that identified a number of members of Congress [who] had been trading stocks while the economy was cratering and the bailouts were being negotiated,” Gellasch tells. “Not shockingly, some of these members of Congress appeared to profit handsomely from their trading.
The question, he continues, is this: Do the insights that members of Congress receive as part of their job count as insider information even if it’s not being shared to provide that advantage? Here, Gellasch notes, the bill should’ve been clearer, and any new policy proposal should go much further to enact more dramatic restrictions than the STOCK Act.