Delta Systems Blog The Equifax of Life

In 2001, a renowned Australian banker learned about a forthcoming airline merger before the information became public. Based on this insider knowledge, the banker, Rene Rivkin, bought 50,000 shares in one of the companies, Qantas Airways.He earned about $2,600 on the sale. This is chump change in insider-trading circles, but it was, of course, still illegal. He was convicted and fined $30,000 and ordered to serve weekend jail time for 9 months.Rivkin was a successful entrepreneur, once named Stockbroker of the Year by Business Review Weekly. Smart people sometimes make stupid decisions.Which brings us to this year's Equifax breach.