A civil probe on this was already underway by the Commodity Futures Trading Commission, but now federal prosecutors are looking into possible criminal violations by commodities traders who may have received advance knowledge about the first U.S. case of mad cow disease and used it to reap profits in the cattle futures market. The disclosure of an investigation by criminal authorities was made today in testimony before the Senate Agriculture Committee.
But how could any insider trading be possible here? After all, the USDA would've been the first to know if the test was positive, and they wouldn't have wasted one minute to let people know about this - wouldn't have allowed cronies to profit while they scheduled the release of potentially life-saving information for Christmas Eve, would they?
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