MovieChat Forums > Signal to Noise Discussion > Ray Kassar

Ray Kassar

posted 9 years ago by jrock158
6 replies | jump to latest

Greedy CEO sold his stock half hour before the negative earnings report went public and didn't get popped for insider trading. Dude must of had the OJ Simpson 1995 defense team on his side to get out of that one.

[–] angelabordack 9 years ago

Insider trading wasn't huge back in '83. In today's world, he would have suffered the same fate as Martha Stewart. OJ's defense team wasn't even known in '83.

I completely understand what you're saying though. He was greedy as f (ck.

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[–] 9 years ago

[deleted]

[–] adresher-1 9 years ago

Exactly! In the early 80s most Americans had no idea what insider trading was, the vast majority of Americans owned bonds rather than stocks as yields were high and it was a much safer investment. Also, CEOs were well paid, but did not make remotely the money CEOs make today. There were many people in the 80s who should have gone to jail, however got off simply because they jury could not understand the complexity of what they did to break the law.

If this happened today he would have likely have been arrested and it would not be hard for a prosecutor to prove him guilty to a jury of his peers.

[–] angelabordack 9 years ago

Thanks for elaborating on my post! Great points you made.

[–] Heart_Wrencher 9 years ago

And to think that this dude is now a board member for a not for profit hospital.
Inside trading happens all the time. People with deep pockets know how to cheat the system.

[–] AdmiralTugBenson 9 years ago

He's probably more responsible for the fall of Atari than anybody, E.T. included. But the one thing you can say for him is that he disagreed with the idea of making a video game out of E.T. in the first place.

See you guys at the 10 year prison reunion - Ben Richards