'Insider' Is Charged at FDA

The Wall Street Journal reports:

A longtime chemist at the Food and Drug Administration was charged Tuesday with insider trading by federal authorities, who alleged he made as much as $3.6 million trading drug company stocks based on confidential drug-approval information.

The Securities and Exchange Commission filed civil charges against Cheng Yi Liang, 57, an FDA employee since 1996, alleging he illegally traded in advance of at least 27 different FDA announcements involving 19 publicly traded companies.

The FDA could work if it was staffed with angles led by Elizabeth Warren. Of course you know we are just joking.