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Three Equifax Managers Sold Stock Before Massive Cyber Hack Revealed: Why Not Make Insider Trading Legal?

This is Mish's argument, "Had there not been insider trading laws, the public may have found out about this long ago. Instead, insiders dumped shares over time and no one knows how many of their friends got tipped off as well." It doesn't make sense to me because laws or no laws, insiders dumped first. ~ Ilene 

Courtesy of Mish

Equifax reports hackers accessed up to 143 million US consumers’ information. Equifax discovered the breach on July 29.

Equifax discovered the breach on July 29. Just today, the public finds out about the breach. In the interim, three Equifax executives dumped about $1.8 million in Equifax shares.

Hey, why not? It’s only a “small percentage” of their holdings.
 

Credit reporting firm Equifax reported on Thursday a breach in which cyber criminals gained access to personal information on as many as 143 million U.S. consumers.

The firm said the “cybersecurity incident” resulted in hackers accessing names, Social Security numbers, birth dates and other personal information on as many as 143 million consumers. The U.S. population is estimated to be around 324 million, according to the Census Bureau.

Thousands also had their credit card numbers and dispute documents accessed.

Equifax said in a statement that hackers “exploited a U.S. website application vulnerability” to gain unauthorized access to the files between mid-May and July. However, the company’s investigation has turned up “no evidence” that hackers accessed the company’s core consumer or commercial credit reporting databases.

Don’t Worry, It’s Not “Core Data”

Hackers got 143 million credit card numbers, social security numbers, and birthdates.

Don’t worry, that’s not core data.

Time To Dump Stock

Bloomberg reports Three Equifax Managers Sold Stock Before Cyber Hack Revealed.

Continue reading here…


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  1. We have a very fine corptocracy in this country. Functions just the way it was designed.