Steve Cohen’s Congressman, Steve Cohen Will Have To Agree To Disagree On Insider Trading
As we know, the Big Guy’s been smiling ever since the courts told Preet Bharara where to stick it. Rep. Jim Himes (D-Greenwich) would like to wipe that smirk right off his face.
“Unfortunately my congressional district has been disproportionately a source of bad actors and alleged bad actors in this area,” Mr. Himes said at a congressional hearing...Under Mr. Himes’s bill, a trader would have to know, or “recklessly” disregard knowing, information he traded on was wrongfully obtained. The bill defines “wrongfully obtained” through a series of specific actions, including a breach of a duty of trust or confidence, or even through computer hacking.