The $400 Million Industry You’ve Never Heard Of
The sale of hard-to-access political information to corporate clients seeking to make a buck off insider information about decisions that shape investment opportunities has been around since the 1980s. But as Wall Street has become increasingly reliant on speed and early access to knowledge to make profitable speculative trades, access to information from Washington insiders or gleaned from obscure subcommittee hearings has become even more valuable. Though not technically illegal, the secrecy so essential to the political intelligence industry’s success frustrates transparency advocates and seems tailor-made for eventual scandal.
Source: Mother Jones