This is madness.
Our society is spending millions of dollars treating SYMPTOMS not the CORE problem. It is the trading that is wrong not trading the wrong way. What a horrible waste that our best minds use up the 60 best, most productive years of their lives starring at a screen ignoring their wives, children, communities, friends and others less fortunate. They die clueless as to what they have missed thinking that flying in their own jet to 4 acres in Palm Beach in a house used 50 days a year was a worthwhile goal.
That is the crime.
This silly case described in this newspaper article (that will cost tens of millions of dollars that could be spent building schools) is about going after people our society allows to throw away their lives on trading stocks and other financial instruments that do absolutely nothing for the people of the United States. And now you prosecute them for trading the wrong way?!?!?!?!
Four hundred years from now there will be history courses, plays, movies and books produced that will ridicule this madness of our time - that for the last 60 years we have allowed hundreds of thousands of some of our best minds in the United States to incessantly gamble while sitting at their desks (that they travel as much as two hours EACH WAY to go to) for over 120 hour a week. Our descendants will further marvel that people with even greater intellectual gifts of language will create and enforce laws regulating this horrible waste of lives as if it was something good - that was worth regulating. Its like telling a heroin addict that he can only put a 6 inch needle in his vein at a 30 degree angle while standing on one leg wearing black pants and then putting him in jail for wearing brown pants. The real crime is allowing laws like this to be written that legitimize and fool our society into thinking that this waste has a purpose or a common good. There is NO good that it generates.
Our society has gone mad. The Chinese and Indian leaders are rightfully laughing at us as we fritter away the spectacular accomplishments and assets created by those American who came before us who worked successfully to create the greatest country in the history of the world. And now we are enforcing rules for musical chairs on the deck of a rapidly sinking ship.
When will this stop???
My guess is that it will stop when the world no longer will pay with their labor for our madness. It will be a rapid and violent demand for an accounting. And then only our spectacular military apparatus will be able to protect us. It will finally come in handy when China, Japan, Germany and India demand something real for the trillions that we owe them. And then we can hand them a very special export - the hilariously complicated code of laws detailing rules for trading the worthless paper we offer back to them.