In response to:

Legalize Insider Trading

Jerome49 Wrote: Nov 28, 2012 1:34 PM
Insider trading is legal John, if you are a member of the U.S. House or Senate. Not only do these politicians have access to inside information, they get to pass laws that will either help or hurt and industry or company. Look at the income of House and Senate members prior to being elected to their office and what their income is after they have been in office for a few terms. Their accumulated wealth after being elected to office hasn't come from their salaries. It has come from their investments. Are our elected officials that much smarter than the rest of the investment community?
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...