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December 18, 2014

The Coin of the Realm: How Inside Traders Are Rigging America

None of this would be a problem if the only goal were economic efficiency. The faster financial markets adjust to all available information, confidential or not, the more efficient they become. But profiting off inside information that's not available to average investors strikes many as unfair. The "coin of the realm" on Wall Street and in corporate boardrooms is contributing to the savage inequalities of American life. If Congress and the Securities and Exchange Commission wanted to reverse this and remove one of the largest privileges of the realm, they could. But they won't, because those who utilize those coins also have a great deal of political power.

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