SEC Laws For The Little People

Capitol Hill’s Stock Trading: What the Academic Research Concludes – Deal Journal – WSJ

Did you know Congress is exempt from stock insider trading laws?

As the Journal points out, a piece of legislation called the STOCK Act proposes to bar members of Congress from trading securities based on nonpublic information they obtain. The bill so far has languished.

“Is it really surprising that this has gotten stuck?” Bainbridge said in an interview. “Until there is a very big scandal, it’s one of those classic good government reforms that will go nowhere.”

Bastards.

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