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INSIDER TRADING BY CONGRESS
Last updated on: 11/1/2011 9:38:04 AM PST Insider Trading by Congress Home Page > Source Biographies > >Brian Baird, PhD

Brian Baird, PhD Biography

Title: US Representative (D-WA)
Position: Con to the question "Should Insider Trading by Congress Be Allowed?"
Reasoning:
"Members of Congress and their staffs should not be above the law when it comes to profiting from sensitive information. The American people expect Members and staffers to work on their behalf and to represent their interests, not to increase the returns on our investments and fatten their stock portfolios. Privileging a select group of investors with confidential information about congressional activity is not only a misuse of a congressional office, it also undermines investor confidence about the fairness and integrity of the securities market."

As I have noted, buying or selling stock based on nonpublic information from Congress does not clearly run afoul of current insider trading laws. For this reason, I joined forces with Ranking Member Slaughter to introduce the Stop Trading on Congressional Knowledge, or STOCK Act, earlier this week to put an end to this troubling practice."
Press Release, "Brian Introduces Legislation to Prohibit Insider Trading on Capitol Hill," www.baird.house.gov, Jan. 27, 2009
Theoretical Expertise Ranking:  Experts
Individuals with JDs, PhDs, or equivalent advanced degrees in fields relevant to insider trading issues. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to insider trading issues.
Involvement and Affiliations:
  • US Representative (D-WA), 1999-present
  • Member, House Committee on Transportation and Infrastructure
  • Member, House Committee on Science and Technology
  • Co-Founder and co-Chair, Congressional Career and Technical Education Caucus
  • Co-Chair, Democratic Caucus Task Force on Health and Medicare
  • Co-Founder and co-Chair, National Parks Caucus
  • Co-Founder, Congressional Caucus to Control and Fight Methamphetamine
  • Senior Democratic Whip, US House of Representatives
  • President, 1998 Democratic Freshman Class, US House of Representatives
  • Professor, Department of Psychology, Pacific Lutheran University, 1986-1998
  • Chair, Department of Psychology, Pacific Lutheran University, 1995-1997
  • Former clinical psychologist
  • Member, Phi Beta Kappa
  • Education:
  • PhD, Clinical Psychology, Wyoming University, 1984
  • MS, Clinical Psychology, Wyoming University, 1980
  • BS, Psychology, University of Utah, 1977
  • Other:
  • Sponsor, Stop Trading on Congressional Knowledge (STOCK) Act, 2006, 2007, 2009
  • Sponsor, Political Intelligence Disclosure Act, 2008
  • Quoted in:
    • 1. Should Congress pass the Stop Trading on Congressional Knowledge (STOCK) Act?
    • 2. What is the Political Intelligence Disclosure Act?
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