Senate ready to move on bill that would ban insider trading by members of Congress The USA Times

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Friday, May 25, 2012

Senate ready to move on bill that would ban insider trading by members of Congress

WASHINGTON - A recent poll indicates that a majority of Americans favour dumping every member of Congress. Now, the Senate is trying to restore a measure of trust by passing legislation to ban insider trading by lawmakers.

Insider trading laws apply to all Americans. But the CBS TV news magazine "60 Minutes" reported in November that members of the House and Senate get a free pass and that some lawmakers legally used knowledge from their official work to make money in the market.

A procedural vote in the Senate on Monday would allow the bill to pass later in the week.