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FBI, SEC investigate Mickelson in insider trading probe

Discussion in 'Sports and News' started by LongTimeListener, May 30, 2014.

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  1. The Big Ragu

    The Big Ragu Moderator Staff Member

    You know, I forgot about this thread. But it's disgusting what the Feds did. ... Whatever you think about insider trading laws (and they are dumb and the SEC is feckless), what Walters is on trial for right now has zero to do with Carl Icahn or Phil Mickelson. But that didn't stop the Feds from leaking a bunch of bullshit to try to create the smeer campaign that ultimately went nowhere on that Clorox probe.

    Originally on this thread, I pointed out that even what the stories were saying wasn't insider trading! Carl Icahn was accumulating Clorox stock. He wasn't an insider! There is absolutely nothing illegal (nor should there be) for a person who is accumulating stock to tell ohters. Icahn wasn't on the board of directors. He wasn't a part of management. If he actually had any insider info, someone ELSE had broken the law -- someone from Clorox. Which was what I posted.

    The Walters case is completely different. Tom Davis was the CEO of Dean Foods! He *was* an insider. If he fed info to Billy Walters before the company released the info to the investing public, well, that is the definition of insider trading. That shouldn't be illegal (I won't get into why), nor can you even regulate that kind of thing in an even way. But that whole thing with Mickelson and Carl Icahn was such bullshit. They went on a nonsensical fishing expedition and tried to make their lives hell. It's insidious.

    By the way, the Feds have gone after Billy Walters so many times and he always seems to get the best of them. The IRS has pounded sand trying to get him .It sounds like they have a very strong case now, but given that it is Billy Walters and the guy seems to be made out of teflon, I won't be surprised if he pulls off a miracle and beats this.
     
    The Big Ragu, Mar 21, 2017
    #49
  2. Michael_ Gee

    Michael_ Gee Well-Known Member

    I agree with your last paragraph. Nobody beats the house (the state is the ultimate house) that often unless they're real good at the game.
     
    Michael_ Gee, Mar 21, 2017
    #50
  3. lcjjdnh

    lcjjdnh Well-Known Member

    As much as I hate Phil, it seems to me the only bad actors here are Tom Davis (Chairman, not CEO, of Dean Foods), who disclosed confidential information about the company for his own personal benefit, and the federal law enforcement officials, who leaked the details and who are now pursuing this litigation.
     
    lcjjdnh, Mar 21, 2017
    #51
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    The Feds finally managed to get Billy Walters. Found guilty on 10 counts ranging from wire fraud to securities fraud. He's facing some serious prison time
     
    The Big Ragu, Apr 7, 2017
    #52
  5. The Big Ragu

    The Big Ragu Moderator Staff Member

    The Big Ragu, Apr 7, 2017
    #53
  6. hondo

    hondo Well-Known Member

    Must be why Phil played so bad on Saturday.
     
    hondo, Apr 9, 2017
    #54
  7. Buck

    Buck Well-Known Member

    This might be a dumb, naive or uninformed question, but why do people dislike Mickelson?
     
    Buck, Apr 11, 2017
    #55
  8. playthrough

    playthrough Moderator Staff Member

    He's had a tendency to act like the smartest guy in the room, which hasn't always gone over well. Some people see that sh*t-eating grin when he hits a ridiculous flop shot to two feet and hate him. He was also Tiger's big rival for many years (albeit not always much of a rivalry) and if you really liked Tiger, you might not have liked Phil.

    Or, put simply, he's a great golfer, stinking rich and married a gorgeous blonde. Hate all those guys.
     
    playthrough, Apr 11, 2017
    #56
  9. Riptide

    Riptide Well-Known Member

    He always seemed to be openly campaigning to be everyone's favorite golfer.
    Also, he wore such undersized shirts that it seemed he wanted to show off his man-boobs.

    Your mileage may vary. :eek:
     
    Riptide, Apr 11, 2017
    #57
  10. BitterYoungMatador2

    BitterYoungMatador2 Well-Known Member

    A lot of people think his "aww, shucks" demeanor combined with the dopey, big eyes and smile are completely phony. I've heard a lot of people say he's a real life David Sims out of Tin Cup.

    He's also dumb as shit. A couple of years ago he bitched about California's tax code and said if things didn't change he may have to move...this in the middle of a recession. His PR flack and agent sat with him in a car for two hours, explaining to him why working stiffs might considered this a self-absorbed, boneheaded statement and why he needed to apologize. It apparently took ALL TWO HOURS for them to explain this before he got it.
     
    BitterYoungMatador2, Apr 12, 2017
    #58
    lcjjdnh likes this.
  11. lcjjdnh

    lcjjdnh Well-Known Member

    I also seem to recall he was completely ignorant of how marginal tax rates work.
     
    lcjjdnh, Apr 12, 2017
    #59
  12. swingline

    swingline Well-Known Member

    He has a "I want to punch you in the face" face.

    Great golfer, though.
     
    swingline, Apr 12, 2017
    #60
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