a barky dog

I beleeve also, that he proves the fortunate man, whose manner of proceeding meets with the quality of the time; and so likewise he unfortunate from whose course of proceeding the times differ: for we see that men, in the things that induce them to the end, (which every one propounds to himselfe, as glory and riches) proceed therein diversly; some with respects, others more bold, and rashly; one with violence, and th'other with cunning; the one with patience, th'other with its contrary; and every one of severall wayes may attaine thereto; we see also two very respective and wary men, the one come to his purpose, and th'other not; and in like maner two equally prosper, taking divers course; the one being wary the other head-strong; which proceeds from nothing else, but from the quality of the times, which agree, or not, with their proceedings.

Dirks was an investment analyst who learned from a former employee of Equity Funding that the company had been fraudulently manufacturing insurance policies. Dirks tipped several institutions which then liquidated $16 million in Equity Funding stock before the fraud was exposed and the bottom fell out of the market. According to the Court, Dirks was a hero for (eventually) exposing the fraud. The SEC's censure of Dirks for tipping inside information was reversed because, the Supreme Court held, the liability of a tippee derives from that of the tipper. If the tipper is without sin, so is the tippee. Here, the employee's purpose in informing Dirks was to expose the fraud, so the tipper breached no duty. Moreover, according to the Court, for there to be a breach of duty, there must be personal benefit (in the form of pecuniary gain or reputational benefit that will translate into future earnings) arising to the tipper from the disclosure.

Goods Traffic Grades #:: Lad Porter #:: … #:: Step 2—Porter Grade 1, Goods Shunter Class 4, Shunt Horse Driver, Numbertaker, Traffic Timekeeper, etc. #:: …