Word: legalized
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...line, though, between legitimate information-gathering and illegal insider trading is hardly a clear one. Technically, no laws ban trading on non-public information; prosecutions are based on legal theories that were developed in earlier court cases. "It's one of those areas where the courts say, 'I know it when I see it,' " says Gerald Lefcourt, a white-collar criminal defense lawyer in New York and past president of the National Association of Criminal Defense Lawyers. (See pictures of the top 10 scared stock traders...
...prison at Guantánamo Bay, Cuba, is an ever more embarrassing problem for President Barack Obama. Once a powerful campaign line, the idea of closing the prison is now such a source of heated political debate on Capitol Hill and such a complex legal challenge that the Administration is unlikely to meet its self-imposed deadline of shutting the place down by late January 2010. (See pictures of a jihadist's journey...
...charged with material support for terrorism or terrorist groups, one of the offenses Congress set aside for the commissions, as it did in 2006. But such offenses have not been recognized as war crimes by the Geneva Convention, nor have they been brought before military tribunals before. Administration legal officials have expressed concern that civilian appeals courts would reverse hard-won convictions on grounds that material support offenses should not have been tried by the commissions...
...before he was arrested on charges of insider trading on Oct. 16, billionaire Raj Rajaratnam described his job managing the New York City-based Galleon Group hedge fund as "a business in which you eat only what you kill." And though his hunting methods may have just come under legal scrutiny in the U.S., in Sri Lanka, where Rajaratnam was born, the high-profile entrepreneur has courted controversy for years...
...Undergraduate Legal Committee declined requests to provide further comment...