U.S. insider trading cops are winning plenty of battles - but losing the war. Nabbing the likes of Galleon Group founder Raj Rajaratnam hasn't slowed investing on leaked secrets, new research shows. But with other nations also cracking down, America could lead the way with clearer laws and more consistent enforcement. Every day seems to bring another case. With Rajaratnam, former McKinsey boss and Goldman Sachs director Rajat Gupta, along with plenty of other Wall Streeters, already in the bag, federal prosecutors promise charges against hundreds more. And the Securities and Exchange Commission is on pace this year to exceed last year's 57 insider trading suits. Though useful in quelling outrage over financial wrongdoing, this flurry of activity may be having little deterrent effect. According to a University of Michigan study, insider trading increased steadily from 1995 to 2011 - well after Rajaratnam's 2009 arrest - as measured by the run-up in targets' stock prices before
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