Tuesday, November 15, 2011

Keeping Us in Darkness To Profit From the Light

Various members of congress have been taking advantage of their inside knowledge.

I believe all insider trading should be legal. The reason is simple- the fastest way to disperse knowledge is to give a high reward to the person who publicizes that knowledge. The market would be doing this naturally.

But there is Congress requiring everyone else to keep us in the dark, while it acts on whatever malevolence it dreams up. Tax, spend, run up debt, help their friends orchestrate Enron, Solyndra, and thousands more- and use their insider knowledge to snatch a little more money from the rest of us to boot. This isn't the same as an insider making a trade on his knowledge; this is conspiracy because the option to trade wouldn't exist if they hadn't conspired to make it happen in the first place. And none of their grand plans actually end up being profitable, either, so we lose twice over, and possible even forever as they declare their tragedies too big to fail and insist on taxing the crap out of our children to pay for their mistakes.

No comments: