Paul Gigot gets the last word — and the better of the exchange — in this Bloomberg article:
Manhattan U.S. Attorney Preet Bharara, who led the charge for the government, remains sanguine. He said Tuesday in a public exchange with the writer Tom Wolfe at the 92nd Street Y in New York that the court ruling wouldn't affect the vast majority of cases.
"If Congress tomorrow adopted the Wall Street Journal editorial page's view that all insider trading is awesome, which appears to be their view, then we wouldn't prosecute those cases," Bharara said. Until then, he added, "you continue to bring cases which you think are appropriate."
Paul Gigot, the newspaper's editorial page editor, responded that the "Court of Appeals didn't overturn our views on insider trading. It overturned Mr. Bharara's."