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Zitat MrchntDeth:
To S&G re: INSIDER TRADING:
To S&G re: INSIDER TRADING:
This is an Open Letter to the Equity Committee (or to anyone having access to them).
Aurelius and the other SNH have made a big deal out of how they have sliced and diced their Insider Trading (or rather, the lack of it), during two (2) key time periods, and that thereafter, the duty was on the Debtors and the Estate to do a Full Disclosure to the rest of the world. Fair Enough. So Far.
BUT, the four (4) Hedge Funds know full well that the Debtors did not disclose to the rest of the world that there were four (4) HF's that were running the show, negotiating on their own behalf (and on behalf of the Debtor), with JPM (to the detriment of all other publicly traded security holders); that they were responsible for drafting proposed Global Settlements, etc.
I sure would've loved to have had the same deal (or at least be told by the Debtor that there are thieves out there running this show, and that they may continue buying/shorting certain securities, and that THEY will be the ones that decide where the waterfall stops).
The Estate may have thrown in some information regarding tax benefits, etc., but they NEVER disclosed the KEY PARTS (i.e., you have a group of INSIDER HEDGE FUNDS that are slicing the pie up all for themselves, that they are doing the wheeling and dealing, etc.), and this information was NEVER disclosed by the Debtor.
These Hedge Funds are most certainly guilty of Insider Trading, in that they knew (by creating these self-serving 60 day time periods), that they were the ones determining where the waterfall begins and ends, that they had direct communications with JPM, and that they would be instrumental in drafting the terms of the Global Settlement.
Can someone please explain to me how this is NOT INSIDER TRADING (especially in light of the fact that MW was LOCKED into commons early on in this game, and they made a big deal out of how anybody on the EC could NOT trade in/out of any WAMU securities)?
What's good for the goose doesn't seem to be so hot for the gander.
I defy anybody to show me where the Debtors released the above-referenced information as part of a Regulation FD disclosure (i.e., that you had certain funds negotiating directly with JPM, and that these funds would set the waterfall, that they would be at liberty to rape whatever classes of securities that they saw fit to rape, that they could trade into securities on the cheap, securities that they knew would be WITHIN the waterfall, because of the market misperception that talks were off, even though the HF's would remain behind the scenes, free to trade, knowing where THEY would set the waterfall).
Did I miss that particular release by the Debtor? It might be buried in somewhere in some document, but I haven't been able to find it.
Please forward to Susman or anyone on the EC if you have some contacts with them. Thank you.
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Zitatende
MfG.L:)
Alles nur meine pers. Meinung, kein Kauf- oder Verkaufs-Empfehlung!
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