A few days after having murdered Mr Hazem Khalid Al-Braikan, CEO financier of Kuwait’s Al-Raya Investment Co (1),
the US of A Securities and Exchange Commission continues to deny the laws of logic.

The SEC accuses Mr Khaled Mohammed Sharif Al Sayed Al Hashemi, a UAE national, of insider trading. (2)

Logic is the science and art of correct thinking.

It is true that access to information may not be as efficient as desired.

The question which arises is whether it is logically possible to deter insider trading significantly.

Moreover, insider trading harms nobody.

The SEC is only envious of Mr Al Hashemi for having made US$458,760 (Dh1.6 million) in illegal profits. (2, again)

Hence, in the Al-Braikan case, the SEC is not happy with having killed Mr Al-Braikan who also did not (who neither did?) harm any soul and the SEC will continue to per-secute his estate. (3)

The SEC which did nothing in the Madoff case,
where many people where harmed,
is now angry at the US of A department of justice in the Stanford probe. (4)

Repeal the SEC now!

Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/

NOTES

(1)
Al-Braikan – no black humour please
Posted by Ivo Cerckel on July 27th, 2009
http://bphouse.com/honest_money/2009/07/27/al-braikan-no-black-humour/

(2)
SEC accuses UAE citizen of insider dealing
By James Drummond in Abu Dhabi
Published: July 28 2009 09:33 | Last updated: July 28 2009 09:33
http://www.ft.com/cms/s/9786f106-7b4d-11de-9772-00144feabdc0,s01=1.html
SNIP
The US Securities and Exchange Commission has named a citizen of the United Arab Emirates in connection with alleged insider dealing, the second such charge of a Gulf national in the past week.
The SEC complaint, filed in Manhattan on Monday, accuses Khaled Mohammed Sharif Al Sayed Al Hashemi of Abu Dhabi of buying 120,000 shares in Nova Chemicals, a petrochemical producer, in February in the run-up to a takeover. Nova was eventually acquired by International Petroleum Investment Company, an Abu Dhabi state investment vehicle, for $2.3bn on 6 July. UNSNIP

(3)
Textron, Harman Case May Not End With Suspect’s Death (Update1)
By David Scheer, Zainab Fattah and Maher Chmaytelli
http://www.bloomberg.com/apps/news?pid=20601103&sid=aJwVmkT9c1pk
SNIP
July 27 (Bloomberg) — The death of Hazem al-Braikan may not halt a U.S. regulatory probe of profits he and Middle Eastern firms allegedly reaped on bogus takeover bids.

(4)
DoJ accused of delaying Stanford probe
By Stacy-Marie Ishmael and Brooke Masters in New York
Published: July 28 2009 20:46 | Last updated: July 29 2009 00:40
http://www.ft.com/cms/s/0/0452a618-7bad-11de-9772-00144feabdc0.html
SNIP
The US Department of Justice delayed a Securities and Exchange Commission investigation into the affairs of alleged fraudster Sir Allen Stanford by at least five months, a report by the inspector-general of the SEC has found.