really? so Steve Cohen isn't part of the Wall Street establishment? How about Raj Rajaratnam and Rajat Gupta -- the last a board member at Goldman. Just started his two year stretch in the federal pen.
But I disagree with you about Stevie Cohen. Quite a few of his underlings took a fall, but he personally emerged scot free. He simply wrote a very big check and made his problems go away. He's busy managing his remaining billions in a "family office".
[1] http://www.nytimes.com/2015/07/31/business/dealbook/us-asks-...
He's the best example of how the insiders are allowed to do it, while everyone else is not. As long as you call it an "experts network" and as long as you structure your corporate hierarchy properly you can do insider trading all day every day! Just ask Steven Cohen.