The shocking 60 Minutes report on the apparent legality of widespread insider trading by...

|By:, SA News Editor

The shocking 60 Minutes report on the apparent legality of widespread insider trading by Congressmen and their staff gets a second look from law professors who cite a published paper by Donna Nagy. The article finds that members of Congress are in fact breaking the law by trading inside info if you apply either the "classical theory" that finds Congress has duties not to trade on undisclosed information or the "misappropriation theory" which makes it illegal to deceive the people who entrust Congress with confidential info.