Larry Elder starts a two part interview with Dean emeritus Henry Manne of the George Mason University School of Law. We had a good discussion in the comments of this blog a few days ago: as good a discussion as you can get with three guys who would all remove "insider trading" regulations. Professor Manne adds a corporate governance issue:
"I don't think the scandals would ever have erupted if we had allowed insider trading . . . because there would be plenty of people in those companies who would know exactly what was going on, and who couldn't resist the temptation to get rich by trading on the information, and the stock market would have reflected those problems months and months earlier than they did under this cockamamie regulatory system we have."