In response to:

Legalize Insider Trading

I agree. Stossel's message is that if you put on a shirt and tie and sit behind a big desk then any and everything you do is by definition good, right, and moral, and if it isn't you should still be allowed to do it anyway because the laws against it are imperfect.
Dean197 Wrote: Nov 28, 2012 8:48 PM
The lack of enforcement perfection is not the basis of his reasoning that the laws should be repealed. Try reading the article again.
FlamingLiberalMultiCulturalist Wrote: Nov 28, 2012 4:21 PM
" He explained why the current laws are worse than useless."

As I read this article he has done no such thing. He has demonstrated that the current laws are not perfect, that they do not stop all insider trading. By Stossel's logic, we should get rid of all those silly laws against Rape and Murder, since those crimes still happen.

JustMC Wrote: Nov 28, 2012 2:02 PM
If you wish to refute what Mr. Stossel said with reasoning or explanation, have at it. So far, you have done nothing of the sort. He explained why the current laws are worse than useless. You have not expained in any way why he might be wrong.
Insider trading leads the news again, casting a cloud over Steven Cohen's SAC Capital Advisors $14 billion hedge fund.

The SEC charged Mathew Martoma, who used to manage a SAC Capital division, with using inside information about tests on an Alzheimer's drug to trade stock of the company working on it.

The media love this stuff. I imagine reporters sitting around saying: "The SEC finally will punish greedy Wall Street! These tycoons rig the game -- cheating is how they acquire $14 billion -- and now noble government prosecutors will bring justice."

But this is nonsense. Government prosecutors are as ruthless...