Why is Insider Trading Illegal?

[@scarredbby1273]

My favorite thing about Martha Stewart is that she's friends with Snoop Dogg and only one of them is a convicted felon.

[@brainblaze6526]

Haha, I swear I saw them on a roast recently and someone made this joke. Very good stuff.

[@katfoster845]

Pity it's not true. Snoop Dogg was apparently convicted of a felony drugs charge in the 90s, and later for felony possession of a firearm by a convicted felon in 2007.

[@aredjayc2858]

@@katfoster845 Dang

[@quinnzykir]

Kat Foster flips table GOD DAMNIT

[@L4r5man]

@@katfoster845 Never bring facts into a good story. It'll only ruin it.

[@InquisMalleus]

Under US law, there are 3 levels of criminal offenses: Infractions are minor offenses - such as parking violations, most traffic tickets, and violating "Blue laws", which are laws still on the books, but which aren't typically enforced because they are outdated. Infractions are not eligible for a trial by jury Misdemeanors are moderate level offenses, which typically involved lower level crimes and will typically land you in a county jail or other low-level facility. In many states, theft under $500 is a misdemeanor, but $500 or more is a felony. Misdemeanors have lower penalties, usually less than two years in jail and fines under $2000. Misdemeanors are usually held in front of a trial judge, instead of a jury. Felonies are more serious offenses. They typically carry penalties of more than 2 years and fines over $2000. Felonies will land you in a state or federal penitentiary (depending on the jurisdiction). Felonies are tries either by a jury (default) or you can request a bench trial - by the judge with no jury. The difference between most is the severity of the crime. Some crimes can be prosecuted as either a misdemeanor or a felony. A DUI with a level slightly above the legal limit would probably be tried as a misdemeanor, but being double the legal limit would be a felony. Prosecutors also weigh intent of the actor, along with the severity of the crime, previous criminal history, and social factors. This is usually at the discretion of the prosecutor, not the police. Often a prosecutor will file felony charges while hoping the defendant will offer a plea for a misdemeanor, which makes their job easier - and often leads to poor people taking the deal on a questionable charge because the public defenders offices are understaffed, underfunded, and they encourage deals to lighten their case load. Had the matter gone to trial, so acquittal might be more likely, but the risk is a lot higher.

[@ReneSchickbauer]

Thank you for that very clear and simple explanation. This makes understanding U.S. law quite a lot easier.

[@killerlalu1]

To continue a small bit at the end: Higher rates of poor people will also accept a plea or minor charges because they are unable to post bond (an amount of money required to be paid upfront in order for the person to be let out of jail while awaiting the trial date, that can often be weeks or months away, as "insurance" that the person will actually show up for the trial), often meaning there will be no one able to take care of their family while they sit in jail, awaiting a future trial date, to be represented by a public defender who, due to overwhelming caseloads, may only have as little as 30 minutes to a few hours, maximum, to review each case... In totality...which doesn't offer anyone, even the innocent, hope that their case will be presented in a fair light, much less one that will result in them being acquitted.

[@killerlalu1]

With this, I think the main companies that control almost all of the private prisons in the States might be a good Business Blaze idea. #BusinessBlaze #BusinessBlazeIdea

[@Emira_75]

InquisMalleus America’s justice system is fucked sideways

[@aceofspades9503]

To add a bit more to Killerlalu1's thing- the judge will set an amount for 'bail', of which the person has to pay, I believe, 10% up front in order to be released from jail before the trial. If they do not post bail, they would have to stay in jail until their trial. The amount posted is then refunded if the person shows up for their court date. However, most bails are set at a high enough level that even 10% is more than most people have as available cash. Enter the Bail Bondsman, who is a person who will front the bail expense in exchange for a fee- often 10% of what they post. This amount is not refunded if the person shows up to court. Which makes it, in many ways, an unofficial tax on the poor. A poor person is unable to afford their bail, unable to sit in jail until their court date because they would lose their job or be unable to take care of their family, so they have to take what amounts to a private loan to be released. Whereas a rich person just pays the bail and gets it all refunded when they show up to court.

[@Filiolus]

Yeah, you definitely should cover the stock exchange crash! Love the chill format, you seem to be having fun with this narration style :D

[@InquisMalleus]

Also one of the S&L crash of the late 1980's would be good.

[@jordanwilliams9300]

Me too! Business Blaze is my favorite.

[@clarencepreston5466]

Lol i also love how casual Simon is on the business channel

[@Psillytripper]

it really is great!! and his other channels still stay so staunch! xD! u get a feel for simon its cool

[@brainblaze6526]

Thanks :)

[@jamesmiller380]

I love this channel. Follow your channels and this is by far my favorite. History and hysterics.

[@brainblaze6526]

Thanks :). Glad you're enjoying it!

[@protatoplaysgames6918]

I would love to know about the California gold Rush considering gold has been such a staple in economy for as long as humans have been using currency and California is the golden state

[@sagesheahan6732]

Netflix, Ken Burn's "The West" Episode 3: The Speck of the Future. Although, I would LOVE to see Simon's take on the Gold Rush, GRANTED. Hahaha XD

[@NajwaLaylah]

_The Barbary Coast_ by Herbert Asbury makes parts of the California gold rush too spicy for all ages-- in case you're looking for content to keep this from being a kid's channel.

