Charles Gasparino on Insider Trading

Friday, July 12, 2013

Charles Gasparino talks about the government’s crackdown on insider-trading networks—an investigation that has led to more than 60 convictions. In Circle of Friends: The Massive Federal Crackdown on Insider Trading—and Why the Markets Always Work Against the Little Guy, he follows government investigators and prosecutors pursuing one of the most aggressive and broad-reaching series of insider-trading cases in the nation's history and has put big names on Wall Street behind bars.


Charles Gasparino

Comments [24]

sigh, fair enough, but in that case I wish they came more serious.

Jul. 19 2013 11:05 AM


I think you are wrong. Borowitz is a humorist and I liked his sardonic line of questioning.


Gasparino is as serious as they come with a job at Fox, former experience and CNBC, and a book.

It was not a joke...

Jul. 12 2013 02:34 PM
Tim from Nassau COunty

The guests about complaining are very interesting. For outline given about how to complain, will the gentleman please provide a hypothetical example employing his "sandwich complaining" concept. This will be a great help in my improving my ability to employ a more prudent complaining technique.

Jul. 12 2013 01:44 PM

Andy Borowitz = humorist. Here we are hyperventilating about a Fox guy saying that crime is fine.... it's a joke, folks.

(I'll admit, it took me a while.) TGIF

Jul. 12 2013 01:32 PM
gilach from nj

this guys an idiot. they should throw him in jail. while discussing Corzine, he says all Corzine really did was use customer money to trade with. that act alone is illegal. if you are a registered stock broker, you know it's illegal. and as for having no 'real' affect on the economy, talk to the famers that were deeply affected by Corzines positions in the commodity derivatives market. Corzine goes to work everyday and continues to trade. chuck 'em both in jail.

Jul. 12 2013 12:49 PM

@sk Brooklyn from brooklyn

It is not just insider trading as learned at the last minute of the program that stealing customer' money is not a crime if you can claim being stupid.

Obviously, some people are more equal than the rest of us.

Jul. 12 2013 12:45 PM
sk Brooklyn from brooklyn

Segment over, don't worry about insider trading anymore...

Jul. 12 2013 12:40 PM
Tony from Canarsie

"... and Why the Markets Always Work Against the Little Guy." Are you sure he works for Murdoch?

Jul. 12 2013 12:40 PM
David Bender

i find listening to this guy very disturbing.
his arguments for not prosecuting white-collar crime seem disingenuous.
we're talking about an act that rips off people for millions.
where is the ambiguity?

Jul. 12 2013 12:40 PM
Amy from Manhattan

But it's not about our ability, it's about our access to knowledge, & we don't have full control over that. So the comparison to playing basketball isn't valid. Also, there are people actively trying to keep us from knowing things about their stocks that make them bad investments. And sure, we can invest in index funds & not buy individual stocks, but the reason they call it the public market is that those stocks are supposed to be available to the public. We should *all* have access to the same info as the insiders, & we do lose out if we don't have it.

Jul. 12 2013 12:39 PM
jgarbuz from Queens

Peter is right. It's like card sharps suckering in amateurs to sit in and build up the pot and take their money. They might even let them win a few hands, just to sucker more money into the pot. But when it really gets bad is when actual cheating occurs, on top of it all. It's bad to be suckered, but worse to be cheated.

Jul. 12 2013 12:37 PM
sk Brooklyn from Brooklyn

It's so easy to claim there is no victim when victimhood is so immense. It would take An American Life episode to show how insider trading creates victims because it is complex and on a massive scale and still there would be deniers. Giving this FOX news "journalist" who publishes his book through FOX publishing a platform is fine, as long as you bring on a respected expert that can go through all his arguments and provide some reality to his propaganda.

Jul. 12 2013 12:35 PM
George K from Flushing

Does it make a bigger difference if the "professionals" who feel cheated make a fuss?

Jul. 12 2013 12:33 PM

if you can't do, teach.

if you can't teach, commentate.

If you can't commentate, opine about business on npr.

Jul. 12 2013 12:33 PM
George K from Flushing

Does it make a bigger difference if the "professionals" who feel cheated make a fuss?

Jul. 12 2013 12:33 PM
Peter from NYC

Don't think the basketball metaphor is quite right. How about sitting down at a blackjack table with three other players and they know what coming out of the deck and you don't. I think this is called cheating.

Jul. 12 2013 12:32 PM


A guy sells an once of coke for $1000 and goes to jail for 15 years.

A crooked trader makes millions of dollars on insider information and is sentenced to 10 years.

Is it fair?

BTW, portfolio managers has access better market tools, but they don't have access to insider information.

This Gasparino guy is full of you know what...

Jul. 12 2013 12:32 PM
David from Fredericksburg, VA

Gasparino was talking about being a basketball player, but he's not good enough. Insider trading is the equivalent of doping in sports.

Do you really thing the Romneys of this world need an even bigger advantage than they already have?!

Jul. 12 2013 12:31 PM

Gaspirino would love third world countries.

They don't have roads, let alone regulators to bust inside traders.

Jul. 12 2013 12:31 PM
Beatrice from Brooklyn

"Filling the jails with white collar criminals"? Seriously?

Jul. 12 2013 12:30 PM

Is this guy for real????????

Of course someone is losing money to people with inside information. BIG MONEY.

The US economy depends on people TRUSTING that the market is fair. At least among big guys. It is a fundamental to have this trust.

Jul. 12 2013 12:28 PM

Of course, if prosecutors didn't pursue cases of insider trading, it would build regimes of ever more egregious behavior that would cripple the markets in the long run. Your guest says that insider trading isn't what is keeping people away from investing, and he's right. But that is because it is kept to a level that society finds acceptable.

Jul. 12 2013 12:19 PM

"Should they really be diverting resources from other crimes in order to pursue insider trading?" Both guest and host should know that this is the classic argument by criminals who have already been convicted.

Politics aside (or not!) -- these guys are getting put in jail because they broke the law. The problem is not enough regulators, to the point that robbers have moved from stealing car radios to saddling up on suit and tie. Where did the money go? The guest can scowl no further than at his Fox News buddies, who administered Bush's War in Iraq.

Jul. 12 2013 12:19 PM
jgarbuz from Queens

"Insider trading" is like card counting or otherwise rigging the casino. We know that Wall Street is basically gambling, but somebody has to keep watch too keep it as clean as humanly possible.

Jul. 12 2013 12:13 PM

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