Roger Lowenstein has a big piece in the New York Times Sunday Magazine that’s just popped up online. It concerns the upcoming insider trading sentencings that are sure to raise an eyebrow or two on and off The Street. The big question is, how much time should the Raj’s of the world do in prison now that we’ve decided that they are definitively criminals.
Is insider trading merely an illicit version of a common American cleverness, trading on gossip from a colleague or friend that helps the trader and hurts no one? Or is it the quintessential Wall Street crime, one that has undermined Americans’ faith in the markets?
I’ll be consuming this one at lunchtime.