Let me be clear! I am not saying any Congress Members are guilty or not guilty of Insider Trading. There is such a thing as coincidence and, unless proven otherwise, these examples are coincidences.
Someone with a great deal more skill and time and a team could examine the Congressional investment records to find more coincidences. I will provide a couple.
I found the names of companies whose shares were traded on insider information. The names of the companies are found in news articles as well as on the FBI and DOJ websites.
Here's a partial list of companies shares traded, just from the Raj Rajaratnam case:
Goldman Sachs
Clearwire
Akamai,
AMD (Advanced Micro Devices)
Intel
Polycom
PeopleSupport
IBM
McKinsey & Company
Moody’s Investor Services, Inc.
Market Street Partners
Akamai Technologies, Inc.
Others named on the Washington Post article named below:
Google
IBM
Hilton
Intel
3Com
Marvell Technology
You can use the search feature at OpenSecrets.org to research the trading records for these stocks by Congress members.
Just to get the ball rolling, I found a conviction of an Insider Trader Duo using Walt Disney Shares. If you click on this Walt Disney link, you will can view its stock history. Once the chart opens, click on 5yr on the bar next to the word ZOOM. You can then slide the "hand" to find the stock value in January, 2010. The date of where the hand is on the line is shown in the lower left hand corner of the chart. I would open the chart and view it along side the diary.
The Washington Post publised this article in February, 2011:
Federal investigators expose vast web of insider trading
On page 4 of this informative article you will find the Walt Disney stock information. Details below:
Before launching into the Walt Disney shares analysis, I found this fascinating. A look into how all this works in the field. There are paid informers within major corporations paid really good fees for spying and passing on information:
The Washington Post calls it a NEW TWIST.
HERE'S HOW ALL THIS WORKS, ACCORDING TO THE WASINGTON POST:
Years ago, top corporate executives would share information about upcoming earnings reports with favored Wall Street analysts, who could use the information to the advantage of their investment firms and clients, Coffee said. In 2000, the SEC banned companies from selectively divulging significant information by adopting a rule called Reg FD, for "Fair Disclosure."
That fueled the demand for alternative sources of information.
Here's the example WaPo provides. This is fascinating.
One such firm, Primary Global Research, billed itself as providing "independent investment research," but it routinely delivered such inside information as revenue numbers and sales forecasts, the SEC said in a recent complaint against PGR employees and consultants, among others. PGR itself has not been charged.
PGR consultants - employees of major corporations - were paid $150 to $1,000 per hour to communicate with clients of the firm. PGR gave them the option of using pseudonyms, the SEC said. In e-mails, PGR personnel talked about tips that would translate into "fast money" for clients, the SEC said.
Daniel L. DeVore, a global supply manager at Dell, made about $145,000 moonlighting for PGR and sharing confidential information about both the computer maker and its suppliers, the SEC alleged.
How innovative. HIRED INSIDER TRADERS paid fees for information.
Is it possible, lawyers among us, that because these "employers worked for fees" providing sensitive corporate information that, by definition they were HIRED INSIDER TRADERS? Or does the receiver of the information have to act on the information as in make a trade?
Here's the Walt Disney shares story, according to the Washington Post article:
The SEC alleges that a former assistant for Disney's head of corporate communications and her boyfriend tried to profit from secret company information, including Disney's quarterly earnings before they were released.
The assistant, Bonnie Hoxie, and her boyfriend, Yonni Sebbag (who used the alias "Jonathan Cyrus") sent letters in early 2010 to more than 20 hedge funds, some of whom immediately alerted the SEC, according to the government.
The FBI then went undercover and contacted Sebbag, offering to buy his information. The SEC says that when Hoxie learned Disney's earnings per share, she began dreaming of the designer handbags that Sebbag could buy her as a gift, sending him a photo of a Stella McCartney bag.
Sebagg's response: "I may be able to [buy] u 2 of them, lol."
Sebagg and Hoxie have both pleaded guilty. Sebagg was sentenced to 27 months in prison. Hoxie will be sentenced later this month.
So, some but not all of the Hedge Funds alerted the SEC. What did the other Hedge Funds do? Did anyone contact any members of Congress? We can't know, of course. What we do know is that it would only take a phone call, an email, or a handwritten note dropped off to a friend of a friend or directly to a member of Congress and/or their office.
