the many social media outlets and bloggers out there. Thank you for helping bring the truth to the World. Each day we get closer and closer to the biggest scandal in the history of the United States. ( Written by Richard Keane – August 30th, 2009 )

Reply

LOL, as soon as they made the announcement of the deal on "fast money",, my first thought was how the stock moved for the day. Before I could find the symbol for it & type it in Najarian said there was unusual call activity on the stock. People seem so shocked by this revelation. All retail traders get the shaft & the majority of money earned in this market is by insiders trading on daily "pass it down the line" information that the fast money boys know about first. I sold the market short a week ago in anticipation of bad employment numbers & the light volume market manipulators are slamming me good. You can be right in this market 90% of the time & lose money by the same rate in this insanity.

Reply

This is the "real" way the rich get richer. They cheat, steal and sell out their mother in their greedy quest for more and more weath.

Reply

This stuff is so routine and the SEC is so limpdicked the traders could care less that it's illegal. This happens every day. Stock price manipulation is an art form now and the SEC looks the other way. Nice profit from your insider trading activity guys!!!

Reply

Remember: Behind every sucessful man is a crime or three.

Reply

Have always been skeptical and hugely wary of Fed holidays that the markets don't officially recognize. THIS IS WHY. Columbus and President's Day create the same corrupt problems. Too bad we're stuck with ole Timmy boy and Summers the brown nosed bag boy- I guarantee- they're 90% of the problem. The SEC- well, most of us gave up on them doing THEIR jobs- long ago. THE most dickless, overpaid, illiterate of all FED employees. Pulled most of my cash out of mkts a while ago. Won't venture BACK in until this nefarious insider crap and speculative BS is addressed- for what it is - quite illegal and proven to ruin honest investors.

Reply

I have an HP printer. No wonder I've had so much trouble with it.

Reply

Yep- sure makes sense to me. Goldmine Sex trading and making billions in one day on a hot undertable stock tip while the rest of us celebrate "Veterans" Day, saluting the dead. How obtusely patriotic, eh?

Reply

Only problem is no one will do any thing about this. They are all in bed together. I will believe it when I see it. Eight years no one did a thing and the hill and wall street knew the ropes. Right. They do it because they can.

Reply

just like when the world trade centers were "pulled", massive options bought for the airlines involved. when is america going to wake up and DEMAND that our legislators awaken from their visions of grandeur and power and get to work to clean up the gross violations of the laws? when will we DEMAND that the laws be adherred to by all, not just the working class? when will we no longer pay bonuses to those who are flagrantly destroying our financial system for personal gain? (we pay bonuses to those who caused this mess? WHY???)
it's becoming so blatant and we just sit back and wonder how it can happen. WTF???

Reply

OMG ..SPITZER at ethics conference at Harvard ! He is a FELON and SEX OFFENDER who, for some, still has not registered as a SEX OFFENDER. How did the MADOFF CRIME FAMILY slip under this OAF'S watch in NYS anyway ? PAID OFF perhaps like other insiders, we will never know for sure.

Reply

OMG ..SPITZER at ethics conference at Harvard ! He is a FELON and SEX OFFENDER who, for some, still has not registered as a SEX OFFENDER. How did the MADOFF CRIME FAMILY slip under this OAF'S watch in NYS anyway ? PAID OFF perhaps like other insiders, we will never know for sure.

Reply

Thank you David Rockefeller for the mess you've made of the world. The De' Rothschild/Rockefeller regime will soon be over. WE watch you EVERY day and night.

Reply