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Joe Kennedy No Angel, but no bootlegger either...

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Joe Kennedy No Angel, but no bootlegger either...
Greg Burnham Offline
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#9
28-03-2011, 04:42 PM
Magda Hassan Wrote:I agree Seamus. I'd love to know more too about a lot of wealthy families. You know what they say 'Behind every great fortune there is a great crime'.

Remember, back during Old Joe's insider trading days, there was no such thing as "anti-insider trading" laws as there was no Securities Exchange Commission. Those laws and that regulatory body came about in response to the activities that eventually led to Black Friday and the crash of Wall Street. Roosevelt then appointed Joe Kennedy to the position of the first Chairman of the Securities Exchange Commission. It was Old Joe who actually established policy that effectively reined in the Wall Street power brokers and prohibited certain forms of insider trading.

But, yes--he made a fortune on insider trading prior to it being illegal.
GO_SECURE

monk


"It is difficult to abolish prejudice in those bereft of ideas. The more hatred is superficial, the more it runs deep."

James Hepburn -- Farewell America (1968)
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Joe Kennedy No Angel, but no bootlegger either... - by Greg Burnham - 28-03-2011, 04:42 PM

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