Are you under the impression that it is illegal for members of Congress to engage in insider trading, so therefore the absence of prosecution proves it is not a frequent occurrence?
SEC, that prosecutes insider trading, is a civil regulatory body and cannot send people to jail, which the article mentions for some odd reason. And I’d put the odds at 100:1 that any prosecutor in the SEC would love to go after a Congress person to further their career.
Lastly, not sure most are aware, insider trading is usually spotted by SECs internal AI/algo that is connected to all brokers, clearing houses, etc. they are very good at finding folks.
Edit: another thing that is missing from this discussion is the SEC awards a portion of the proceeds to the whistleblower of any case. I just can’t believe no one ratted out a Congress member for retirement money and all members are security masterminds.
SEC, that prosecutes insider trading, is a civil regulatory body and cannot send people to jail, which the article mentions for some odd reason. And I’d put the odds at 100:1 that any prosecutor in the SEC would love to go after a Congress person to further their career.
Lastly, not sure most are aware, insider trading is usually spotted by SECs internal AI/algo that is connected to all brokers, clearing houses, etc. they are very good at finding folks.
Edit: another thing that is missing from this discussion is the SEC awards a portion of the proceeds to the whistleblower of any case. I just can’t believe no one ratted out a Congress member for retirement money and all members are security masterminds.