Insider Trading Act Of 1988
Categories: Investing, Stocks, Company Management, Ethics/Morals, Board of Directors
Everyone knows that if you make a huge bet on a roulette wheel, and it happens to stop at the exact moment it hits your number, well, you're probably cheating. And for a long time, everyone knew that people who had important information or "insider info" would probably be the first people to put their fingers into the proverbial roulette wheel to their own profit.
Well, that got out of hand.
The stakes became silly, making it to where any Joe Shmoe who happened to work in the right office building could suddenly own their own island nation if they made the right trade at the right time using insider information.
This act turned the previous slap-on-the-wrist into an orange jump-suit.