[rcme]

Insider trading is not a conspiracy. I think insider trading is bad, and the laws should be amended so that congress is forbidden from insider trading. But if the only “smoking gun” is insider trading then this is a non-issue. It’s legal for members of congress to trade with non-public information, and many members in both parties do it.

[prottog]

Clearly people find it distasteful when politicians do legal but immoral things. It's a non-issue legally speaking, but one wonders why this gaping source of misaligned incentives remains.

[rcme]

I agree. But it’s not something that requires a “special prosecutor to investigate the allegations”, which is the statement that started this conversation.

[astrange]

If the point of allowing trading is better price discovery, then banning insider trading doesn't make all that much sense, because the insiders are contributing information by improving the price.

(Also makes you wonder why analysts bother meeting with CEOs since the CEOs can't share non-public information.)