Pauls' Revere
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- Nov 15, 2007
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http://finance.yahoo.com/news/report-us-prosecutors-launched-insider-001937183.html
At issue is a series of Fed meetings in September 2012, during which the Federal Open Market Committee voted to buy $40 billion worth of mortgage-backed securities each month. Details of the Fed's confidential meetings in September were due to be disclosed in October.
On September 28, however, The Wall Street Journal reported that Fed officials were considering further economic stimulus. The story suggested that there was a "strong possibility" that the Fed would start buying large quantities of Treasury bonds.
On October 3, Medley Global Advisors released a research note saying that the Federal Reserve was "likely to vote as early as its December meeting" on starting monthly purchases of Treasury bonds, according to the Journal. Medley's note contained specific information from the meeting that suggested Medley had received inside information, the newspaper says.
At issue is a series of Fed meetings in September 2012, during which the Federal Open Market Committee voted to buy $40 billion worth of mortgage-backed securities each month. Details of the Fed's confidential meetings in September were due to be disclosed in October.
On September 28, however, The Wall Street Journal reported that Fed officials were considering further economic stimulus. The story suggested that there was a "strong possibility" that the Fed would start buying large quantities of Treasury bonds.
On October 3, Medley Global Advisors released a research note saying that the Federal Reserve was "likely to vote as early as its December meeting" on starting monthly purchases of Treasury bonds, according to the Journal. Medley's note contained specific information from the meeting that suggested Medley had received inside information, the newspaper says.
