FBI and SEC Probe into Insider Trading Investigation of Carl Icahn, Billy Walters & PGA’s Phil Mickelson
Investor, Bettor, and Golfer Investigated for Insider Trading, Oh My!!!
The NY Times is reporting that federal authorities are investigating a series of well-timed trades made by PGA golfer Phil Mickelson and the gambler William T. Walters, focusing on trading in two different stocks from 2011 and 2012. The Feds are looking into whether Mickelson and Walters may have traded illegally on private information provided by billionaire investor Carl Icahn about his investments in public corporations. The stock trades in question are with Clorox in 2011 and Dean Foods in 2012. As reported at the Business Insider Mickelson stated, “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so.”
Federal authorities are examining a series of well-timed trades made by the golfer Phil Mickelson and the gambler William T. Walters, people briefed on the investigation said, focusing on trading in two different stocks. The authorities are also questioning what role, if any, the investor Carl C. Icahn may have had in sharing information about one of the stocks: the consumer products company Clorox.
Mr. Mickelson, a three-time winner of the Masters golf tournament and one of the country’s highest-earning athletes, placed his Clorox trade in 2011, the people briefed on the investigation said. Mr. Walters, an owner of golf courses who is often considered the most successful sports bettor in the country, made a similar trade about that time, the people added.
Mr. Icahn, a 78-year-old billionaire and one of the best-known investors in the world, was mounting a takeover bid for Clorox around the time that Mr. Mickelson and Mr. Walters placed their trades.
The F.B.I. and Securities and Exchange Commission, which are leading the inquiry along with federal prosecutors in Manhattan, are examining whether Mr. Icahn leaked details of his Clorox bid to Mr. Walters, the people briefed on the investigation said. One theory, the people said, is that Mr. Walters might have passed that information to Mr. Mickelson.
How’s that “Hopey-Changey” stuff working out for ya America?
Obamanomics has been an unmitigated disaster. The economy is a disaster and any reports that it is getting better is hogwash. A record number of Americans are on food stamps, the actual unemployment rate is much higher than the presently reported 7.6%.And then we have the real indicator that tells us how Americans are really doing. According to a CNN poll via Town Hall, 76% of Americans are living paycheck-to-paycheck. For all the promises that Obama has made that he would make the economy better and in turn the lives of Americans. The joke is on you America. Obama may be an empty suit, but he has left 76% of Americans with empty pockets.
Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.
Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.
To make matters worse, in the past three days, Americans has lost countless money in their 401k’s with the DOW tanking after Fed chairman Ben Bernanke’s comments last week that they are going to taper back the flow of money and artificially supporting the markets. Bernanke said the economy is getting better. REALLY? 76% of Americans would disagree with you sir.
HOW IN THE HELL WAS BARACK OBAMA, THIS EPIC FAILURE REELECTED!!!
If you can no longer blame George W. Bush … blame Sandy. WHAT A JOKE, AMERICA, ARE YOU LAUGHING BECAUSE OBAMA IS.
The first weekly first time filing for unemployment report has been issued following the 2012 Presidential election and surprise, surprise, surprise … weekly jobless claims are up 78,000 to 439,000. Of course this is all due to Hurricane Sandy and nothing to do with Barack Obama winning reelection. A president whose only remedy to fix the economy is taxing the rich. P.T Barnum was correct, there is a sucker born every minute and unfortunately they voted in the 2012 Presidential election. 375,000 claims was expected and that was with experts considering Hurricane Sandy. So where did all these unexpected unemployment claims come from? Of course the fact that this is the first report since the Presidential election has nothing to do with such an increase in claims. Because the Obama administration would never hold back information from the American people, ah BENGHAZI.
Obama is laughing at you America … they bought it, BAH, HA, HA, HA
The Labor Department said applications increased by 78,000 because a large number of applications were filed in states damaged by the storm. People can claim unemployment benefits if their workplaces close and they don’t get paid.
The storm may distort claims for another two weeks, the department has said.
The four-week average of applications, a less volatile number, increased to 383,750.
Before the storm, applications fluctuated between 360,000 and 390,000 this year. At the same time, employers added an average of nearly 157,000 jobs a month. That’s barely enough to lower the unemployment rate, which was 7.9 percent in October.
Meanwhile, rising food costs and higher rents offset a drop in gas prices last month, leaving consumer prices only slightly higher in October compared with the previous month.
Was Hurricane Sandy part of the reason why there was a huge increase in jobless claims, yes. Was it all of the reason, not on your life. All of the experts were way off and that was considering the effects of Sandy. It is just a coincidence that this spike occurred after the election. Maybe the Obama defenders would like to explain how Sandy is then also responsible for the Stock market losing over 700 points since his reelection and 4%. Hmm? I guess you can fool most of the people all of the time.
Betting on the future of saving America …
Is Wall Street betting on a Mitt Romney victory in November as for the reason for the recent three day market rally? An analyst concludes that the rally was due to the markets placing their bets on a Romney victory. One can only hope for this change in the 2012 Presidential election as nothing Obama has done could cause any positive movement in the markets. The consistent poor jobs numbers, lack of GDP growth and continual lack of stability in the economic environment as to taxes, all lead to Wall Street wanting nothing to do with another Obama 4 years.
With just 100 days left until the U.S. presidential election, investors are beginning to make bigger bets on which candidate will carry the day.
One analysis concludes that last week’s sharp three-day market surge can only mean that Wall Street is banking on a victory from Republican Mitt Romney.
That’s the logical interpretation one can draw from a rally amid conditions that otherwise would demand a sell-off, Morgan Stanley chief U.S. equity strategist Adam S. Parker said in an analysis that asserts there is no other reason now to like stocks than a Romney win.
It is hard to imagine that an incumbent president with such a poor economic record could be reelected. As reported at The Other McCain, the polls are trending toward Mitt Romney as much as the Obama cheerleading MSM wants to deny. At some point Americans are going to take a serious look at their choices and their current predicament and future prospects. When that occurs, the bottom will fall out of Obama’s polling numbers. Look for another two months of poor economic data and Obama only talking about taxing the rich for this to come to fruition.
Thank You Barack & Obamanomics … Credit Rating Agency Egan Jones Downgraded the United States Because of Unsustainabible Debt
How bad for America is Obamanomics? Another credit agency has downgraded the United States economy over debt concerns. Obama and Democrats answer is to just keep on spending and increasing the debt. Credit rating agency Egan Jones downgraded the United States … Thanks Obama, why on Earth would any credit agency have concerns with a $15.6 trillion debt and growing.
Credit rating agency Egan Jones downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered our credit level from AA+ to AA. The firm reduced America from AAA to AA+ in July 2011, just before Standard & Poor’s did the same.
Egan Jones warned. “Without some structural changes soon, restoring credit quality will become increasingly difficult . . . without some structural changes soon, restoring credit quality will become increasingly difficult.”
The Gatway Pundit reminds us of when Obama complained about what GWB did in 8 years with regards to the national debt? Barack Obama called it irresponsible and unpatriotic. Obama stated that W increased the debt from $5 trillion to $9 trillion. Meanwhile in less than 4 years Obama has increased the debt to 15.6 trillion. If GWB was unpatriotic, then Obama’s handling of the debt is an act of treason.