‘Hundreds’ of Fed Employees Knew of Medicare Action at Heart of Trading-Spike Probe
Via Washington Post:
Wow. DOJ is going to be busy looking for who leaked this insider information.
Hundreds of federal employees were given advance word of a Medicare decision worth billions of dollars to private insurers in the weeks before the official announcement, a period when trading in the shares of those firms spiked.
The surge of trading in Humana’s and other private health insurers’ stock before the April 1 announcement already has prompted the Justice Department and the Securities and Exchange Commission to investigate whether Wall Street investors had advance access to inside information about the then-confidential Medicare funding plan. . .
- Greg Pollowitz