Insider Trading

Andrew Ross Sorkin has a startling and rather depressing article in this morning’s New York Times, discussing the disturbing prevalence of insider trading. This prevalence was revealed in a study by three professors, Menachem Brenner and Marti G. Subrahmanyam at N.Y.U. and Patrick Augustin at McGill. The comments on the article make interesting reading: Almost to a person (actually to a man), they say: “What’s new? Everyone knows the stock market is crooked.” And that’s even more depressing.