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Law Humor

: Bernard Madoff

Best Laugh of Day: CNBC Kernen and Sorkin Square Off : SEC Staffer Personal Trading Accounts

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So far, the best laugh of the day comes courtesy of CNBC aka "Stock Market's Cartoon Channel" re exchange between Andrew Sorkin and Joe Kernen on the topic of whether SEC staffers should continue to be allowed to trade in their "PAs" (personal trading account), when considering their unique access to inside information:

Sorkin: "So, Joe...do you think that prohibiting SEC employees from trading for their personal accounts is a good or a bad idea?"

Kernen: "Hey, if we (CNBC employees) can't, and if members of Congress are now subject to new rules that prohibit their trading in their PAs, I don't think SEC staffers should be allowed to, either."

Sorkin: "Do you think if the SEC introduces rules that prohibit that type of activity, it will impact the caliber of folks that they hire?"

Kernan: "The caliber of folks that work there?? It couldn't get any worse, can it?"

Enough said on that topic..

Full post as published by Bernard Madoff on November 21, 2014 (boomark / email).