Democrats, Republicans, and Independents are uniting to put a stop to insider trading in Congress.

Rep. Ron Paul (R-TX), who is rising in Republican presidential polls this week, told Fox News’ Megyn Kelly that insider trading must be punished:

Meanwhile, from the Senate Committee on Homeland Security and Government Affairs:

LIEBERMAN, COLLINS TO HOLD HEARING ON INSIDER TRADING LAWS AND CONGRESS

60 Minutes Story Sparks Examination

WASHINGTON – Homeland Security and Governmental Affairs Committee Chairman Joe Lieberman, ID-Conn., and Ranking Member Susan Collins, R-Maine, announced Wednesday they would hold a hearing to examine how insider trading laws apply to Congress.

The hearing, requested by Committee Member Scott Brown, R-Mass., and sparked by a 60 Minutes report, is intended to clarify the laws and rules that govern members of Congress who may profit personally from non-public information they learn in the course of their work.

“Insider trading by members of Congress – if it occurs — is a serious breach of the public trust,” said Lieberman. “No one in Congress should be enriching themselves based on information to which the general public has no access. Our hearing will set the record straight about how existing laws and ethics rules apply to Congress and whether they are sufficient to prevent unethical market trading.” (more…)

Yesterday, Democrats on the Senate Finance Committee torpedoed efforts to require Mediciad applicants to show IDs. We noted that, with fraud running at around $100 billion in Medicaid and Medicare, this might not have been the wisest vote. Well, it turns out Democrats on the Senate Committee are perfectly fine with a 10% fraud rate.

Today, the Committee voted on an amendment from Sen. Cornyn which would have delayed expansions in Medicaid until steps had been taken to get its error/fraud rate down to 3.9%, the average of all government programs. Details below:

Cornyn Amendment #C30 to America’s Healthy Future Act of 2009

Short Title: Reducing waste, fraud, and abuse in the Medicaid program.

Description of Amendment: Prior to implementing the mandatory Medicaid program expansions in the Chairman’s Mark, the Secretary of Health and Human Services must certify that states have implemented program integrity and quality improvement measures specified in the Chairman’s Mark and that the Medicaid program’s average Payment Error Rate Measurement is less than 3.9 percent.

Offset: No offset needed.

 Republicans

CHUCK GRASSLEY -yes, ORRIN G. HATCH -yes, OLYMPIA J. SNOWE -yes, JON KYL -yes, JIM BUNNING -yes, MIKE CRAPO -yes, PAT ROBERTS -yes, JOHN ENSIGN -yes, MIKE ENZI -yes, JOHN CORNYN -yes

Democrats

MAX BAUCUS -no, JOHN D. ROCKEFELLER -no, KENT CONRAD -no, JEFF BINGAMAN -no, JOHN F. KERRY -no, BLANCHE L. LINCOLN -no, RON WYDEN -no, CHARLES E. SCHUMER – no, DEBBIE STABENOW -no, MARIA CANTWELL -no, BILL NELSON -no, ROBERT MENENDEZ – no, THOMAS CARPER -no

Not Agreed to (10-13)