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Who Will Be Next In The Dock?
Every day, it seems, another “insider-trading” defendant is hauled before the courts or sentenced to prison. In fact, many of these “insider traders” are not insiders at all. They are merely people who have acquired information from insiders.
Yet the business community either clucks its approval of their being sent to prison for years, or it says nothing.
I can understand that insiders—top corporate executives (like Robert Moffat Jr. of IBM), pledged to keep corporate information secret—should not talk about corporate secrets to others (as Moffat talked to his mistress, Danielle Chiesi). And those who do talk should be disciplined by their companies: reprimanded, perhaps fired, perhaps even sued if there are provable damages.