OF those who are actually guilty of insider trading during the course of a year what fraction are prosecuted and convicted?
Not enough. SEC budgets have not risen and a lot of their time has gone into the crappy paperwork reviews that have proliferated, with little benefit to those new rules. And the insider trading gets a lower priority now.
And sometimes a prosecution should not have occurred. I’m one of the few Trump supporters that has hated Giuliani for a long time because he went overboard when he was a prosecutor to make his name and career. One name in particular was Timothy Tabor, who was arrested and perp-walked by Giuliani’s office as a 29-year old in the 80’s and after 18 months wasn’t even prosecuted. HE was innocent. But his life was ruined. As a 29-year old.
I thought Phil Mickelson should have not been given a plea bargain last year and should have had the same punishment that Huffman got recently. Even a little jail time would go a long way to make an example of these celebs who end up getting caught and paying a fine instead.
But remember, Stewart spent TEN YEARS as a stockbroker, she knew better. That’s why she went to jail for that long.