IT WAS a double whammy for investment analysts everywhere when the House of Commons debated insider dealing in January.
Gobsmacker number one; the government actually proposed tightening up existing legislation.
Gobsmacker number two; Labour argued against the idea, calling instead for 'more effective operation of free market forces in the sale of securities'. Next time you bloody entrists come round canvassing, put me down as a definite!
The Tories at least had an excuse for their disgraceful action, namely an EC directive to comply with. Until now, a loophole make it OK for a Brit with inside information to one of the many securities quoted in both London and another market (Paris, Frankfurt, New York or Tokyo, for example) to make a killing for the price of a 'phone call.
Now this freedom is to end! Thankfully the Labour Party is still around to speak out against such draconian infringements on the liberty of the individual.
Step forward Alistair Darling, Labour MP for Edinburgh Central, and the most junior member of Gordon Brown's infamous treasury team. Mr Darling complained that the proposals