Malcolm Smith, City Councilman Daniel Halloran, two high-ranking city Republican Party officials and the mayor and deputy mayor of suburban Spring Valley were arrested in a multi-pronged federal probe.

WSJ: Corruption case reverberates from NYC to Albany

The multi-year insider trading probe that has snared the likes of Galleon Group founder Raj Rajaratnam and former Goldman Sachs director Rajat Gupta keeps churning, and during an investment conference in Manhattan Wednesday a trio of lawyers who have been on both sides of such cases offered up their take.

FORBES: Insider Trading Scandals Aren't Going Away, Lawyers Say