Call me a cynic, but I have to believe this goes on all the time. Friends talk. Employees of public companies talk at bars about what they are working on. Being

Call me a cynic, but I have to believe this goes on all the time. Friends talk. Employees of public companies talk at bars about what they are working on. Being successful in the stock market is all about news/information and how fast you can get it. In terms of what Phil did, why isn't this illegal? He knew the information he got was inside... He acted on the information... He made money, yet he get's no real punishment... "I promise I won't do that again."