W.A. Franke Professor of Law and Business at Stanford University
Position:
Not Clearly Pro or Con
to the question "Should insider trading by Congress be allowed?"
Reasoning:
"...Information is property. The taking of property without consent is theft, and theft is both immoral and inefficient. Theft is inefficient because it erodes the incentive to create and invest, and subverts the important price signaling mechanisms of a free-market system..."
Speech titled "To Catch a Thief: Recent Developments in Insider Trading Law and Enforcement," June 20, 1986
Experts
Individuals with JDs, PhDs, other relevant advanced degrees, and government officials with significant involvement in, or related to, insider trading issues. [Note: Experts definition varies by site]
Involvement and Affiliations:
W.A. Franke Professor of Law and Business, Stanford University, 1997 - present
Director, Roberts Program in Law, Business and Corporate Governance, 1993 - present
Adjunct Scholar, American Enterprise Institute, 1990 - present
Member, American Law Institute, 1994 - present
Selected as among the nation's "100 Most Influential Attorneys" by the National Law Journal, 1997 - 2000
Professor of Law and Crocker Faculty Scholar, Stanford University, 1994 - 1997
Chair, Subcommittee on Market Structure, Legal Advisory Committee, New York Stock Exchange (NYSE), 1993 - 1996
National Fellow, Hoover Institute, 1992 - 1993
John M. Olin Faculty Fellow, Stanford Law School, 1991 - 1992
Associate Professor Law, Stanford University, 1990 - 1994
Commissioner, US Securities and Exchange Commission (SEC), 1985 - 1990
Counsel and Senior Economist for Legal and Regulatory Matters, President's Council of Economics Advisors, 1984 - 1985
"The Unexpected Value of Litigation: A Real Options Perspective," Stanford Review, Jan. 1, 2006
Advice and Consent: An Alternative Mechanism for Shareholder Participation in the Nomination and Election of Corporate Directors, in Shareholder Access to the Corporate Ballot, Lucian Bebchuk, editor, 2005
"Statutes with Multiple Personality Disorders: The Value of Ambiguity in Statutory Design and Interpretation," Stanford Law Review, Apr. 1, 2002
"Disimplying Private Rights of Action Under the Federal Securities Laws: The Commission's Authority," Harvard Law Review, Jan. 1, 1994
"Just Vote No: A Minimalist Strategy for Dealing with Barbarians Inside the Gates," Stanford Law Review, Apr. 1993
"To Catch a Thief: Recent Developments in Insider Trading Law and Enforcement," speech presented on June 20, 1986