[@protatoplaysgames6918]

I live in a small town that was founded as nothing more than a mining community near Mount Shasta. I've been lucky enough to explore a few old mines on my friends property

[@protatoplaysgames6918]

@@sagesheahan6732 I'll have to check that out

[@sagesheahan6732]

@@protatoplaysgames6918 Thats a volcano, isn't it? I could be wrong. I think I probably know where you live, town-wise... Just because, I have an unhealthy obsession with mountains that tend to, ya know.... ..Explode..

[@NotHPotter]

A video on the Great Depression would be great, and the bonus facts could be on its parallels to the current financial situation of the world economy. Also, it'll need to be a drinking game.

[@protatoplaysgames6918]

Hey dude the great depression that's a really good idea my grandparents lived through it and then was able to thrive afterwards I've always been interested in what they've gone through

[@junkiejackflash]

@@protatoplaysgames6918 it's interesting. My grandparents did too, and my grandfather rode around the country hiding in freight trains, working in rodeos, and got a job in constructing the Grand Coulee Dam, all sorts of odd end jobs

[@BigHenFor]

Sorry but the 2009 Crash kicks the 1929 Depression into a cocked hat in terms of the real - net of inflation - value of wealth lost. What is different this time around is that after 1929 there was a reset of the financial system. After 2009 there was not, and a decade later the World Economy is no longer working for the people outside the top 10%.

[@protatoplaysgames6918]

@@BigHenFor I'm going to have to look into that more. To be fair I'm only 24 and we did pretty well during those times fortunately

[@protatoplaysgames6918]

@@BigHenForI do see what you're saying I haven't got a chance to learn much about it because while schools are teaching about the great depression they never mentioned the depression we were in 💔

[@georgierose8480]

Can you cover the Delorean car company? And how it's founder got charged and then acquitted of trafficking?

[@timothyneiswander3151]

Oh yeah! I forgot about this. They said he was transporting cocaine in the trucks of his cars. That started the joke: Delorean owners...check your truck to find your rebate.

[@EclecticDD]

The DeLorean case was entrapment and that is why he was acquitted. He was offered to sell drugs to save his business. He did not go out actively seeking to do so.

[@613aristocrat]

They supported the Groucho Marx talk/game show You Bet Your Life basically its whole run.

[@rickc2102]

Im still trying to figure out if Business Blaze is Simon at the beginning of the day and full of energy, or Simon at the end of the day after having been broken by it. 😂

[@anewspinonthings]

Rick C lol right it’s quite the contrast. I like it

[@garethbaus5471]

I am guessing it is more simmilar to how he acts normally and probably how he rehearses for his other presentations.

[@stevehill4615]

I think it's at the end after all the coffee and 2 fat lines of Colombian flake

[@CalebSpears1]

He’s mentioned filming these early in the morning

[@chesh1rek1tten]

Is at the start of day because the shop next door opens at 11 am and then he can't shout anymore and records the quieter clips

[@sagesheahan6732]

I wondered what a Felony was myself. Just read this on Wiki: COPY/PASTE The term felony originated from English common law (from the French medieval word "félonie"), to describe an offense that resulted in the confiscation of a convicted person's land and goods, to which additional punishments including capital punishment could be added.[1] Other crimes were called misdemeanors. A felony is traditionally considered a crime of high seriousness, whereas a misdemeanor is regarded as less serious.[2] A felon is a person who has committed a felony. Following conviction of a felony in a court of law, a person may be described as a convicted felon. Some common law countries and jurisdictions no longer classify crimes as felonies or misdemeanors and instead use other distinctions, such as by classifying serious crimes as indictable offences and less serious crimes as summary offences. In the United States, where the felony/misdemeanor distinction is still widely applied, the federal government defines a felony as a crime punishable by death or imprisonment in excess of one year. If punishable by exactly one year or less, it is classified as a misdemeanor. The classification is based upon a crime's potential sentence, so a crime remains classified as a felony even if a defendant receives a sentence of less than a year of incarceration.[3] Individual states may classify crimes by other factors, such as seriousness or context. In some civil law, such as Italy and Spain, the term delict is used to describe serious offenses, a category similar to common law felony. In other nations, such as Germany, France, Belgium, and Switzerland, more serious offenses are described as crimes and misdemeanors or delicts (or délits) are less serious. In still others (such as Brazil and Portugal), crimes and delicts are synonymous (more serious) and are opposed to contraventions (less serious).

[@seraphina985]

The UK no longer uses the term however the fundamental distinction still exists as the origin of the terms in English common law was that a felony was a crime which could only be tried by inditement and a misdemeanour was a crime which could be tried summarily, there are also crimes that can be tried either way depending on circumstances so-called either-way offences. Both forms continue as magistrates courts deal with summary convictions and the crown court deals with indictments, the latter also has significantly greater sentencing powers (Thus why either-way offences exist, the circumstances dictate whether the sentencing powers of the crown court are likely to be necessary or not as a magistrate can only issue a sentence of up to 12 months in prison total and only 6 months for any single offence). The US similarly has offences in such a grey area which can result in either a misdemeanour or felony conviction depending on the specific circumstances of the offence.

