Jim Cramer suggests Snapchat is used for insider trading
July 19 , 2013
CNBC's Jim Cramer implies that Wall Street bankers use Snapchat for insider trading. Cramer spoke to US Attorney, Bharara about Snapchat, the app that lets people send self-destructing photos and Bharara claimed to have no idea regarding what he was talking about. Although he was ignorant of the app, Bharara said that nobody should feel safe because they're using a particular method of communication, as reported by CNET.
Wall Street's worries regarding Snapchat revolve around the possibility of "bad people" being able to escape legal consequences.