Paulus Textor Wrote:
Nov 28, 2012 9:38 AM
Insider trading laws are great examples of vague thinking based on cartoon-like characterizations of the rich. Suppose, for example, you are riding an elevator and overhear two executives talking to each other about their business plans. You buy or sell stock based on that tidbit of information. Is that insider trading? Maybe yes, maybe no. There's no way to know, in advance, if you are breaking the law. If you have no way of knowing, in advance, the way in which a judge and jury will "interpret" a law, then you have a bad law.