This is CBS Eye on the World. Here's John Bachelor.

And it's a pleasure to welcome the author, Raj Rajaratan. His new book is uneven justice.

This is an autobiography at the same time in analysis of Wall Street, the Justice Department

these last years, especially since the Great Recession of 2008 and 2009. The subplot

is the plot to sink Galleon. Galleon is not a ship. It was a hedge fund at the time. And

I welcome Raj and I go to an event that is flabbergasting once you understand Raj's story.

This is the Bauerra Task Force on Insider Trading, publishing findings January 27, 2020, right

before the pandemic. Crete Bauerra was the former US Attorney for the Southern District

of New York, an extremely powerful post in the solar system. The Task Force writes this,

for too long, Insider Trading Law has lacked clarity, generated confusion, and failed to keep

up with the times. Without a statute specifically directed at Insider Trading, the law has developed

through a series of facts-specific court decisions applying the general anti-fraud provisions

of our security laws across a broadening set of conduct. I'll stop there because lack

clarity is everything you need to understand. Raj, a good evening to you. Thank you very

much. This paragraph is striking to me. What is what was? How do we understand Insider

Trading from the point of view of a professional? And for many years, you trained very carefully

lots of people to understand what is and what is not a permissible, good evening to you, Raj.

Good evening, John, and I'm delighted to be here. I've been an admirer of you also because

you explored the truth and you're a fighter as well, and you care about civil liberty. So

let me get to your answer, get to your question. Number one, traditionally Insider Trading

was if an insider of a company violated their fiduciary responsibility and traded on

that stock. Over the years, this Insider Trading

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