Coincidently, only about 12 Congress Members bought Walt Disney shares in 2010. Some bought a lot of Walt Disney shares in 2010. Until proven otherwise, it's a big coincidence. Democrats are just as coincidently interested in Walt Disney shares in 2010 as are Republicans.
Here's the complete list of Walt Disney transactions from Opensecrets.org. It's a long list. I have listed these by transaction date because the Insider Information was distributed in the beginning of 2010:
Michael McCaul (R-Texas) Walt Disney Co Purchased 01/13/10 $15,001 to $50,000
Michael McCaul (R-Texas) Walt Disney Co Purchased 01/13/10$1,001 to $15,000
Stephen Ira Cohen (D-Tenn) Walt Disney Co Purchased 01/20/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/20/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/21/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/22/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/25/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/28/10 N/A
Charlie Wilson (D-Ohio) Walt Disney Co Sold 02/03/10 $15,001 to $50,000
James B. Renacci (R-Ohio) Walt Disney Co Purchased 02/03/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 02/03/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/02/10 N/A
Kay R. Hagan (D-NC) Walt Disney Co Purchased 03/08/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 03/08/10 $1,001 to $15,000
Louis J. Barletta (R-Pa) Walt Disney Co Sold 03/08/10 N/A
Michael McCaul (R-Texas) Walt Disney Co Sold 03/11/10 $15,001 to $50,000
Michael McCaul (R-Texas) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
Michael McCaul (R-Texas) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
Michael McCaul (R-Texas) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/24/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/24/10 N/A
Michael McCaul (R-Texas) Walt Disney Co Sold 04/14/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
James B. Renacci (R-Ohio) Walt Disney Co Purchased 04/27/10 N/A
Michael McCaul (R-Texas) Walt Disney Co Sold 05/03/10 $1,001 to $15,000
Tom Coburn (R-Okla) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Richard A. Berg (R-ND) Walt Disney Co Sold 05/07/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 05/07/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 05/11/10 N/A
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Louis J. Barletta (R-Pa) Walt Disney Co Sold 05/20/10 N/A
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Dave Camp (R-Mich) Walt Disney Co Purchased 06/28/10 $50,001 to $100,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Mary Bono Mack (R-Calif) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Mary Bono Mack (R-Calif) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 07/29/10 $1,001 to $15,000
Ted Deutch (D-Fla) Walt Disney Co Sold 08/04/10 $1,001 to $15,000
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Vernon Buchanan (R-Fla) Walt Disney Co Purchased 08/23/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 08/23/10 $1,001 to $15,000
Vernon Buchanan (R-Fla) Walt Disney Co Sold 08/27/10 $1,001 to $15,000
Mary Bono Mack (R-Calif) Walt Disney Co Sold 09/13/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Sold 09/13/10 $1,001 to $15,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/20/10 $100,001 to $250,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/20/10 $50,001 to $100,000
James B. Renacci (R-Ohio) Walt Disney Co Sold 09/20/10 N/A
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/23/10 $1,001 to $15,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/28/10 $15,001 to $50,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/28/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/28/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 10/01/10 $1,001 to $15,000
Christopher J. Lee (R-NY) Walt Disney Co Sold 10/06/10 $1,001 to $15,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/08/10 $15,001 to $50,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/08/10 $15,001 to $50,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 10/14/10 $1,001 to $15,000
Mary Bono Mack (R-Calif) Walt Disney Co Sold 10/19/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Sold 10/19/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/26/10 $15,001 to $50,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 11/04/10 $1,001 to $15,000
James B. Renacci (R-Ohio) Walt Disney Co Purchased 11/04/10 N/A
James Webb (D-Va) Walt Disney Co Exchanged 12/22/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 12/22/10 $1,001 to $15,000
Michael McCaul (R-Texas) Walt Disney Co Sold 12/28/10 $15,001 to $50,000
Michael McCaul (R-Texas) Walt Disney Co Sold 12/28/10 $1,001 to $15,000
Jane Harman (D-Calif) Walt Disney Co Sold 02/09/11 $1,001 to $15,000
Jane Harman (D-Calif) Walt Disney Co Exchanged 02/09/11 $1,001 to $15,000
Here's the same list, sorted by the name of the Congress Member:
