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Actually, lots of people and companies can legally trade on non-public information. See http://en.wikipedia.org/wiki/Insider_trading http://en.wikipedia.org/wi
by anamax 15y ago
Actually, lots of people and companies can legally trade on non-public information. See http://en.wikipedia.org/wiki/Insider_trading http://en.wikipedia.org/wiki/Insider_trading For example, it's not clear that Google can't trade stock based on what it observes its customers doing, even though that information is not public.
That said, Congress-critters are in a very different position. They're writing the rules. And, they keep claiming to be "public servants", so their use of non-public information should be at least as restricted as employees.
- sixtofour 15y agoI'm fine with it, but only if they reveal the information to the rest of us. We should be able to trade on the same information. Very roughly based on the idea that government information is public domain. <harumph />