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Insider Trading Charges: Ill-Defined and Harmful to Markets, Say Experts

Federal charges filed in late January against a “criminal club” of investors who made money trading on insider information has raised the issue of what, exactly, is insider trading – and should it be a crime? The announcement followed by three months the sentencing of Galleon Group founder Raj Rajaratnam to 11 years in federal prison after his conviction on insider trading charges. This is the longest prison sentence for insider trading in U.S. history. "Today you sentence a man who is the...

Idaho Tax Committee Chairman Pushes Cigarette Tax Hike; Others Push Back

In a recent statement to the Idaho Reporter, State Rep. Dennis Lake (R-Blackfoot) labeled himself a legislative “errand boy” for the American Cancer Society, pledging to work for higher cigarette taxes at the group’s behest. Lake offered legislation for a higher cigarette tax last year but failed to win support from the Revenue and Taxation Committee, which he chairs. He says he plans to try again. The proposal, touted as a “win, win, win solution” by the ACS coalition in terms of public health...

Tax Increase Debate Takes Center Stage in Washington State

One way or another, Washington voters may be asked to raise taxes in 2012 to bail the state out of a nearly $2 billion budget deficit. Special interest groups have long been rumored to be targeting the 2012 ballot with citizen initiatives to raise taxes, and Gov. Chris Gregoire (D) wants the Legislature to go directly to the people as well, with a referendum to “temporarily” raise the state’s sales tax. “After three years of cutting, now is the time to invest in a better future for all...

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