what I plan to do with my summer cash

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
d34d9823
Posts: 1915
Joined: Wed Apr 14, 2010 2:52 pm

Re: what I plan to do with my summer cash

Postby d34d9823 » Fri May 28, 2010 1:52 pm

quickquestionthanks wrote:The "synergy" that allows their different investment departments to be so profitable stems from their organization having access to so much non-public information. Using non-public information obtained from a member of a public corporation to profit via trading stock is illegal and called "insider trading." This is how these are related.

Yeah, but even this is controversial. A lot of people think that insider trading laws are an unfair restriction on using what you know. It's not like insider trading is immoral; there just happens to be a law against it.

User avatar
CG614
Posts: 825
Joined: Wed Feb 03, 2010 10:26 am

Re: what I plan to do with my summer cash

Postby CG614 » Fri May 28, 2010 1:59 pm

1) Why is the OP Anonymous? He gives up no sensitive information.
2) BP is in for a long legal battle and tons more bad press. I highly doubt it has hit it's bottom.
3) OP, my uncle is stuck in Europe without his bank cards. He needs to get home. If you send me $1,000 then he will pay you $2,000 next week.

ToTransferOrNot
Posts: 1928
Joined: Thu Jan 22, 2009 12:45 am

Re: what I plan to do with my summer cash

Postby ToTransferOrNot » Fri May 28, 2010 3:05 pm

quickquestionthanks wrote:
ToTransferOrNot wrote:"Synergy" is a highly desireable trait that drives a huge portion of corporate mergers, essentially all vertical/horizontal integration, and drives gains in efficiency and, ultimately, social good.

"Insider trading" is a judicial construct based on a rule promulgated by the SEC.

How one is even remotely related to the other is completely beyond me.

And yes, I have read a fair amount about the Goldman case, given that I'm currently in Fed. Reg. (not that that makes me an expert, or even particularly knowledgeable, it does mean I know more than 0). To say that their buisness practices are "clearly" illegal is absurd. To say that the SEC might win or force a rather large settlement and a consent decree--more reasonable. The thing is, essentially every large bank takes similar actions. Query whether the changes the SEC wants to force are actually going to result in greater disclosure/more transparency, also query whether, even if the changes do result in more transparency and disclosure, whether the overall cost to the economy will be worth it.


The "synergy" that allows their different investment departments to be so profitable stems from their organization having access to so much non-public information. Using non-public information obtained from a member of a public corporation to profit via trading stock is illegal and called "insider trading." This is how these are related.

I'm really not trying to get into a war of words here, just explaining why I said what I did, and why I consider Goldman Sachs to be an evil, evil entity (with the exception of their public bonds department).



lol. No, the synergy does not come completely, or even predominently, from trading on non-public information. hth. What an absurd statement. Players in every industry look for efficiency gains. In finance, those gains can come from lowered transaction costs in the various stages of investment intermediaries, lower information costs, ability to drive harder negotiations due to market power, etc. Provide support for your ridiculous assumption that even a significant portion of profitability gains come from breaking the law, thanks. Sure, if they could get away with it on a systematic level, they would, but even the SEC isn't alleging rampant insider trading violations by Goldman.

As far as rules against insider trading being controversial: not really. Unless you believe in strong-form market efficiency, insider trading undermines the integrity of the market, which undermines the entire efficient market hypothesis, which undermines essentially everything fiscal conservatives support. Very few credible economists on either side of the aisle support a strong-form efficiency model, mostly because it is retarded and blatantly wrong. Many economists believe the current rules are too restrictive, particularly the private action rights, but you're not going to find many people outside of the batshit-crazy Epsteins of the world who believe that insider trading is A-OK.

User avatar
quickquestionthanks
Posts: 629
Joined: Mon Jan 25, 2010 7:30 pm

Re: what I plan to do with my summer cash

Postby quickquestionthanks » Sun May 30, 2010 1:31 am

This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.

