In some respects, inside information is a form of financial steroid. It is unfair: it is offensive; it is unlawful; and it puts a black mark on the entire enterprise.
From Preet Bharara
Significant officials at publicly traded companies are casually and cavalierly engaged in insider trading. Because insider trading has as one of its elements communication, it doesn't take rocket science to realize it's nice to have the communication on tape.
Securities fraud generally and insider trading in particular should be eminently deterrable crimes.
I spoke bluntly about what I had seen in a little over a year as United States Attorney for the Southern District of New York. To the apparent surprise of many in the room, I observed publicly that insider trading appeared to be rampant.
We have witnessed the most educated, successful, and monied professionals in the country put their companies - not to mention their own liberty - at risk by engaging in flagrant and foolhardy illegal conduct.
History has shown that one cannot legislate a culture of integrity. And yet, one of the paramount responsibilities and challenges of corporate leadership is to ensure such a culture.
I don't eat green things, no vegetables.
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