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Jonathan Weil

Did Someone Insider Trade on Obama's MyRA?

Is there any connection between a company whose ticker symbol is MYRA, a surge in its share price and a plan by President Barack Obama to start a government savings plan for low- and moderate-income workers called MyRA?  

A hot topic that kept popping up last year was whether well-connected people in Washington were using unpublicized government information to make money for themselves or their clients in the stock market. The consensus that finally emerged after much scandal-mongering was that this sort of thing goes on all the time, and usually there's nothing illegal about it.

Nor should there be: If anything, we need more openness from the federal government, not more secrecy and hysteria in the name of cracking down on securities researchers and the political-intelligence industry.