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Should Insider Trading by Congress Be Allowed? |
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ARCHIVED WEBSITE: The Stop Trading on Congressional Knowledge (STOCK) Act intended to prohibit members of Congress from buying or selling securities based on information gained on the job, but the bill died in House committee three times (2006, 2007, 2009) with only a few sponsors. On Nov. 13, 2011, 60 Minutes reported that several members of Congress allegedly used insider information for personal gain, and the STOCK Act received 84 additional House co-sponsors within five days. On Apr. 4, 2012, the STOCK Act was signed into law by President Obama. Proponents contend that regulating insider trading is inefficient, would be impossible to implement in Congress, and could harm the flow of information between Capitol Hill and the public. Opponents contend that congressional insider trading allows for unethical profiteering and conflicts of interest and that government officials should be held to the same standards as all other Americans. Read more…
PROS & CONS BY CATEGORY
CORE QUESTION
Defining Insider Trading
Insider Trading Law and Regulation
Legal Loophole for Congressional Insider Trading
The STOCK Act
Congressional Representatives' Stock Performance
Financial Disclosure
Political Intelligence
Insider Trading and the Market
ARCHIVED WEBSITE: The Stop Trading on Congressional Knowledge (STOCK) Act intended to prohibit members of Congress from buying or selling securities based on information gained on the job, but the bill died in House committee three times (2006, 2007, 2009) with only a few sponsors. On Nov. 13, 2011, 60 Minutes reported that several members of Congress allegedly used insider information for personal gain, and the STOCK Act received 84 additional House co-sponsors within five days. On Apr. 4, 2012, the STOCK Act was signed into law by President Obama.
Proponents contend that regulating insider trading is inefficient, would be impossible to implement in Congress, and could harm the flow of information between Capitol Hill and the public. Opponents contend that congressional insider trading allows for unethical profiteering and conflicts of interest and that government officials should be held to the same standards as all other Americans. Read more…
PROS & CONS BY CATEGORY
CORE QUESTION
Defining Insider Trading
Insider Trading Law and Regulation
Legal Loophole for Congressional Insider Trading
The STOCK Act
Congressional Representatives' Stock Performance
Financial Disclosure
Political Intelligence
Insider Trading and the Market
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