of course that is THEIR argument! they have gazillions of dollars at stake :)
I think the argument that some are making about inside info not being illegal at all (meaning remove the law completely) is interesting. I think Milton Friedman was a proponent of removing the law as well.
...just remember, if any us were really as good as we think we are at investing, we wouldnt be posting msgs all day on iHub. Chill out a little things will be ok.