WASHINGTON — In an effort to regain public trust, the Senate voted Monday to take up a bill that would prohibit members of Congress from trading stocks and other securities on the basis of confidential information they receive as lawmakers.
The vote was 93-2
[Is this a shocker to you or am I the only one who wasn’t aware of this??
I guess I really shouldn’t be surprised but don’t you think it’s just a wee bit “what’s right for me is wrong for you” or better yet, “we make the rules but they don’t apply to us” government practices. Trust me I’m not a big fan of Martha Stewart in any shape or form but didn’t the courts find her guilty of something that lawmakers are allowed to do with no questions asked?…… flagranny2]
The bill states that members and employees of Congress are not exempt from the federal law and regulations that ban insider trading.
“No member of Congress and no employee of Congress shall use any nonpublic information derived from the individual’s position as a member of Congress or employee of Congress, or gained from performance of the individual’s duties, for personal benefit,” the bill says.