1) Generally they do things that are harder to prove illegal, harder to show were doing something they knew was wrong and don't send messages in IRC channels 'joking' about shorting stock when releasing bad news. In essence, they are smarter about it.

2) Some are.

3) Not everyone involved in investment is doing something immoral.

I know the US has decided to start prosecuting thoughtcrimes, such as jokes on FB, but that's actually unconstitutional. Accessing a server is not a crime, the user agent is not meant for authorization, and what he did was immoral, not illegal. The only difference between what weev and Aaron Swartz did is the type of content downloaded and the quality of the person downloading.

You're arguing to put this douchebag in prison, but not for an actual crime. Remember that the next time they use the CFAA to crucify someone who doesn't deserve it.