Our country has no ethical sense to keep billionaires from buying stock, then issueing a statement that favors their position, and exit with millions more than they came in with. If our country spends so much on ethics training, fires people who violate a rule of ethics then how does our government or SEC allow for these things to happen? It seems like in government and financial - where people control money (not most CEOs) they make rules for others and not for them to follow. This gives them a unique advanage to make wealth for them and others have to struggle.
so true. if he bought at 43-44 and then rig rises to mid 50's and now upper 50's and he's dumping, then the SEC should put that old guy in jail for 25 years. When you work for firms, they teach you ethics and sex violatons etc... and these rich get away with murder. There are two sets of rules (rich vs little guy). I don't own RIG and wish I did at 46 but ethics is one thing. If he wants $4 dividend, go buy a stock that pays $4 dividend and to get lost dopey.
Wall Street is how capital gets allocated in our capitalist system. So I guess you would rather live in a socialist or communist system. Billionaires in the US got that way from making good investment decisions. They make millions because of the scale of their available capital. "Others have to struggle" because that's how they learn. Some percentage will always be in poverty, but they too have the opportunity to improve themselves. Look at Colin Powell, for instance. Read his bio. But it takes focus and dedication over a lifetime to improve one's station in life. Unless you prefer "magical thinking", and plan on winning the lottery. Or prefer a tax and spend far left socialist government. Do you really want government bureaucrats making most of our decisions about what to invest in? That's a recipe for stifling innovation, and we will fall behind the Chinese, and your kids will dance to someone else's tune. Oh wait, that's what you want anyway.
No one is talking about a socialist economy. Yes, billionaires (most anyway) got there from hard work. That does not mean once they have achieved that status they can make all of the rules to fit your self-interests. Incidently, you would not want to live in a pure capitalist state either..............that's called a "banana republic" where just a few rich families hold dominion over the vast numbers of poor/working poor with no political power or social safety net.
Powerful, wealthy special interest groups, business, etc lobby very heavily, donate--pay off legally-- our illustrious politicians ( democrats and republicans). Top to bottom but especially key committees, leaders, etc.
Loop holes are created, legal and accounting opportunity for a select few, politicians campaign chests get bigger for re election/retirement, select groups thrive and prosper, unknowing and impotent public is manipulated, fleeced, frustrated and left hoping for change.
Cycle repeats, different people, different political parties, same old game.