[@ConservatEV]

Seraphina That’s true, the specifics matter. I work in the paperwork side of law enforcement and one of the things I do is send warrantbrequesta to the prosecutor. Say you go into the hospital and bust up a ceiling tile, that’s Malicious Destruction of Public Property but it’s inexpensive so that would go over as a misdemeanor. Say you instead stole an entire drug cart... that’s a felony. Or at least it would be requested as a felony... the prosecutor can (and often does) charge a lower offense. Why? To get you to plea to a misdemeanor and get probation only and it’ll probably be wiped from your record if you successfully complete said probation. The goal is to avoid court and incarceration, those are expensive. So we request the highest charges we can (we want the dirtbags off the street and away from the good citizens who pay us to protect them) but the criteria is different for prosecutors/courts who will try to get a plea deal to a lesser charge (a misdemeanor instead of a felony... so the larceny may become retail fraud, shoplifting basically, which is a misdemeanor.) You have to do something rather heinous to get serious jail time, that or have so many priors that you obviously aren’t learning your lesson and have to go away for awhile.

[@briancrawford8751]

@@ConservatEV Where I live, they file every charge they can and try to get the longest sentence possible.

[@DFX2KX]

@@briancrawford8751 Some areas are like that. It depends on the incarceration situation and the particular flavor of Prosecutor you've got.

[@stephanierando3477]

For crimes such as theft whether it is a felony or misdemeanor is based on the value of the item stolen. For a cheap 5 dollar watch its a misdemeanor, for a fancy Rolex its Grand Theft and a felony.

[@_Abjuranax_]

On a similar note; Henry Ford let it slip that he would be stepping down as the head of Ford Motor Company, and that his son Edsel, with dubious qualifications, would be taking over the reins of power. Needless to say, the price of Ford stock plummeted, and old Henry was able to swoop in and regain a majority interest of stock in his own company, from which he decided to not step down from after all.

[@--enyo--]

C Ray Starling That is interesting

[@moogle68]

So, does that mean he didn't get accused/convicted of insider trading because he took steps to ensure that the info he leaked didn't end up coming true? That's a really interesting case, but from a moral perspective (if it was all planned from the start) it is clearly wrong, and should be illegal. It just seems like a case that would be unclear from a strictly legal perspective.

[@_Abjuranax_]

@@moogle68 I believe in part, that because of this case, insider trading eventually became illegal.

[@briancrawford8751]

I had a roommate in grad school who went to a party at Martha Stewart's house. He said she could really put away the gin.

[@rawr51919]

What if she actually _did_ put away the gin? As in she took it for herself?

[@flowertrue]

Woo! Party at Martha's! Get out the scissors and glue gun! We're gonna do some drunk crafting! sounds like my kind of party.

[@--enyo--]

Out of curiosity, how did they wind up at a party at Martha Stewart’s house?

[@briancrawford8751]

@@--enyo-- My roommate was related to one of her neighbors.

[@artistwithouttalent]

10:39 Happily! Misdemeanors and felonies are only differentiated by how serious the crime is deigned to be (and more importantly, the sentence that can be carried out in the instance of conviction; misdemeanors are punishable by fines normally, but can include a prison sentence up to one year, while felonies include heavier fines and prison sentences longer than one year.)

[@Relgar47]

Simon Whistler on the 1929 Wall Street Crash: "It could be fun" Narrator: "It was not"

[@todddougherty9492]

I love when Snoop said “You know what we call insider trading on the streets? A HOOK UP!!!!!!!!😂🤣

[@sleepysartorialist]

Felony means it’s a severe offense and it isn’t just a federal designation. Traffic fine? Misdemeanor. Assault and/or battery? Felony.

[@tristanculpepper5627]

You also lose your right to vote or own firearms

[@johnbradley1139]

Simple assault and/or battery is usually a misdemeanor. Aggravated assault and or battery is generally a felony.

[@EclecticDD]

@@tristanculpepper5627 Depends on the state as far as the right to vote goes.

[@bsadewitz]

Many motor vehicle offenses are code infractions, not misdemeanors.

[@JohnWhite-up9gg]

Speculation is that one of the reasons Martha Stewart got such a stiff sentence is that in a previous life she was a licensed stockbroker and, therefore, knew very well what was insider trading and what was not. Also, stockbrokers, for the most part, aren't investment advisors. They just place your trades with the stock exchanges.

[@brainblaze6526]

Super interesting, didn't know that.

[@cbandtheradio5610]

Simon and crew! There's two types of laws in America: Federal Law, and State Law. Federal Law covers the entire 50 states as a whole, whereas State Law covers a single U.S. state. That's why the alcohol percentage in Utah is lower than the rest of the nation. It's why marijuana is legal in SOME states, and illegal in others. The same can be said for same sex marriage as well. Different states prosecute the same laws differently, and Federal Crimes USUALLY mean the big scary prison system, and not the quaint local jail system. The best part about this system is going to be comments arguing about it ha! These systems create different laws in different parts of the same country. Which inevitably leads to different beliefs and interpretations of those laws. Which is why everyone over here in the US gets along, agrees, and is completely content and happy! Haha! Hope that helps a little. Love your guys videos, keep it up!

[@joefox9875]

Martha Stewart was convicted of federal crimes, but that's not what makes her a felon. Felonies are serious crimes. They are often prosecuted by the state (e.g. murders).

