Timmy elsewhereMarch 3, 2014 Tim WorstallRagging on Ritchie3 CommentsAt the ASI. It’s quite wonderful the way that the SEC forces its own staff to insider trade. previousOn Ritchie’s TwitterstormnextBest line of the day 3 thoughts on “Timmy elsewhere” So Much for Subtlety March 3, 2014 at 2:36 pm I would have thought many jobs require people to do things that would be illegal outside the condition of their employment. I mean just try to take a sharp knife to someone’s stomach in order to re-arrange their internal organs. You can say it is for their own good all you like, the police won’t listen. And don’t get me started on what they say if they catch you with some morphine. (And while asking pretty young girls to lie down on my couch and tell me about their deepest sexual fantasies is not strictly speaking illegal, it is amazing the dim view The Plod takes of trying it on. [email protected]) Fred Z March 3, 2014 at 4:03 pm Why are SEC employees allowed to own stocks at all? There are other available investment vehicles from land to mutual funds to blind managed trusts. The SEC knows this so the inevitable conclusion is that they are corrupt. There are other studies that should be done. Do investigations of companies correlate with the value of shares in those companies owned by SEC staff? Do particular staff members have a large presence in both shares and investigations? When were the shares purchased – because if it’s shortly after a complaint comes in, but before an “investigation” actually starts, then all hell better break loose. So Much for Subtlety March 4, 2014 at 12:34 am More relevant to what TW asked, the Feds have put some milk farmers on trial in the US. They sold their milk in farmers’ markets and because of the Fed’s regulations, they regularly took their profits over the road to the bank when it approached $10,000. Over that amount and the bank would have to report them as suspected drug dealers. So the Feds arrested them for “Structuring” – that is, seeking to avoid reporting themselves as drug dealers by regularly depositing less than $10,000. No one is suggesting they are drug dealers. But apparently it is a crime now to avoid the Fed’s reporting rules. The Feds agreed to let them off without prison time as long as they got to keep half their money. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.