There are US senators that make millions by using their spouses as intermediaries to buy and sell shares. Insider trading as a crime only exists for those that are not well connected enough
Those senators just trade on their own behalf because its not illegal to.
Why would they involve their spouse? If it was illegal for them to trade but their spouse made a trade it would be trivial for the SEC to trace it back to intel they learned.
You are right that enforcement is weak, but that is not because it is legal. The notion that members of Congress can legally trade on knowledge derived from or used in the performance of their duties has not been true for over a decade at this point.
infecto|1 year ago
chollida1|1 year ago
Why would they involve their spouse? If it was illegal for them to trade but their spouse made a trade it would be trivial for the SEC to trace it back to intel they learned.
crynom|1 year ago
You are right that enforcement is weak, but that is not because it is legal. The notion that members of Congress can legally trade on knowledge derived from or used in the performance of their duties has not been true for over a decade at this point.