Apr
14
Blog post#13- class 20
April 14, 2015 | Leave a Comment
I’m very excited for the speaker to come in and speak about his experience on insider trading. Personally, I have not really followed the news of insider trading over the years. All I know is that certain people give knowledge to a certain part of the public that they were not supposed to. Thus, those people gain and the people on the inside gain from whatever the people on the outside gave to them in exchange.
According to the Wall Street on Parade article, “The message the Appeals Court might have been subtly sending to the DOJ and SEC is to stop casting their wide net at people four times removed from a crime scene and go after the real criminals on Wall Street whose past and current actions pose a real and pressing danger to the entire financial system.”
This reminds of an idea I learned in my public affairs class. The government has so many major problems in the United States, that focusing on the minor issues would not make such a big impact, overall. Like the example above, the United States government can not invest its time hunting down every individual who is on illegal drugs. It is just impossible to narrow all of them down. President Obama, however, would like police forces to go after murderers, terrorists, and other problems that require immediate attention. He does not dismiss the issue, he just puts it aside for now.
In my opinion, the New Economics Perspectives article was a bit more detailed than the other article. It went more in depth about how it happened, and gave a few more examples to go with it.
I do not believe insider trading is a “serious” issue compared to other issues we have discussed in class like income inequality and minimum wage, etc, although some may disagree with me. Insider trading is a very interesting topic because I know that people in our class may have differing opinions in them. All in all, I cannot wait for tomorrow’s in class guest speaker.