[@starscream548]

You guys should do a video on the virtual boy from Nintendo and actually have Simon play it on the show

[@timothyneiswander3151]

I bought one of these on the cheap when stores were trying to unload them. Some of the games are actually really fun to play and the 3D was pretty good. It gives me headaches if I play it more than 15 minutes. Which is common. The VB was rare for awhile and the price went up. The price dropped when someone found a shipping container full of them and flooded the market. I play the games on an emulator now. You have to wear the red and blue lens 3D glasses but you don't get headaches.

[@databanks]

Puke bucket and pain killers on standby? I heard they induce both migraines and nausea

[@aceofspades9503]

@@databanks I haven't played one, but my understanding is that a lot of the problems were from the crappy stand that forced you into an awkward position while playing- shoulders hunched, that sort of thing. Supposedly the 3D itself wasn't that bad. From the videos I have watched about the virtual boy, the developers were forced to release it long before they felt the system was ready. The original fully developed concept was supposed to be much more like what we would consider a normal VR headset today- something you strap onto your head. It would be neat if someone would adapt those games to a newer headset.

[@jenniferhof9448]

The fact that Simon mentions the Federal prison near my hometown so casually is somewhat mind boggling to me!

[@seanjones1346]

Yes. The 1929 Wall Street Crash.

[@kingfuzzy2]

Yes!!

[@macmcelveen1241]

From the legends

[@fatcat6984]

Ahhh! The bell didn’t tell me about this post.... great script as always Danny!!!

[@brainblaze6526]

Even the bell doesn't work now? Ahhh, shame.

[@hopegold883]

This really is a good channel. I put off watching this vid because I’ve already heard everything I want to about this. But still. When I finally clicked,even though there wasn’t any new info, I found the video so interesting I watched all the way to the end, and even backed up a couple times to not miss points.

[@leowulf4526]

9:04 is especially funny watching this in feb 2021, after the gamestop short turned wallstreet on its head with the shortsell hedgefunds

[@RynBader]

a felony is a category of crimes that are often classified as the most serious type of offenses. Felonies can be either violent or nonviolent.

[@mr.skrywer7983]

How many scripts have Danny written at this point?! 😂 That dude is stuck to his computer! Haha, keep up the good work, great vids!

[@DannySalter]

A computer? They don't let me use a computer!

[@mr.skrywer7983]

@@DannySalter ... In that case, you are the master of whatsapp texts. 🤣

[@jennylawrenson1712]

I think Simon has Danny is shackled to his typewriter in a dungeon somewhere, just churning out those scripts 😂 Keep 'em coming!

[@doranconall9995]

@@jennylawrenson1712 i agree...Simon is in eastern europe....i saw hostel 2....

[@theangryaustralian7624]

@@DannySalter the actual legend himself I for one salute you and your handwritten scripts...include more funny memes for Simon his laughter is... hypnotic

[@keelwakamar]

Thank you Danny for the great script!

[@kingtommyDotCom]

I can't stop hearing "WELCOME TO BUSINESS PLAYS!" and it appears to be some sort of weird business deal making shoutcast by Simon Whistler. I'd still watch the hell out of that.

[@angelitabecerra]

Used to love watching her show growing up. Mostly because I'm into interior decorating and her show was the only one out cheap ass cable played. You were correct regarding a felony here in America. You're breaking a national law vs a state or local law (which can include either county or city laws). The government doesn't look too kindly on their laws being broken. Hence why committing a felony is a lot worse and can result in chronic unemployment and homelessness. As some employers will hire past criminals, but rarely felons. Also, felons have their voting rights revoked, and sometimes their privilege to a license. These loss of rights/privileges can be temporary or for life. Break a federal law at your own risk (well, any law really).

[@PunkRockStreetRacer]

I once worked at a printing company where apparently some former employees got in trouble for, or at least I think it was as it's been like 15 years, insider trading. As we printed magazines we had access to information before it was technically public and they bought stocks and then sold it after the trade magazine had shipped and thus, gone public. Or at least that's how the story they told new employees back then went.

[@reidwallace4258]

"The stock market crash, I don't know much about it, could be fun..." Something tells me the great depression would disagree.

[@AnnoyingNewslettersPage6]

Adjusted for inflation, $4,000,000.00 in 1929 is equal to $58,767,953.22 in 2019.

[@Markle2k]

Brilliant presentation. Felony is basically what the law says it is, worse than a misdemeanor. Often that means a potential sentence of greater than a year, whereas a misdemeanor is less than that. But sometimes felons get nothing more than time served and a substantial fine and considerable community service obligations. A felony vs. misdemeanor can also severely restrict your participation in your democracy by curtailing your ability to vote until your obligation to society has been satisfied, for example.

[@scottkirby5016]

Thank you Sam...."like Simon's head" had me in stitches

[@stevenwallace773]

In the US, misdemeanors are small crimes from running a stop sign up to petty theft, felonies are bigger crimes from repeat offender DUI's up to murder.

[@damiensadventure]

Oh hell yeah!!! Martha Stewart + Biz Blaze = Holy Crap Yes!!!

[@brainblaze6526]

Dream team

[@snorlax6691]

The Wall Street Crash would be great! I also thought the Enron scandal would be perfect for this channel. I don’t know if anyone’s mentioned that before, but I’d love to see you talk through it.

[@scottlemiere2024]

A felony in general is any crime with a sentence longer than a year and a day.

[@exexpat11]

A more apt question is "Why is it Legal for Members of Congress?".

[@GeorgeVCohea-dw7ou]

It is not, or at least, we will soon know for sure. Sen. Burr is a jerk either way.

