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scrap insider-trading laws

Comment 3rd September 2010

There are laws concerning "insiders", those with access to confidential facts about a public company, and trades that they make in company stock.  The penalties are draconic. These laws should be scrapped.

Why does this matter?

The laws don't work. Insider trading goes on regardless. Only a tiny percentage of  "offenders" is caught, tried and convicted, and only at huge expense to the investigators and the courts (paid, as usual, by you and me). The rationalisation for these laws is dubious at best. It is the ultimate victimless crime, and should go.

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