I’ve previously commented on the fact that our representatives and senators (and their staff members) are exempt from insider trading laws and that attempts to change this inexcusable situation have been buried in committee.
If at first you don’t succeed try, try again. On November 15, the Republican Senator from Massachusetts introduced S.1871 (the “Stop Trading on Congressional Knowledge Act”), a bill
To prohibit commodities and securities trading based on non-public information relating to Congress, to require additional reporting by Members and employees of Congress of securities transactions, and for other purposes.
The bill has been read twice and referred to the Committee on Homeland Security and Governmental Affairs.
That’s where similar bills have languished in the past. Only if there is public outcry will this time be different.
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