[@donbrunodelamancha1927]

Master Simon, my man, you know I hold you in Very High Regard and Esteem. So much so that you have displaced my #1 favorite KZbin Personality and usurped that spot. You, Master Simon, now stand at the mountain top, a conqueror. Given that, how is it that TODAY, Friday, 10 January 2020, is the VERY FIRST TIME I learn this amazing channel exists⁉️⁉️⁉️🥺🥺🥺 I won’t go so far as to say I feel betrayed, but my feeling are hurt. I’ve even shed several tears.... I do not cry lightly. I C O N G R A T U L A T I O N S‼️‼️‼️ I L♥️VE the concept, it is BRILLIANT‼️ In many ways we think similarly. I fancy myself an eloquent writer, should you ever need a pinch hitter, 2 taps to the brim of your cap, the 2 fingers 3 times from the crease of you arm to your thumb, left side, the pull twice on right ear, brush your nose twice with your left thumb from the left side, then clap. Them I’m up. The best part is my fee is your smile of satisfaction‼️ At any rate, you my friend are a VERY busy man. On taking over FIRST PLACE in my gallery of KZbin Personalities, Bravissimo‼️ Much L♥️VE to You, you Lovely Lady and the Whole of Team Simon, and the Lord Bless and Keep you as resilient, curious, open to learn everything and passionate about your work‼️‼️‼️♥️♥️♥️✊🏼✊🏼✊🏼💯💯💯🙆🏻‍♂️🙆🏻‍♂️🙆🏻‍♂️🇨🇿🇨🇿🇨🇿📖📖📖🏛🏛🏛🥃🥃🥃 Ps. My grandmother’s family came to México with Maximilian. That did not end well. No one was killed, tortured or imprisoned, but they lost. E V E R Y T H I N G‼️

[@seansmith5955]

Hey Simon, you guys should do a video on the burger chain in-n-out. If you didnt know they have a cult following here in the US and even more so on the weat coast. You can go over company history and why they are so slow to expand east. Their employees are paid much better than other fastfood places so much so that store managers make over 100k. Just to be a burger cook for them is a 6 month training process

[@pgoeds7420]

When I've either been employed or contracted at a bank there's been a bunch of rules about no options, no shorting, no trading the bank's shares during "close periods" and additional restrictions on particularly sensitive roles (although I couldn't find these well-defined I assume it centres on people with the quarterly results prior to publication). Plus some requirements for you to notify a compliance department of your trades and maybe even quarterly statements from brokers where you have an account that hasn't traded. They have tons of rules about data security of the bank's data but perhaps nothing good for your sensitive data in the hands of compliance. So I've stopped working in such places.

[@yelram6698]

Just sitting here picturing myself drinking a Blantons neat, basking in my amazing "What the hell Danny?!?" shirt that still sadly doesn't exist.

[@Maqar06]

I have enjoyed and subscribed to a few of your other channels but this is by far the most entertaining. I will be wracking my brain to think of a topic to submit!

[@cebapplejak5997]

Simon, the US has three different prison systems. County, State, and Federal. County is usually a privately owned, short term sentence and pretrial battle. It's usually a maximum security level 3-4. State is longer termed sentences and lifers. Usually considered better time because you can order a tv to have inside your cell instead of just out on the unit. Federal is when your case is pursued by the federal government instead of by just the state. They're usually more high in prison and is also considered the best type of time to do. But it also usually has a minimum sentence of 60 months.

[@SonjaPierce]

Well done as usual, gentlemen. Samuel, another hilarious job with your tidbits. You guys rock. 😂

[@lostbutfreesoul]

Short Selling Shares is a lot more complex then that, and it should *not* be legal. I recommend doing a whole episode on the process so more people can understand why it shouldn't be legal. For those curious: The investor "borrows" someone else's shares, sometimes without the owner knowing, and sell those. Then, after the price drops, they purchase replacement shares to return to the portfolio.... This is why a raising price is bad, as the investor *must* return those shares for they didn't originally own them!

[@catjohnson2522]

I love you guys & allllll of the channels you have. I have my own office, so unless I am on the phone with a client or vendor, it's silent (other than the sound of my heater) so when I came across the Top Tenz & your other channels, I was stoked to learn something new. I swear if it weren't for you I would have died 3 years ago at work from boredom lol

[@davidhancox6946]

What about Sir Clive Sinclair? made millions in computers then lost it all with a 3 wheel electric car and was held up to public ridicule.

[@JT-cloverbottomt]

Simon, A felon is someone convicted of a felony at the state or federal level. A felony is a class of charge against someone that is more serious than a “misdemeanor.” A felony typically means: 1) a more serious crime, and 2) prison time. (For example a young lady was running from police in October and hit my wife’s car that we were driving and then she continued to run. She is charged with 2 counts of felony evading police, 1 count of leaving the scene of an accident with injuries {my wife and myself}, and 1 count of reckless endangerment. Yes she’s going to spend time in jail but it won’t help either my wife or myself. She’s just 21, btw.) Also, I learned a lot about the crash in Mgmt school - but you should definitely do a video on it. It would be interesting to get your view of it. Love the channel! Thank you! MLLHR!

[@uncle_thulhu]

Some companies give shares as part of a salary package.

