The only exculpatory factor is the absence of either documentary evidence or personal testimony proving that the person making insider trade actually had the information in question.
SEC didn't ask him. Didn't ask anybody who had the info.
I posted information from the govt website on the Citizen Corps. Here's comment from Mondo Washington.
Rotten to the (Citizen) Corps
Rat 'Em Out
Not since the heyday of McCarthyism has there been anything like it. On its Web site, the White House tells how it is putting together the Citizen Corps, a vast network of amateur spies who tattle on any neighbors, friends, acquaintances, fellow workers, church parishioners, and family members they suspect of having terrorist ties. So far, the $230 million project includes the Citizen Corps Council, the Terrorist Information and Prevention System (TIPS), and a Medical Reserve Corps.
How will it work? The White House cites the example of Anne Arundel County, near Washington, D.C., as a model. There people are busy "taking police reports; making follow-up phone calls to victims; doing fingerprinting; helping with the neighborhood watch."
As for TIPS, it's meant to be "a national reporting system that would allow these workers, who have routines and are well positioned to recognize unusual events, to report suspicious activity to the appropriate authorities," the White House explains. Attorney General John Ashcroft says it's time for the country to turn its attention to "terrorism detection and prevention." He cites the National Sheriffs Association, which claims there are already 7500 communities actively watching their neighbors.
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