|
It's a matter of who gets in first, which goes down to who your parents were and what genes you were born with. So the profits of Rene's trades should go to us all, given those on disability pension and who were trained as hydro-electric plant electricians don't get the information that Rene, Baillieu, Comsec or E trade receives. Not really. I would like to know if insider trading laws violate the principle of free speech. Granted, such actions may break contractual arrangements, but such trades involve someone else who actually wanted the shares and why should information asymmetry be attempted to beremoved in a world that is foreign to most people, has a high degree of information asymmetry, at the cost of a fundamental freedom? If they are going to be traded anyway, isn't it more efficient that it is done eariler? In the case of Martha Stewart selling her shares before they fell, it seems more like investors with hopes set too high on the drug Tsars of a conservative Government approving new treatments, but trying to scapegoat Martha. And what if the shares didn't fall? It's the intent that counts in criminal cases right? And what if stocks rise or fall for reasons other than insider information the stockholder acted on? It seems pretty much that ASIC or the US SEC can make up the accusations as they please. I find it laughable that given Martha Stewart's denail of insider trading, ImClone stock went up after it's inital USFDA/fundamentalist Christian induced fall, and this was interpreted by US Federal prosecutors as stock price manipulation. Why the stock market, and not foreign exchanges, money markets and real estate is made the object of being leveled into a playing field for even the most incompetent entepeneur by regulators is a mystery. Funnily enough, we have the RBA and preferred investment houses trading in stealth taxes, as dictated by policies that are understood by a select few in society, and only work in a very limited and uncontrolled manner. Through money supply and inflation, those with the education or insider knowledge could make millions in speculative investments. As mandated by law.
| 
