Insider trading
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A great article in the Washington Times yesterday, which was news to me.
Stock or commodity trading on “inside information” has been illegal since the early 1960s. Yet there is one group that frequently has access to nonpublic information that can greatly affect stock prices, to the extent of making or breaking a company or even an industry, and these “insiders” are considered exempt from prosecution by the Securities and Exchange Commission (SEC). The insiders I refer to are members of Congress and their staffs. They have prior knowledge about which companies or industries will or will not be “bailed out,” have their taxes raised or lowered, be subject to costly new regulations or exempted from such regulations, receive government contracts, etc. However, because the members of Congress and their staffs do not obtain their information from employees of the companies affected, they are not considered insiders.
Read more here...
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