2 ms·
No, insider trading is clearly not 'a middle class person profiting in a way the ruling class don't like' - it's using information you have that most of the mar
by idiotsecant 4y ago
No, insider trading is clearly not 'a middle class person profiting in a way the ruling class don't like' - it's using information you have that most of the market doesn't in order to take money from them. The answer to wealthy people being able to get away with insider trading easier is not to throw the baby out with the bathwater and say that all insider trading is fine, it's to actually enforce insider trading laws. It's not some impossible task to do a better job enforcing those rules, it's just not popular with the people who (shocking) make money by exploiting this kind of information asymmetry. If we decided to make it a policy priority tomorrow, the problem would be much, much smaller.
- c7DJTLrn 4y agoInsider trading laws don't mean anything. Person X can send encrypted messages to person Y who lives half way around the world to make a trade and they will be near impossible to discover unless person X is surveilled. Even then, person Y can just get away with it.
- mtoner23 4y agoJust because you can get away with a crime doesnt mean its not a real crime
- c7DJTLrn 4y agoThat's not my point. Insider trading is so easy that anybody with privileged information can do it and even get away with it if they're cautious. Instead of working tirelessly just to catch the sloppy 1% we should reform the market so that nobody has an advantage because of what they know.
- bornfreddy 4y agoSure. Any idea how to do that?