Over at Above The Law, they are debating the question of whether insider traders should go to jail. One reason for sending people to jail is deterence. Matt Levine, the editor of DealBreaker, argues that deterrence makes sense, claiming that "[p]eople who work at hedge funds really don’t want to go to jail. Compared to their Greenwich homes, jail has worse food, more violence, and fewer golden retrievers."
True statement, and he finishes with:
"Also they get ordered around by people with less education than them, which is why they left BofA in the first place."
Is Bank of America so bad that it is now part of a running joke?
Read the whole article, it is a good discussion of the insider trading issue. DealBreaker Debate: Insider Trading Sentencing.
