Tag: SEC

SEC Investigating Possible Insider Trading in Heinz Buyout

~ Pharmer

SEC Investigating Possible Insider Trading in Heinz Buyout.

Someone grew $90,000 dollars into 1.7 million in a Heinz stock options deal just before the Berkshire Hathaway buyout of the company and the rapid increase in stock value.  This  suspicious deal, involving owners of a Swiss bank account and transacted through Goldman Sachs Bank in Zurich, was deemed suspicious enough by the SEC that they immediately froze the account.

The SEC thought the timing of the call options, and the fact that the account had not traded in Heinz stock within the last six months was just too lucky to be legal.

Looks like insider trading………… who owns that account?   “Enquiring minds want to know”.

It is noted that the new Secretary of State, John Kerry,  and his wife,Teresa Heinz, have also gotten a financial windfall out of the Berkshire Hathaway buyout.

SEC Says New Financial Regulations Allow It to Hide Its Failures

~ Pharmer

FOXBusiness.com – SEC Says New Financial Regulation Law Exempts it From Public Disclosure.

The public will not be able to obtain SEC records using the Freedom of Information Act.   The SEC remains accountable only to government.

Fox Business News Network learned this when the SEC claimed this week that Section 9291 of SEC Financial Regulatory Law H.R. 4173 allowed it to refuse FOIA requests for info..

So much for Obama’s promise of increased transparency in government.

Fox Business Network intends to challenge this interpretation of the law.