New York Times: Time to Ban Profit-taking Inside Congress
by PubliusFrom The New York Times:
The ghost of George Washington Plunkitt, the 19th-century Tammany Hall boss who cynically defined “honest graft,” is in the air as bipartisan panic suddenly sweeps Congress over an ethical matter that is old news on Wall Street: insider trading.
A long-languishing bill to ban stock trading on inside information that lawmakers glean at private hearings and discussions has begun moving toward passage. The bill was lifted from hibernation by a new study from the Hoover Institution and a report on “60 Minutes” detailing the apparent freedom lawmakers have long enjoyed from the insider trading ban that applies to the rest of America.







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