In response to:

Legalize Insider Trading

Sid14 Wrote: Nov 28, 2012 11:20 AM
Insider trading laws actually only protect the inside traders (like Congress and others) from competition from the rest of us. This is really no different than any other cartel monopoly.
Ms Kelly Wrote: Nov 28, 2012 7:52 PM
Allan60 Wrote: Nov 28, 2012 11:28 AM
Obviously it has become a big problem that the people can't count on the government to prosecute itself. This doesn't mean that the concept of insider trading laws is bad though.
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...