User avatar
Always Credited
Posts: 2509
Joined: Wed Jun 24, 2009 1:31 pm

Re: what I plan to do with my summer cash

Postby Always Credited » Sun May 30, 2010 1:37 am

Anonymous User wrote:This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.


I have it from a trusted source in the White House that China has offered to pay all U.S. Law School tuition fees for this year's applicants as a good-faith gesture for improved relations. The offer was refused.

User avatar
quickquestionthanks
Posts: 629
Joined: Mon Jan 25, 2010 7:30 pm

Re: what I plan to do with my summer cash

Postby quickquestionthanks » Sun May 30, 2010 1:46 am

Always Credited wrote:
Anonymous User wrote:This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.


I have it from a trusted source in the White House that China has offered to pay all U.S. Law School tuition fees for this year's applicants as a good-faith gesture for improved relations. The offer was refused.


I don't get it. Mine was true.

d34d9823
Posts: 1915
Joined: Wed Apr 14, 2010 2:52 pm

Re: what I plan to do with my summer cash

Postby d34d9823 » Sun May 30, 2010 1:51 am

Anonymous User wrote:
Always Credited wrote:
Anonymous User wrote:This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.


I have it from a trusted source in the White House that China has offered to pay all U.S. Law School tuition fees for this year's applicants as a good-faith gesture for improved relations. The offer was refused.


I don't get it. Mine was true.

No, yours was conspiracy theory bullshit.

The top kill would have sealed the well, eliminating production from that well permanently. Also, there is no "pipeline" to save.

User avatar
Always Credited
Posts: 2509
Joined: Wed Jun 24, 2009 1:31 pm

Re: what I plan to do with my summer cash

Postby Always Credited » Sun May 30, 2010 2:16 am

Anonymous User wrote:
Always Credited wrote:
Anonymous User wrote:This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.


I have it from a trusted source in the White House that China has offered to pay all U.S. Law School tuition fees for this year's applicants as a good-faith gesture for improved relations. The offer was refused.


I don't get it. Mine was true.


Prove that mine isn't.

User avatar
quickquestionthanks
Posts: 629
Joined: Mon Jan 25, 2010 7:30 pm

Re: what I plan to do with my summer cash

Postby quickquestionthanks » Sun May 30, 2010 2:23 am

d34dluk3 wrote:
Anonymous User wrote:
Always Credited wrote:
Anonymous User wrote:This is all just an attempt to salvage the pipeline.

I have it from a trusted source in the Navy that the US Navy offered to send a submarine to the broken pipe and seal it shut. The offer was refused.


I have it from a trusted source in the White House that China has offered to pay all U.S. Law School tuition fees for this year's applicants as a good-faith gesture for improved relations. The offer was refused.


I don't get it. Mine was true.

No, yours was conspiracy theory bullshit.

The top kill would have sealed the well, eliminating production from that well permanently. Also, there is no "pipeline" to save.



I heard this from an officer in the United States Navy. He almost made it as a Seal and is not the type to lie about this. I'm no expert in offshore drilling, so perhaps I misspoke regarding what it is they're trying to salvage. However, it should be pointed out that the containment dome was going to be used to extract oil. They apparently switched to the "top kill" method after seeing that they would not be able to get a containment dome to work. This means they decided that an extra week's worth of oil spilling was worth the risk trying to make a containment dome that would continue to give them oil.

Conspiracy theory bullshit would be that this was an act of ecoterrorism aimed at destroying public sentiment towards fossil fuels.

User avatar
vanwinkle
Posts: 9740
Joined: Sun Dec 21, 2008 3:02 am

Re: what I plan to do with my summer cash

Postby vanwinkle » Sun May 30, 2010 2:40 am

People who use the anonymous feature to discuss things not related to actual legal employment, without the permission of a moderator, risk being outed and/or banned. For now I've been nice and just chosen "outed". Please keep this in mind going forward.




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.