alt Hacker NewsOr just legalize it across the board recognizing that when only the powerful can make use of it. and we're not going to do anything about the powerful, we might as well let everyone else in on the game.
That is truly my cynical mindset at this point. The degree to which my trading is regulated is beyond absurd in a market and society where things like this are allowed to happen.
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How exactly would someone with no special access, knowledge or power get in on the game? Legalizing it across the board would just make things worse.
The biggest issue here is not insider trading itself, but the fact that (foreign) policy is being used for insider trading.
Think of the tariff madness of last year. The biggest issue wasn't that insider billionaires were robbing outsider billionaires. The bigger issue was the massive stress small businesses had to endure, who didn't know how they were going to survive.
Reminds me of a debate in college. I was in college during the baseball doping days in early/mid 2000s and gave a debate presentation that the only way to make it a fair sport is to allow it for everyone; basically there should be no rules. The class vehemently disagreed but purely on emotion, no solid defenses were made that I couldn’t counter with a simple logic rebuttal. In any case, I tend to agree with you. The laws are only on the books to make naive people feel like there money is being looked after and the asset values aren’t manipulated. Remove the laws and the layman is a skeptic by default as he should be.