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07/31/2010 02:52 PM ID: 84905 Permalink   

Billionaire Brothers Charged Over $550 Million in Insider Trading.
 

New York: The Securities and Exchange Commission has filed a complaint against billionaires Charles and Sam Wyly. The complain alleges that they were involved in insider trading and profited to the tune of $550 million.

The pair allegedly ran subsidiary companies and trusts out of the Cayman Islands and the Isle of Man to trade the shares of companies they were directors for. A lawyer for the men said the charges are "without merit".

The brothers have been significant donors to conservative political causes. Over 200 Republican candidates have received donations totalling $2.5 million from them and they were significant contributors to the Swift Boat campaign in 2004.

 		 
  Source: www.news.com.au  
    WebReporter: ixuzus Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  9 Comments
  
  Color me shocked.  
 
This has just collapsed my whole world view. To think that billionaire conservative republicans would display greed and contempt for the laws is just unbelievable. But at least they sheared their ill gotten goods with their like-minded friends.
 		 
  by: VermiciousG     07/31/2010 08:37 PM     
  opps  
 
shared
 		 
  by: VermiciousG     07/31/2010 08:38 PM     
  You were right Verm  
 
They cut off their ill gotten goods with their like minded friends

because

they

were

B´aaaaad.
 		 
  by: vhan     07/31/2010 10:41 PM     
  n/t  
 
This is just typical Republican capitalism at its best (worst). No morals. No ethics. No regard for United States sovereignty. Tax evading scum. They get rich off the backs of the rest of us. Filthy slime. May they all burn in hell.
 		 
  by: Lurker     07/31/2010 11:01 PM     
  Ooooh  
 
But but but... they had no choice but to lye, cheat & steal b/c they´re victims! Too many rules, too much regulation and taxes were just too darn high.

Maybe the solution to the "big gov conspiracy" is to just try not being republican crooks and maybe the gov wouldn´t have to do so much refereeing.



 		 
  by: ukcn001XYZ   08/01/2010 10:44 AM     
  Partisanship  
 
is lame. They didn´t do this *because* they´re republicans. I mean, duh. Humans? yes. Greedy? yes. a-holes? yes. But you all can´t think that dems aren´t just as capable of this. People can be a-holes. I hate a-holes, whatever niche they occupy. So there =P
 		 
  by: tuogh     08/01/2010 07:54 PM     
  Certainly  
 
Not all republicans are crooks. Both libs & rebs both have share of crooks.

But specifically when it comes to deregulation and finance the crooks tend to be republican. Hence, they don´t want rules chasing them. Just... trust us with the $$$ *wink*.
 		 
  by: ukcn001XYZ   08/01/2010 11:36 PM     
  I do  
 
I do however like many parts of the conservative platform (prior to 9/11).

Deregulation could be possible if we actually treated banking crooks like all other crooks, serving hard time instead of fining them 10% of their quarterly million dollar bonus.
 		 
  by: ukcn001XYZ   08/01/2010 11:40 PM     
  When I saw the headline...  
 
my first thought was, "Were their last names Duke?"

Something for the ´80´s crowd.
 		 
  by: B4LE   08/06/2010 08:48 AM     
 
 
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