Via The New York Times (H/T Phil's Stock World).
Both the Justice Department and the Securities and Exchange Commission have taken an increasingly aggressive — and public — stance in pursuing insider trading on Wall Street. Among the government officials taking the hardest line is Preet Bharara, the United States attorney in Manhattan.
“Illegal insider trading is rampant and may even be on the rise,” said Mr. Bharara in a speech last month. “Disturbingly, many of the people who are going to such lengths to obtain inside information for a trading advantage are already among the most advantaged, privileged and wealthy insiders in modern finance. But for them, material nonpublic information is akin to a performance-enhancing drug that provides the illegal ‘edge’ to outpace their rivals and make even more money.”
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