[@xiaoxiaostickguy]

It is kind of nerve-racking for perhaps some lower rung employee with some stake in the company. If I was that person, and maybe I was a friend with a manager and they spill some knowledge like "Man, that deal didn't go through... we're about to lose a lot of money because of this...", it seems like a terrible situation for me as a pencil pusher to either risk saving my investment or just let my money get flushed down the toilet as the stocks plummet. I get why they give such harsh penalties for those particularly rich folk with massive amounts of shares and their decisions can have a much bigger impact on the company, but it makes me worry for the lower-level employees who just wanna pay off their houses or something.

[@ericstamps4717]

Many people confuse felony for federal crime. In the US, a felony is a crime punishable by death or imprisonment for more than 1 year. Crimes with lower punishments are misdemeanors or violations (these are usually for traffic stuff). There are state level felonies, but I'm not sure if there are federal level misdemeanors.

[@adamkimara6919]

The easiest way to understand short-selling is that it's like a short-term loan but you're borrowing a certain number of stocks rather than a certain amount of money, so when the time period ends you have to return the same number of stocks you borrowed

[@Westcoastadventurer]

There used to be a sign on the side of the highway in Vancouver Canada 🇨🇦 and it said “FREE MARTHA” lol

[@fa1640]

I can’t help but notice his empty coffee cup. He sets it down, and picks it back up. Empty. 😂 🙃

[@badluck5647]

I would like to your take on the HUGE value drop in beanie babies. The CEO made billions by convincing people that they were collectables that will continue to grow in value, when in reality, a pawn shop wouldn't even take one for a few dollars.

[@loneriot]

Felonies are usually major violations of the law, misdemeanors are minor violations of the law, but we do have a third option besides felony and misdemeanor here in the United State. Infractions. Infractions are typically the least serious of crimes. They almost never result in jail time, usually just resulting in a fine. For example, traffic violations are usually infractions rather than misdemeanors. However, drunk driving with a low BAC could be a misdemeanor, however if you say had your kids in the car, or a higher BAC, it would likely be a felony

[@orionspero560]

There is a major breaking US laws between a relatively minor crimes that arm not eligible for prison terms of a year or greater, and felonies which or generally a year or greater as a typical sentence. The other 2 categories are misdemeanors which are generally probation but can result in up to a year in jail, and violations which are generally fines but can have such qusi probation elements as community service

[@derekwhittom1639]

A few points in the US. If someone at XYZ company tells you that a deal didn't go through, but this is not public knowledge, that does not necessarily cause you to violate Insider Trading laws if you yourself then benefit. For example: I work at XYZ corporation as a telecom engineer. My coworker just stormed out of a meeting. I ask her what happened, and she tells me the deal with ABC corp just blew up. I then pass along this gossip to my father, who runs a hedge fund. I haven't broken any laws, and neither has he. 1) Insider Information is not information that is not public, it is information that is non-public, which has a subtle difference. Public information is information everyone has access to. Non-public information is information that only insiders have access to. But there is information that not everyone has access to (e.g. ABC corp calling me and telling me the deal crapped out with XYZ corp), which is not non-public information, though it is not public information. 2) I must have a reasonable suspicion to believe that the direct source of the information violated a fiduciary duty, which is not the case in my example above (though it is in Martha Stewart's case) 3) I must use this stolen non-public information to profit with respect to the company it is sourced from. When George from ABC corp tells me the deal with XYZ corp fell through, it might be illegal insider trading if I used that information to buy ABC corp, but it isn't if I used it to sell XYZ corp. Also, though it varies from state to state, a felony is typically any crime which carries a statutory penalty of more than 365 days or I thin $5000 fine, it doesn't mean 'federal'.

[@kayleighlehrman9566]

I think it would be fun to see you go over the major recessions that came before the Great Depression

[@georgemarsden4226]

3:00 No ! How did you pass business school? A very common way to motivate employees is profit sharing. One of the most common ways of doing this is by giving them shares in the company.

[@beagleissleeping5359]

Martha Stewart did time in a place nicknamed Camp Cupcake.🤣

[@ms8studios157]

A felony is a high crime but it can be a state crime as well. State felonies are mostly the same as federal felonies, but are different from misdemeanors in the punishment.

[@steeljawX]

Simon. You're asking a lot from us in the US to explain that one. I've looked over the comments and the difference between felony, crime, and misdemeanor is pretty well covered. But with federal and state "crimes", it comes down to federal and state laws. Often times, state laws are either unique to the state or are refined versions of broad federal laws. The federal laws are kept very general to allow states to govern themselves as they see fit, but still keep some sense of order (or illusion at least). So there can often times be cases where one could press charges on both a state and federal level due to the laws overlapping in context, but usually the courts will only allow one or the other due to it being needlessly excessive. I'd say the real problem comes in when a criminal rampages through multiple states. It then comes down to who gets ultimate jurisdiction? The state of their birth? The state they started their crime spree from? The state where they were caught? The state most affected? The federal courts? Those things can become a fuster cluck. But that's just my simple perspective on it. I'm no legal expert or educator of law. So...take all of this with a boulder of rock salt and any corrections.

[@teethgrinder83]

I'd like to hear about the wall St crash for sure and maybe you could do a vid on "Black Wall St", in Tulsa, I don't know much about it except for the awful riot there

[@Nirrrina]

I recently heard they may have found some mass graves from that event. I'm not sure if they used ground penetrating radar or just records but they some leads. Unfortunately some of the land where they need to continue researching is in private hands. So they have to get permission for some of it. Strangely enough im pretty sure the cemetery they were talking about is the one I regularly pass by.

