I don't think you can generalize like that.
There have been cases of touts getting badly punished. Again, all cases are different and that's why I prefer judges having discretion as opposed to mandatory sentencing.
Look at Martha Stewart and Wascal (spelling?) - relatively minor and I don't feel too badly for her or for him. But, given the sentences they got for a 1 time scam, I don't think this case will be outside the range of "fairness."
Personally, I think that whatever discourages scams, both from touts and their associates, and from short manipulators and their associates, as well as other manipulators, is good.
I'm simplifying here but I'd bar all manipulators for life from anything in the securities industry, including trading. Beyond that, disgorgement and some type of restitution. I don't like to see people in jail but given how lazy and inefficient government is, it's easier to do that than think about some type of more productive measure. |
