Two Morgan Stanley executives have been charged with insider trading in schemes involving their spouses. The frenzy of deal making and big rewards, with pillow talk, makes insider trading a big problem.
A week from hell for Morgan Stanley. First it gets fined $300,000 for failing to stop a trader from entering the wrong order for stocks. Then one of its ex-traders is barred after he was caught inappropriately trading and earning big commissions from the guardian accounts of injured kids.
Morgan Stanley definite pattern might have to have to make payments to hundreds of investors in arbitration cases after it withheld e-mails from them and made the false claim that the emails were lost in the September 11 terrorist attacks.
The Securities and Exchange Commission, panned by Congress for its handling of a trading probe, is now under investigation from the Government Accountability Office. Questions are now being asked whether the agency gave special treatment to a major fund-raiser for President Bush.