Vernon Buchanan (R-Fla) Walt Disney Co Purchased 08/23/10 $1,001 to $15,000
Vernon Buchanan (R-Fla) Walt Disney Co Sold 08/27/10 $1,001 to $15,000
Tom Coburn (R-Okla) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Ted Deutch (D-Fla) Walt Disney Co Sold 08/04/10 $1,001 to $15,000
Stephen Ira Cohen (D-Tenn) Walt Disney Co Purchased 01/20/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 05/07/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 05/07/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Richard A. Berg (R-ND) Walt Disney Co Sold 08/05/10 N/A
Michael McCaul (R-Tx) Walt Disney Co Sold 03/11/10 $15,001 to $50,000
Michael McCaul (R-Tx) Walt Disney Co Sold 12/28/10 $15,001 to $50,000
Michael McCaul (R-Tx) Walt Disney Co Purchased 01/13/10 $15,001 to $50,000
Michael McCaul (R-Tx) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Sold 05/03/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Sold 04/14/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Purchased 01/13/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Sold 12/28/10 $1,001 to $15,000
Michael McCaul (R-Tx) Walt Disney Co Sold 03/11/10 $1,001 to $15,000
Mary Bono Mack (R-Ca) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Mary Bono Mack (R-Ca) Walt Disney Co Sold 09/13/10 $1,001 to $15,000
Mary Bono Mack (R-Ca) Walt Disney Co Sold 10/19/10 $1,001 to $15,000
Mary Bono Mack (R-Ca) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Louis J. Barletta (R-Pa) Walt Disney Co Sold 03/08/10 N/A
Louis J. Barletta (R-Pa) Walt Disney Co Sold 05/20/10 N/A
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/28/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 10/14/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 03/08/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 03/08/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/15/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/23/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 04/27/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/07/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 05/13/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 06/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Purchased 07/26/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 09/28/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 10/01/10 $1,001 to $15,000
Kay R. Hagan (D-NC) Walt Disney Co Exchanged 11/04/10 $1,001 to $15,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/20/10 $100,001 to $250,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/20/10 $50,001 to $100,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/08/10 $15,001 to $50,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/26/10 $15,001 to $50,000
John Kerry (D-Mass) Walt Disney Co Purchased 09/28/10 $15,001 to $50,000
John Kerry (D-Mass) Walt Disney Co Purchased 10/08/10 $15,001 to $50,000
Jane Harman (D-Calif) Walt Disney Co Sold $15,001 to $50,000
Jane Harman (D-Calif) Walt Disney Co Sold 02/09/11 $1,001 to $15,000
Jane Harman (D-Calif) Walt Disney Co Exchanged 02/09/11 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 07/29/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 08/23/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 12/22/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 12/22/10 $1,001 to $15,000
James Webb (D-Va) Walt Disney Co Exchanged 10/25/10 $1,001 to $15,000
James B. Renacci (R-Ohio) Walt Disney Co Sold 09/20/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/20/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/21/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/22/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/25/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 01/28/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 02/03/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 02/03/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/02/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/24/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 03/24/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 04/27/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 05/11/10 N/A
James B. Renacci (R-Ohio) Walt Disney Co Purchased 11/04/10 N/A
Dave Camp (R-Mich) Walt Disney Co Purchased 06/28/10 $50,001 to $100,000
Dave Camp (R-Mich) Walt Disney Co Purchased $15,001 to $50,000
Connie Mack (R-Fla) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Sold 09/13/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Sold 10/19/10 $1,001 to $15,000
Connie Mack (R-Fla) Walt Disney Co Purchased 07/29/10 $1,001 to $15,000
Christopher J. Lee (R-NY) Walt Disney Co Sold 10/06/10 $1,001 to $15,000
Charlie Wilson (D-Ohio) Walt Disney Co Sold 02/03/10 $15,001 to $50,000
On February 1, 2010 the Walt Disney shares were worth $29.52.
Today they are worth $41.48 a share with several ups and downs since January, 2010.
Let's look at the largest traders of Walt Disney Shares: Renacci, Hagan, and Kerry.
