This day and age of digital media it's report first and check facts later. Journalism has changed and now it's a race to say you were the first to report it.
I still wonder what the FBI was looking to accomplish by showing up at the course.
Report: FBI investigating Phil Mickelson
This day and age of digital media it's report first and check facts later. Journalism has changed and now it's a race to say you were the first to report it.
I still wonder what the FBI was looking to accomplish by showing up at the course.
Called it when the news came out. Someone saw his name somewhere and had to change their underwear after. Premature.
jhstew1
Idiot Free
yep..that was my exact thought as well when this started at The Memorial
Johnny mojo
Mojovated!
The Onion layers continue to be peeled back. Wonder if this gives him a boost in the Open this week?
JM
JM
Mulligan9111
Go Skers!!
Why would anybody get in trouble for reporting that Phil was under investigation? It's true that he was being investigated. All they announced is that he has been cleared of the one transaction. He's still being investigated for another transaction.
arydolphin
GTHC!
- Thread starter
- #157
This story is not going away.
More information here: http://www.marketwatch.com/story/ph...rading-by-the-sec-2016-05-19?siteid=bulletrss
More information here: http://www.marketwatch.com/story/ph...rading-by-the-sec-2016-05-19?siteid=bulletrss
rickterp
Active member
Not good for Phil; insider trading charges usually stick.
Wake
Active member
From quick research it looks like a relief defendant means they aren't accusing him of wrongdoing, but he has no right to the money. So would he only be at risk of losing the profit he made? No fine or jail time?
Puttin4Bird
Say what again mf'er!
I'm guessing Phil wouldn't sweat the $931k and rather this just went away!
I am not 100% sure but that seems right
Wake
Active member
Haha, if he was glad to give up the 931K I bet this never would have hit the news. I bet he is none too quick to hand over 1 Mil in cash.
- Moderator
- #163
Phil with the dirty dealings... A true gambler I guess.
These stories make me wonder when enough money is enough for some people.... although he's hardly the worst example of that.
These stories make me wonder when enough money is enough for some people.... although he's hardly the worst example of that.
Puttin4Bird
Say what again mf'er!
Well, that's true. But hindsight I'm sure he wishes he wouldn't have chased the $ and just stayed away from it. This likely won't have a huge impact on him, but it could potentially have cost him some sponsorship cash, which would be a lot more than $931k in some cases.
- Admin
- #165
Watching golf scribes write about topics they know nothing about is hysterical.
in my business, i see it all the time. some of the richest people i work with are also the cheapest. it's not about having the toys, it's just about watching the number on your monthly statement get bigger and bigger.
but i also work with people who have so much they just don't care. i was discussing a client of mine with another of their advisors yesterday, and i was laying out some options to save them about $15 million in tax. it's nothing risky, it's very common, and not very complicated. he said the feedback he was getting from them was that they just have too much else going on their lives, and they're fine to just pay it. ok...
bobgeorge
Kentucky Wildcat Fan!
Making $931K in profit from a stock trade in a week is an amazing deal. Where do I sign up?
Become a degenerate gambler and make friends with shady people
Well, until he says he's guilty, I'm going to presume him innocent. My personal speculation (note, it is purely speculation by me) is that it is far more 'gray' than the SEC makes it out to be, and Phil has been a target for the past few years now (which I'm sure was by coincidence to be when he complained about his tax rate in California).
I'll wait and see, but these stories have popped up the past few years, and nothing ever happens, so then they find something else to try and get him on. It's like when they showed up on the golf course (which was just beyond a low class move designed to get media attention and nothing else). Whatever happened with that? As I recall, absolutely nothing.
Again, I'll wait and see.
~Rock
I'll wait and see, but these stories have popped up the past few years, and nothing ever happens, so then they find something else to try and get him on. It's like when they showed up on the golf course (which was just beyond a low class move designed to get media attention and nothing else). Whatever happened with that? As I recall, absolutely nothing.
Again, I'll wait and see.
~Rock
- Moderator
- #170
I hear you.. It's something I've really never grasped although the idea of financial freedom does sound pretty incredible.
Just seems like there has to be a threshold there. For most, it's higher than I can imagine.
Wake
Active member
It sounds to me like they are going after his buddy, and he is just getting caught up in it. Sounds like they are saying he did no wrong, but received advice that was illegal and illegally profited from it. I doubt the Federal government would go after him for saying California's taxes are too high. But I am not at all knowledgeable on the topic
I think it usually comes down to the type of person who is in those shoes in the first place. Typically in order to earn millions in the first place, you have to be extremely competitive and extremely motivated by money. So when you have millions, you want millions more. It's a challenge. It's like saying you should be satisfied with Scratch golf, why keep pushing to be a plus handicap, if you are the kind of person who can get to scratch, you probably aren't the kind to settle there. To them it's a game of how smart can I bet to make more than anyone else. Even if you aren't greedy and motivated by the money itself, you can always make more and more so you can give to your favorite causes more and more.
- Admin
- #172
Or work in Washington for our govt where they get away with it every year.
arydolphin
GTHC!
- Thread starter
- #173
And just like that, Phil and his team will take care of it. Must be nice to have almost a million dollars at your disposal to make things go away:
Brianbigoats
Active member
I wonder if insider trading has the same thrill for lefty as taking some guys cash on the course
Wake
Active member
Well, it was having 2.4 million at his disposal that got him in this mess. I bet I could invest all of my available cash in a dirty deal without raising the SEC's ire.
It certainly seems like that could have been done prior to this going public to save Phil another round of bad press. I wonder if he has to testify or give a statement as part of the deal.