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The SEC doesn’t give formal guidance as to what is insider trading and what isn’t, but the fact is they said expert networks are not inherently improper and OCIE director Carlo di Florio and others have given guidance on policies and procedure to use them properly. There’s no specific insider trading statute and there’s not likely to be any time soon, because they’re trying to get at a wide range of conduct.
–Marc Elovitz, partner at Schulte Roth & Zabel: via Reuters
Bond and bill redemptions and interest payments in 2012 for the Group of Seven countries, Brazil, China, India and Russia, in dollars, using data calculated by Bloomberg as of Dec. 29:
Country 2012 Bond, Bill Redemptions ($) Coupon Payments Japan 3,000 billion 117 billion U.S. 2,783 billion 212 billion Italy 428 billion 72 billion France 367 billion 54 billion Germany 285 billion 45 billion Canada 221 billion 14 billion Brazil 169 billion 31 billion U.K. 165 billion 67 billion China 121 billion 41 billion India 57 billion 39 billion Russia 13 billion 9 billion
while most state-funded schools and colleges are barely functional, private education in India is largely a money-making racket
–Pankaj Mishra: via Bloomberg
the unit of intelligibility is the story
–Stuart Brown, National Institute For Play: via TED
Constellation Energy dropped 10% in the span of seconds as bids disappeared following this headline on December 21st at 11:58 AM
US sues to block Excelon acquisition of Constellation Energy
Trading is halted in CEG five minutes later and reopened at 12:08. CEG rockets up 10%, and at 12:10 a headline crosses saying,
US settles with Excelon
Themis Trading, a stalwart critic of HFT, attributes the activity to the shady business of machine readable news.
There can be no effective control of corporations while their political activity remains….Corporate expenditures for political purposes, and especially such expenditures by public-service corporations, have supplied one of the principal sources of corruption in our political affairs.
–Teddy Roosevelt, The New Nationalism speech, 1910 – Osawatomie Kansas
