The SEC is investigating whether executives at First Republic Bank, which was seized by regulators and sold to JPMorgan Chase, improperly traded on inside information.
Until the late 1800s, moments of widespread high-risk financial gambling weren’t considered manias but the results of individual actors, who bore responsibility for the disastrous results.
The easy answer as to why trading was halted relates to the stock’s ‘volatility’ after its dramatic climb in recent weeks. But it could also mean something fishy is going on.
Did members of Congress illegally sell stocks after getting inside information about the pandemic from federal officials? A former lawyer for the House says proving such cases is very difficult.