These are very, very wealthy people who probably don't have time to trade for themselves. I am assuming they delegate this responsibility to others. Are they or theirs privy to insider trading information?
James Renacci joined Congress in 2010 and is up for re-election in 2012.
James B. Renacci Walt Disney shares, 2009: Walt Disney Co $3,003 to $45,000
Kay Hagan joined Congress in 2009. Her husband is a very wealthy transaction lawyer.
Kay Hagans Walt Disney Shares in 2010: $1,001 to $16,000
Kay Hagan's Walt Disney Shares in 2009: $1,001 to $16,000
Kay Hagan's Walt Disney transactions, 2009
Walt Disney Co Sold $1,001 to $15,000
Kay Hagan Walt Disney Shares, 2008: Kay's first year in Congress.
John Kerry has been in Congress since 1985 and is the wealthiest US Senator, worth From $182,755,534 to $294,869,059. Of course, we all know that he married a very wealthy woman.
John Kerry's Walt Disney Shares in 2010: $150,002 to $350,000
John Kerry's Walt Disney shares in 2009: $150,002 to $351,000
Kerry's 2009 Walt Disney Transactions:
Walt Disney Co Sold May 9 2005 $50,001 to $100,000
Walt Disney Co Sold Nov 9 2005 $1,001 to $15,000
Walt Disney Co Sold Aug 9 2006 $15,001 to $50,000
Walt Disney Co Sold Jul 17 2009 $15,001 to $50,000
Walt Disney Co Sold Jul 21 2009 $50,001 to $100,000
Walt Disney Co Sold Jul 31 2009 $100,001 to $250,000
John Kerry's Walt Disney shares in 2008: $150,002 to $351,000
2008 Transactions:
Walt Disney Co Sold Jan 14 2008 $15,001 to $50,000
Walt Disney Co Purchased Jan 28 2008 $15,001 to $50,000
Walt Disney Co Purchased Jan 28 2008 $15,001 to $50,000
Walt Disney Co Purchased Feb 1 2008 $100,001 to $250,000
Walt Disney Co Sold Apr 1 2008 $500,001 to $1,000,000
Walt Disney Co Sold Apr 9 2008 $50,001 to $100,000
Walt Disney Co Sold Apr 14 2008 $100,001 to $250,000
Walt Disney Co Sold Apr 14 2008 $15,001 to $50,000
Walt Disney Co Sold Apr 15 2008 $15,001 to $50,000
Walt Disney Co Sold Apr 21 2008 $50,001 to $100,000
Walt Disney Co Sold Apr 23 2008 $50,001 to $100,000
Walt Disney Co Sold May 12 2008 $50,001 to $100,000
Walt Disney Co Sold Jun 5 2008 $50,001 to $100,000
Walt Disney Co Sold Jun 9 2008 $50,001 to $100,000
Walt Disney Co Sold Jun 16 2008 $50,001 to $100,000
Walt Disney Co Sold Jul 29 2008 $50,001 to $100,000
Walt Disney Co Sold Aug 25 2008 $15,001 to $50,000
Walt Disney Co Sold Sep 24 2008 $50,001 to $100,000
Walt Disney Co Sold Oct 2 2008 $50,001 to $100,000
Walt Disney Co Sold Oct 2 2008 $15,001 to $50,000
Again, this is all coincidental and more than likely these Congress members weren't aware of these transactions taking place.
However, as the FBI and DOJ cases unroll, I hope that people somewhere will take a look at the Congressional transactions looking for coincidences. Who knows, some could be actual insider trading on the hill.
Another example. In the list of companies listed in the Intro above, Clearwire is listed.
