Insider trading on electric company sellout in Texas

[Horse with no Name]

I'll be very surprised if we don't have some of these people sitting in high positions in our government.

http://www.dallasnews.com/sharedcontent/dws/bus/stories/030307dnbustxuoptionstrading.11579244.html

>>>>snip
Earlier that day, TXU's stock rose more than 4 percent on more than double its average trading volume over the prior three months. (TXU shares jumped an additional13 percent on Feb. 26.)

The volume of TXU call options – which give investors the right, but not the obligation to buy the stock – rose seven-fold on Feb. 23 from the average daily volume for the rest of February. About 18,000 of the options changed hands that day.

The complaint alleges the unknown purchasers used accounts in Switzerland, Germany and the United Kingdom to buy 8,020 call options between Feb. 21 and 23, giving them the right to buy hundreds of thousands of TXU shares at a certain price over a defined period.

But the options were "out of the money" when purchased, the SEC said, meaning they would only be profitable if TXU stock rose significantly in the subsequent weeks.

[Dover]

1. Yeah, t hat whole sale deal has a strong fish smell.......n/t

[Xerxes]

2. It's sad, but I'm no longer shocked

The whole Republican establishment in Texas is rotten. I've almost just lost hope for our state and focused on national issues.