From Pinstripes to Prison Stripes

As the Feds round up the bad apples, the market flourishes

Just how far does the Government plan to go in its roundup of insider traders? The distance, apparently. Until now, jittery Wall Streeters could take comfort that the targets would be largely the most flagrant, Ivan Boesky- like abusers. But that reassuring notion rapidly evaporated in the aftermath of the Government's arrest this month of three high-ranking Wall Street officials, two of whom had allegedly made insider-trading profits only for their firms, not for personal gain. The cases suggested that prosecutors plan to go after not just greedy mavericks but overzealous employees and the companies for whom they work. As a...

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