GAO Steers Clear of Political Intelligence

The Government Accountability Office has issued a new report on Political Intelligence: Financial Market Value of Government Information Hinges on Materiality and Timing. The report states, "The prevalence of the sale of political intelligence is not known and therefore difficult to quantify. The extent to which investment decisions are based on a single piece of political intelligence would be extremely difficult to measure." The report continues, "Even when a connection can be established between discrete pieces of government information and investment decisions, it is not always clear whether such information could be definitively categorized as material... and whether such information stemmed from public or nonpublic sources at the time of the exchange...."