Everyone's doing it, "trading on Inside,Non-Public Information "! It's the latest and greatest international craze . And guess what? Us Americans don't have the patent on it . I know Boesky, Raj R, Gupta et al. Who said prostitution was the "world's oldest profession".
Latest company to be ensnared in an insider trading scandal is Japan's largest investment bank, Nomura Securities . Are you shocked ? I suspect you're not . Nomura admitted that it's employees leaked inside information regarding Inpex, Mizuho and Tokoyo Electric before it was made available to the public. Where I come from(Not Kansas you nitwit), that's called cheating ! And why ? Greed, power, impressing customers and" I'll only do it this one-time attitude". Customers greed and over the top trades did everyone in . No sympathy here . CEO Kenichi Watanabe just resigned.
Well, if convicted , I understand the defendants will face an unusual, but harsh penalty under Japan's Securities Laws. Yes, ten years in jail, sharing a bunk (bottom) with a 400 lb Sumo Wrestler convicted of eating a "day trader ".
Good luck. Sayonara!
International Securities Analyst Steve "Sushi "Goldman reporting.
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