Investors Anonymous
Reihan Salam at The Daily is of course glad hedge fund villain Raj Rajaratnam was convicted for insider trading, blah blah, but spells out one of the perverse results of keeping those who know the most about companies (theoretically) from helping spread that knowledge and help bake it into the…
How the regulatory arm of the Money Monopoly — in order to “protect” small investors from predatory insiders, natch — ends up encouraging, nay demanding, faceless corporations with governance alienated from the enterprise and unaccountable to investors.