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If you think that if everyone followed the "no one except the emperor can trade with privileged information" law then there is rule of law, then we have irrecon
by hayst4ck 4y ago
If you think that if everyone followed the "no one except the emperor can trade with privileged information" law then there is rule of law, then we have irreconcilable axioms in our belief systems and will never be able to see eye to eye.
- dragontamer 4y agoThat's not how the law was written. The law, as written, is that "Insiders" (aka: Officers, Board Members, etc. etc.), and those who those insiders talk to (ie: employees, family members, etc. etc.), are not allowed to trade on the information they know about. The law never considered Congressmen, who might know something because of their position. ------ The law, as written, is "X people, and people who talk to those X people, are not allowed to trade securities based on information they know about". Your characterization of "X people except the emperor" is blatantly wrong and fundamentally misunderstands how the law is written.
- hayst4ck 4y agoWhy do you think it is illegal (de jure illegal) for officers, board members, etc., etc. to trade on the information they know about? Why was that law written?