Among the highlights in the full show:
Apple (AAPL) makes a cameo appearance around the 13:30 mark. Fox Business Network's Charlie ("Blood on the Street") Gasparino is explaining to Frontline's Martin Smith that hedge funds, because they trade so frequently, get special treatment on Wall Street.
Gasparino: Banks, because you give them so much trading commissions, tell you about market information before the rest of the world. That's considered legal.
Smith: How in the hell is that legal?
Gasparino: You know, markets are based on rumors all the time. Where do you draw the line between misappropriating, getting someone to tell me what Apple's earnings are, or "my sources in the market are saying Apple's going to knock it out of the park." You know what I'm saying? It's a market. People talk.
Smith, by the way, is everything a tough-minded business reporter should be. The bloviators on cable TV could learn a thing or two.
The consent order is a window into how information gets disseminated on Wall Street.
FORTUNE -- Ten months ago, while Apple's (AAPL) share price was stumbling and starting to falter, Citi's Glen Yeung gave it a good kick.
Citing reports of lower iPhone production at Hon Hai, Citi's newly appointed Apple analyst cut his price target and his rating -- from Buy to Neutral.
"Near-term supply chain order cuts," he wrote in a Dec. 17 note MOREPhilip Elmer-DeWitt - Oct 3, 2013 2:50 PM ET
The insider trader who pled guilty Tuesday leaked details about the iPhone 4 and the iPad
The wiretap caught it all.
Walter Shimoon, then a director at Flextronics (FLEX), a Singapore-based company that supplies Apple (AAPL) with camera and battery components, was being paid up to $200 per hour to leak insider information to a shadowy group of hedge funds and so-called expert networks.
In an Oct. 1, 2009 phone call secretly taped MOREPhilip Elmer-DeWitt - Jul 6, 2011 5:57 AM ET
A supplier is overheard tipping a hedge fund off to the project that became the iPad
On Oct. 1, 2009, according to a criminal complaint unsealed Thursday, a Flextronics director named Walter Shimoon had a telephone conversation with an an unnamed "cooperating witness" (CW-2) employed by a hedge fund.
During this conversation, secretly taped by the FBI and now entered into evidence, Shimoon allegedly gave CW-2 actual third quarter iPhone sales figures MOREPhilip Elmer-DeWitt - Dec 16, 2010 2:11 PM ET
"Channel checks" come under suspicion in a government probe of insider trading
"Wall Street analysts have been left bewildered," writes Susan Pulliam in Wednesday's Wall Street Journal, "as federal prosecutors begin to home in on insider-trading cases that appear to involve routinely published information about public-company supply chains."
Case in point: Apple (AAPL), a hot stock with an unusually secretive corporate culture. Today, dozens of analysts and so-called MOREPhilip Elmer-DeWitt - Nov 24, 2010 7:58 AM ET
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