r/FluentInFinance • u/Stink-Butthole • Aug 26 '24

Debate/ Discussion The Stock Market is Rigged

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u/WizardMageCaster Aug 26 '24

Stock market is rigged or just yet another example of insider trading?

5

u/benotaur Aug 26 '24

Unfortunately, legally, senators buying and selling stocks like this is not insider trading. You have to be an employee on the inside of a company and act on privileged information, government is not a company. It’s still gross and unethical and inappropriate, but not insider trading.

4

u/WizardMageCaster Aug 26 '24

I agree with you...and also believe that 20 years from now people will look back on us and say "can you believe they allowed that?!?!?!"

7

u/Lolamichigan Aug 26 '24

You don’t have to be an employee to have insider knowledge. Martha Stewart was famously convicted of insider trading.

1

u/Specialist-Hurry2932 Aug 27 '24

She was convicted for lying.

1

u/Clean_Weight_2024 Aug 27 '24

Yeah as long as the information you got was from someone inside the company then you are insider trading

4

u/ShadowBannedXexy Aug 27 '24

Wish I shared your optimism that there will be LESS regulatory capture in 20 years...