Intel Corp (INTC)

[Elmer Phud]

Spokeshave -

This is not entirely correct. The SEC only prohibits such trading if the insider has fiduciary responsibility. Now, I am not arguing that Sanders is not a fiduciary, but trading on insider knowledge is not illegal per se. There are other elements that make it illegal.

I don't know for certain what the SEC policy is but I have been told that anyone who trades based on non public information is violating the law. We have seen cases where the relatives of people with non fiduciary responsibility have been prosecuted for trading on insider information. Now what I can't understand is why Jerry has been allowed to get away with selling just before personally releasing bad news and perhaps now buying just before good news. We may find out shortly that AMD is getting a bump in Flash orders. I thought Officers had to announce their intention to trade well in advance. Why the hands off for this guy?

EP