Dating Privilege & Working From Home Doesn’t Greenlight Insider Trading — Neither Should Running The Country

// We are in a new age; insider trading isn’t just the securities fraud violation various members of Congress have been caught committing — your coworkers are probably doing it too. There’s been a pick-up in the trend of folks who are making decisions with information they shouldn’t be privy to. Desperation to make an easy buck or one of the unexpected symptoms of Covid living? From WSJ:

“During Covid, there was an uptick in brazen conduct,” said Edward Imperatore, a defense lawyer at law firm Morrison & Foerster. “In a work-from-home environment, people acted with more impunity.”

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-top-300x250" ); });

There’s a way to read the increase in insider trading as “ah well, what can you do when you’re just hanging around each other all the time.” That is a bad way to read it. One of the traders actually bought a mouse jiggler to stop his girlfriend’s laptop from locking. That’s not happenstance — that’s premeditated. When someone goes that far out of their way to trade using private information at the expense of the public, they shouldn’t be getting slap-on-the-wrist treatment. That goes for the average person, but it is even more important when a person in a position of authority does this. I don’t know an exact number; let’s just eyeball it at 132 times more important:

Sponsored How to Achieve Quicker, More Valuable Case Settlements with Minimal Effort: A Guide for Personal Injury Lawyers We’re pleased to share the “Top 5 Things Carriers Are Looking for in Demands” — a guide authored by a lawyer with deep experience on… From EvenUp and Above The Law  

It’s ridiculous that crooks trading on inside information are still in Congress.

End the corruption. Ban congressional stock trading. https://t.co/jqDGP3rntf

— Chris Deluzio (@ChrisForPA) December 27, 2023

Imperatore is right to characterize the post-Covid conduct as brazen, but it is harder to find a bolder instance of insider trading than a congressman not only trading serially, but going on to say that if Congress people weren’t allowed to do so that it would cut back on the amount of people who want to serve.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-middle-300x250" ); }); googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-storycontent-440x100" ); }); googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-in-story-youtube-1x1" ); });

Love and Deceit: Work-From-Home Era Spawns ‘Pillow Talk’ Insider Trading [Wall Street Journal]

Sponsored Sponsored Introducing Lexis® Create – enhanced with Lexis+ AI The only fully integrated legal drafting solution. Lexis Create integrates Practical Guidance, Market Standards, Shepard's, AI-Powered Clause Intelligence, recommendations, and collaboration into drafting. From LexisNexis   Sponsored How 160 Legal Tech Decision-Makers Are Combating Cybersecurity Threats Do law firms recognize the gravity of the challenges they’re facing? From Arctic Wolf and Above The Law   Sponsored How Generative AI Is Disrupting Law Firm Billing Practices Amid legal landscape shifts, billing practices remain vital. With generative AI enabling faster, more efficient work, some law firms may adjust billing models accordingly. From LexisNexis   Sponsored How 160 Legal Tech Decision-Makers Are Combating Cybersecurity Threats Do law firms recognize the gravity of the challenges they’re facing? From Arctic Wolf and Above The Law  

Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s.  He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at [email protected] and by tweet at @WritesForRent.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-bottom-300x250" ); }); Sponsored Sponsored InterAction+ Brings Power Of CRM Software To Law Firms Of All Sizes The only legal CRM with exclusive content from LexisNexis®. From LexisNexis® InterAction+™   Sponsored How to Achieve Quicker, More Valuable Case Settlements with Minimal Effort: A Guide for Personal Injury Lawyers We’re pleased to share the “Top 5 Things Carriers Are Looking for in Demands” — a guide authored by a lawyer with deep experience on… From EvenUp and Above The Law   Topics

ATL Finance, Crime, Finance, Government, Insider Trading, Tommy Tuberville