Adolf A. Berle Professor of Law at Columbia University Law School
Position:
Not Clearly Pro or Con to the question "Should Insider Trading by Congress Be Allowed?"
Reasoning:
"[E]xtending the insider trading prohibition to Members of Congress would overreach; that is... it could prove a trap for the unwary, snaring relatively innocent mistakes by busy Members of Congress. Or it could impose illiquidity on Members of Congress who would not dare to trade...
Congress should not attempt a comprehensive statute defining all of insider trading law. Congress has attempted that before, only to give up. The moment Congress attempts a comprehensive statute, special interest groups will appear in droves, seeking safe harbors for their members. The result could give rise to even greater uncertainty...
...Congress should pursue a narrow, surgically targeted statute and not take on the very complex problem of codifying the entire law of insider trading. That could prove a disaster.”
"Insider Trading and Congressional Accountability," US Senate Committee on Homeland Security and Public Affairs, thomas.loc.gov, Dec. 1, 2011
Experts Individuals with JDs, PhDs, or equivalent advanced degrees in fields relevant to insider trading issues. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to insider trading issues.
Involvement and Affiliations:
Adolf A. Berle Professor of Law, Columbia University Law School, 1980-present
Director, Center on Corporate Governance, Columbia University Law School, 1980-present
Visiting Professor, Harvard University Law School, 2001
Visiting Professor, Stanford University Law School, 1988
Professor, Georgetown University Law School, 1976-1980
Visiting Professor, University of Michigan Law School, 1979
Visiting Professor, University of Virginia Law School, 1978
Attorney, Cravath, Swaine and Moore, 1970-1976
Reginald Heber Smith Fellow, Poverty Law Litigation, New York City, 1969-1970
Education:
LLM, Taxation, New York University School of Law, 1976
