alt Hacker NewsWrong. People who work in finance (I spent years there) are allowed to trade stocks their company is trading. There is a process to get approval. The equities division at an IB might be trading every single name in the S&P500. If you sit in the investment banking division and that division isn't doing anything related to a name, you are likely to get approval.
In this case, the idea that Cantor can't do something because the former head is now in a government job is crazy. No one "in the business" thinks Cantor is suddenly hobbled.
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Ajakks • yesterday at 4:26 PM
Oh - so the kid went out and he got permission to do this?
Where is that? Who approved his request?
> In this case, the idea that Cantor can't do something because the former head is now in a government job is crazy. No one "in the business" thinks Cantor is suddenly hobbled.
That's not the idea, and it almost seems like a straw man to be honest. The actual idea is that the current head of Cantor can't do something because he's a direct relative of a high ranking government official whose powers and job duties present a conflict of interest for this specific set of transactions.