I did a search at OpenSecrets for Clearwire. This is what I found:
Jeff Bingaman (D-NM) Clearwire Corp Purchased 10/18/10 $1,001 to $15,000
Jeff Bingaman (D-NM) Clearwire Corp Sold 11/19/10 $1,001 to $15,000
And here's the List of Congress' Favorite Stocks by rank, #1 being the MOST favorite. No conflicts of interest here (snark):
1 General Electric 94 46 48
2 Procter & Gamble 74 33 41
3 Cisco Systems 72 33 39
4 Microsoft Corp 70 28 42
5 Pfizer Inc 61 27 34
5 Bank of America 61 23 38
7 AT&T Inc 57 20 37
8 Intel Corp 54 24 30
8 Johnson & Johnson 54 18 35
8 Verizon Communications 54 22 32
11 Exxon Mobil 53 14 39
12 Apple Inc 51 21 30
13 Coca-Cola Co 49 22 27
13 JPMorgan Chase & Co 49 19 30
15 PepsiCo Inc 47 22 25
16 Wells Fargo 45 19 25
17 Berkshire Hathaway 43 18 25
18 Walt Disney Co 41 19 22
19 Home Depot 40 16 24
20 Hewlett-Packard 38 15 23
20 McDonald's Corp 38 17 21
22 Merck & Co 37 14 23
22 Citigroup Inc 37 15 22
24 Abbott Laboratories 35 11 24
25 Wal-Mart Stores 31 12 19
26 3M Co 30 16 14
26 Oracle Corp 30 13 17
28 Apache Corp 29 10 19
29 Qualcomm Inc 28 12 16
30 Google Inc 27 10 17
31 Goldman Sachs 26 9 17
31 Ford Motor Co 26 8 18
31 Conocophillips 26 7 19
31 Time Warner 26 14 12
35 United Technologies 25 9 16
35 Chevron Corp 25 8 17
35 Bristol-Myers Squibb 25 7 18
38 BP 24 2 22
38 Amgen Inc 24 9 15
38 Duke Energy 24 10 14
38 Emerson 24 8 16
38 Kraft Foods 24 10 14
38 Teva Pharmaceutical Industries 24 12 12
44 Schlumberger Ltd 23 7 16
44 Comcast Corp 23 12 11
44 EMC Corp 23 13 10
44 Altria Group 23 6 17
48 CVS/Caremark Corp 22 7 15
49 Devon Energy 21 6 15
49 DuPont Co 21 6 15
I find this list disconcerting, but I am really glad that we live in a country where this information has to, by law, be disclosed
Although I can't quite figure out how it is that James Renacci is allowed to list N/A in his stock transactions listed under a company search.
Well, good news. If you go to his page for 2010 and click on transactions, you can see the amount of each transaction. Is Renacci a day trader or does he have a very busy broker? Mr. Renacci is the 10th most wealthy member of the House of Representatives.
Walt Disney Co Purchased 1/20/2010 $1,209
Walt Disney Co Purchased 1/21/2010 $4,676
Walt Disney Co Purchased 1/22/2010 $1,939
Walt Disney Co Purchased 1/25/2010 $2,787
Walt Disney Co Purchased 1/28/2010 $6,305
Walt Disney Co Purchased 2/3/2010 $3,789
Walt Disney Co Purchased 2/3/2010 $4,010
Walt Disney Co Purchased 3/2/2010 $7,567
Walt Disney Co Purchased 3/24/2010 $5,482
Walt Disney Co Purchased 3/24/2010 $7,025
Walt Disney Co Purchased 4/27/2010 $3,170
Walt Disney Co Purchased 5/11/2010 $3,423
Walt Disney Co Sold 9/20/2010 $873
Walt Disney Co Purchased 11/4/2010 $920
For those interested, there is a ton of information at OpenSecrets.org. When you hear of a new Insider Trading case, check out who traded that stock at the time of the purported Insider Trading. Who knows, there may be more coincidences than we think or they may be none. Discerning voters want to know.
Anyway, it looks like there is a large web of professionals working part-time passing out proprietory information.
I think that's illegal. The SEC agrees and filed this Complaint.
SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
against
MARK ANTHONY LONGORIA,
DANIEL L. DEVORE,
JAMES FLEISHMAN,
BOB NGUYEN,
WINIFRED JIAU,
WALTER SHIMOON,
SAMIR BARAI,
JASON PFLAUM,
BARAI CAPITAL MANAGEMENT,
NOAH FREEMAN,
and DONALD LONGUEUIL,
Defendants.
SUMMARY
1. This case involves insider trading by ten individuals and one investment adviser entity, all of whom are consultants, emplorees, or clients of the so-called "expert network" firm, Primary Global Research LLC·C"PGR").
It's an interesting read.