We’re all hoping/confident that all of our country’s job problems will be solved tonight, because it is not easy to be unemployed. There’s the loss of income, the decay of skills, the effects on self-esteem, and the fact that it’s harder to get a job once you’re already out of work. But for some people there’s another, even more insidious danger: you could lose the ability to supplement your income with a little insider trading on the side.
At least that was true at Primary Global, according to former employee Bob Nguyen, testifying at the insider trading trial of his ex-colleague James Fleishman:
“The financial crisis happened and we’re getting all these potential experts who aren’t working,” Nguyen said. “The message was we should be recruiting people who are at publicly trading companies,” he said. “The reason was, they said, they were ‘more insightful.’”
Unemployed would-be insider-trading tipsters might want to lobby their congressman to pass a proposed law prohibiting discrimination against the unemployed.
Primary Global Recruited From Publicly Traded Companies, Ex-Analyst Says [Bloomberg]
confused. first comment. nothing to go with. um… it moved?? Bess for the win?? Lights off, butter on freshly shorn sack, chopmatic infomercial buzzing on rear projection tv???
In a change from posting stories full of charts and graphs, to not posting a chart of any kind, Matt Levine realized this was not the first time he was batting for the other team.
Just want to point out the "pmcosis" sounds like a nasty disease that Dr Rosenrose would treat.
If you would like to be my favorite sister, make your handle "Cathy"