The latest from Sen. Scott Brown (MA) has not a whit to do with this. No, the headline is, I quote, STOP INSIDER TRADING IN CONGRESS, aka Sen. Brown proposing the STOCK Act. I am suspicious on principle, but must admit that the selling points he details in the mailing list email are intriguing:
The Act would prohibit Members and employees of Congress and Executive Branch employees from buying or selling stocks, bonds, or commodities futures based on nonpublic information they obtain because of their privileged status.
The Act would prohibit Congressional Members and employees from disclosing any non-public information about any pending or prospective legislative action obtained from a member or employee of Congress for investment purposes.
Congressional Members and employees would be required to report the purchase, sale or exchange of any stock, bond, or commodities future transaction in excess of $1,000 within 90 days.
Political intelligence firms would be required to register with the House and Senate, much like lobbyists currently do.
no subject