[@hilarymol6607]

You did an episode on one of the most hated men, Pharma Boy. How about doing an episode of the biggest drug fails? (ad campaign fails, unexpected and terrible side effects, etc)

[@PassiveSmoking]

The market crash would be an interesting one to do. As people got around on ships in those days there's some great stories about people on ocean liners rushing the purser's office when news of the crash broke to get wireless messages to sell all their stock out, only the messages couldn't get out in time due to sheer volume of traffic. Hundreds of people boarded transatlantic liners millionaires and disembarked at the other side destitute.

[@naomiseraphina9718]

Hello, Simon, Danny and Sam, and thank you for the many hours of entertainment your channel has given to my potentially dreary workdays! I have a suggestion/request for a future episode: The continued practice of whaling by certain nations (Japan for sure, and I think... Norway? Possibly others?) Maybe it's too dark a topic for this channel, but I can imagine that a lot of black comedy could be found, and I think the issue is interesting. Why does whaling continue when nearly the whole world agrees that it's terrible? Who are the corporate players behind these whaling fleets, and to what extent have they bribed their respective governments? How were the majority of the world's whaling companies shut down originally? Finally, is there anything we little people of the world can do to help to destroy the remaining whaling fleets? Thanks for considering this! I understand if it's too heavy for Business Blaze. It was just a thought. --N

[@currykingwurst6393]

I'd love to see a video about Germany's hyperinflation in 1923. I'm technically a multi-billionaire because of that.

[@maiaallman4635]

That would be very interesting.

[@deaankoekemoer5471]

Laughed so lekka in this one omfg thanks bro

[@brainblaze6526]

glad you liked it :)

[@chrisj197438]

Congressmen and senators are exempt from the law about insider trading

[@nicholascropp5631]

I enjoy this format much better! Your hilarious Simon and seem to be having fun keep up the great work!

[@brainblaze6526]

Thanks :)

[@ericdreblow8564]

After 1 1/2 years of Business Blaze... this is SOOOOOO sane and chill, compared to what this channel has become😂 (I really love the development und what Business Blaze is now btw)

[@silvervelvet8893]

Even higher level employees can actually buy shares in their own company - However, it has to be done through a specific way, where it is not only delayed, it is also strictly controlled by a third-party entity. It also needs to be *consistent*, so buying a ton of shares yourself is insider trading, but making a plan to buy a fixed amount of shares over a longer period of time, where the delay avoids any massive gains that might be due to insider information, is fine as long as it is handled by someone else who can keep track of it. There are companies that handle this, and involving lawyers is generally a good idea. I personally know a lot of insider information, but if I decide to throw in 1k a month into shares for the company I work at, and set up a plan for that with the right agencies, it would not be a problem. The key concern is the massive one-off transactions, and *especially* shorts. Nothing screams obvious insider trading as shorting the company you work at.

[@christalbot210]

Okay, I realize she did NOT go to jail for Insider Trading, but you saying you were okay with her being in "Club Fed" made me think of the following scenario: {Martha Stewart in a Super-Max Prison} {Big tough guy walks up to her} Prison Thug: Hey there little girl. What are you in for? Martha Stewart: Insider Trading. {Prison Thug's eyes go wide. He backs away warily until he's next to one of his friends} Prison Thug: Insider Trading?!! No way I'm messing with HER!!!! :-)

[@NajwaLaylah]

That "big tough guy" must be a (trans-) woman, or she wouldn't be in the same yard or unit as Martha Stewart.

[@christalbot210]

@@NajwaLaylah INSIDER TRADING, man! They couldn't keep her anywhere else! :-)

[@NajwaLaylah]

@@christalbot210 Har.

[@kaiying74]

I used to work for a Silicon Valley company who gave us stock options etc (the most I made out of them was enough for a new TV). The day before an all company conference call where they told us about redundancies the CEO & one of the VPs flipped ~$25m in options each. I always thought that was dodgy af.

[@AdmiralKleinStarfleetCommand]

A perfect example of Insider Trading is the money Trading Places. In fact, the movie is based on actual ways to beat the Stock Market that wasn't made illegal until the enactment of the "Eddie Murphy Rule" in 2010. Not kidding here. Google it or look up the movie on IMDB and read the trivia.

[@thatguy-pl8py]

How about one on Timothy Dexter? Its probably the oddest rags to riches stories I've read

[@millermonsterair]

felonies and misdemeanors are quite different. typically, a misdemeanor is always an arrestable thing. felonies are basically just "worse" type of crimes. for instance, in some places in the USA (STILL) its a misdemeanor to possess a small amount of personal use marijuana. odds are, if its first offense, the person wont even go to jail and many times, is thrown out of court. however, if you possess over, lets just say 1.5oz in this case, it gets upgraded to a felony. you are going to jail for that..... its hard to really explain but basically, felonies are worse than misdemeanors.. not always, but usually.

[@stanleyzabecki7821]

I LOVE your channel. You are an AMAZING host.

