143: Michael Kimelman – Convicted of Insider Trading—From Suburban Life to Prison Life
Chat With Traders
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The Rise and Fall of Daytech
There was a high turnover of traders at Daytech, but not as high as you would expect. "All they were really doing was offering some competition to the big banks and the banks didn't like that" The SEC did indeed take a look at some of these firms and try to cite them or censure them. But most of the censoring that was done were wristlaps because this was good for the retail client.
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