Looking Closer at Congressional Insider Trading
Last Sunday, 60 Minutes had an explosive piece
about what appears to be insider trading conducted by members of
Congress. It looked at various examples of when elected representatives
used non-public information to buy or sell stocks accordingly, thus
profiting from their privileged status.
Washington took notice of the story in a major way. It was the
subject of several floor speeches this week, and bills were introduced
in both the House and Senate—including
one sponsored by Republican Senator Scott Brown—to bar such deals,
which are currently well within legal limits and probably even within
Congressional ethics rules.
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