[@T00FAST4L0VE]

In the US criminal justice system there are misdemeanor crimes, felony crimes, and federal crimes which are also felonies. Being a "felon" only means you've been convicted of a felony. The label doesn't distinguish between whether or not it was a federal felony. - Your American Consultant

[@kevinmang6014]

Woah, Martha Stewart doing her time in Florence ADX in Colorado along with luminaries like Ted Kezinsky? Lmfao that's about the funniest thing ever!

[@cbartz5713]

There are different types of crimes in the us. Minor crimes are called misdemeanors, while major or high crimes are felonies. State and federal crimes can both be felonies or misdemeanors. The easy way to tell, do you go to jail or prison, jail is 364 days or less, 365 or more is prison. Most crimes are only state ones, the feds don’t usually get involved unless the crime involves actions taken in multiple states or crossing state lines.

[@lauraheyman2011]

1929 Wall Street Crash would be a great subject

[@eberronbruce1328]

Felony is a major crime like murder, blackmail, and tax evasion. A misdemeanor is a minor crime like speeding, penny theft, and being drunk in public. Federal usually involves felonies which usually go to prisons, while misdemeanors are usually more local and deal with jail, community service, or fines. But a felony can be local or at a state level. This is to the best of my understanding and I could be wrong.

[@johnstevenson9956]

If you watch "Rumpole Of The Bailey", there's an interesting episode on this subject called, "Rumpole And The Barrow Boy".

[@iron60bitch62]

Martha Stewart was not convicted for criminal insider trading charges, although she later had to pay $195,000 to settle a civil case with the Securities and Exchange Commission. In her criminal case, she was found guilty of conspiracy, obstruction of justice and lying to federal investigators in March 2004. The securities fraud charge (related to boosting the stock of her own company) was dismissed.

[@brainblaze6526]

Yep. That's what I say in the video.. :)

[@shelceygusek427]

A business blaze on the great stock market crash? Yes please.... [*searches for vid*]

[@aleckushmerek1757]

Oh shit, that's illegal?!?!?! Fuck!

[@audreymew7650]

Yeah but the UK and other EU countries have more stringent regulations regarding who gets to be at company's insiders' table! Like, some countries require that the worker-ants have a much broader access to information regarding a company's decision-makings. In america, all the richie-riches -- the CEOs -and-friends -- do everything behind closed doors. So, our "stricter" laws regarding insider trading haven't helped so much (certainly not as much as when it was just illegal).

[@KarynHill]

I’d like to hear about the 1929 stock market crash and also how the Lehman Brothers collapse affected the crash of 2008.

[@jhh1451]

Its the other way around lehman collapsed because of the 2008 crash. (even tho they played a part in why the market crashed since they Sold CDOs) Also most Banks collapsed, lehman just wasnt rescued and became the scapegoat. Funfact you can still buy lehman Stock bc not all legal procedings are finished

[@KarynHill]

@@jhh1451 I didn't say it caused it, I said I'd like to know how their collapse affected the crash. Did it make it worse? Have no real effect?

[@ericsundman1]

As someone who works in compliance at a large investment bank I have to deal with this shit every day and it’s mind boggling how many people don’t see an issue with trading in MNPI (material non public information)

[@theangryaustralian7624]

I don't understand why but Simon's the most funny on this channel

[@brainblaze6526]

Probably because it's supposed to be ;D

[@theangryaustralian7624]

@@brainblaze6526 it's pretty damn funny you ain't wrong lol

[@debbiefiuza]

"Be safe, don't invest." > Great advice! /s

[@roberrplatt4214]

When Martha was a student at Barnard College, a National Guard unit voted her Sweetheart of the Regiment.

[@ayanab.2887]

A felony isn't exclusively federal. It's a level of offense. Misdemeanors are lower level (trespassing, some thefts, simple battery) and felonies are higher level (armed robbery, kidnapping, manslaughter).

[@BTFOOMNY]

Michael Douglas, Charlie SHEEN and Martin SHEEN in "Wall Street". The movie was about insider trading.

[@brainblaze6526]

Thank you for capitalising SHEEN. I would have been confused otherwise.

[@BTFOOMNY]

@@brainblaze6526 Although I am sure many of your viewers are sophisticated, intelligent, educated individuals, I am sure that there are some out there who look at those names and wonder if it's some cute coincidence. Personally, I thought it made the characters playing father and son a bit more appealing, knowing that they actually are father and son. I would not be a subscriber to Business Blaze, Today I Found Out, Geographics and Biographics if I thought Sheen needed to capitalized for you, personally. Yours are four of my favorite channels. The research, editing and presentation are extremely entertaining, even when the subject matter might, otherwise, not be. And, of course, none of them would be close to as entertaining without the narrator. It's like the difference between the high school history teacher who reads from the book, and the teacher who acts out historical parts. Just remember, unless I begin the sentence with "Simon, ", the comment is intended for everyone else. (BTW, I am also a big fan of "The History Guy" channel, because he is another narrator who can make paint drying interesting.) THANK YOU.

[@Atarijmike77]

14 min blaze? hmm... m just gonna put it out there that i prefer the longer ones

[@QueenOfSh3ba]

Another 'Danny' script........ happy :)

[@DannySalter]

Thanks Amanda! :)

[@spacepeanut8993]

Danny and Simon crack me up!

[@sagesheahan6732]

@@DannySalter Dude. Between you and Simon, make a damn comedy channel. 👍

[@QueenOfSh3ba]

@@sagesheahan6732 Totally! It's a reflection of how well BB works as a channel.