I am not one of those who thinks insider trading out to be legalized. To the contrary, I have defended a prohibition of insider trading–if not the precise prohibition established by current law–as a necessary way of protecting corporate property rights in information…..
The current emphasis on attacking hedge funds and expert networks, however, strikes me as having the potential to chill legitimate market analysis.
via Are the feds overdoing insider trading prosecutions? — Professor Bainbridge
