Congress Passes the Stock Act...
You may not have heard this but Congress passed "The Stock Act " which now prohibits themselves from using insider information. According to the Los Angeles Times February 12 editorial, "Capitol Hill Cozy Insiders," "the Senate and House have rushed to pass a bill explicitly prohibiting lawmakers and their staffs from making stock trades based on the company secrets they're told. The two chambers split, however, over what to do about a new breed of Wall Street professionals who buzz around Capitol Hill, searching for tips that could affect stocks. The work of these "political intelligence" consultants may not merit the same degree of regulation as lobbyists, who actively try to influence legislation. Yet that doesn't mean they should be left to work secretly and unaccountably
Will this work? Or will they just find a way to circumvent it?
Will there be conseqences for members who are caught violating the law?
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