Yes, it seems amazing on its face. Under current laws (or lack thereof), members of Congress and high-powered executive branch appointees can exploit “insider” knowledge of the financial industry to turn personal profit.
Basically, had Martha Stewart been a member of Congress, she wouldn’t have been sent to the slammer for five months and ordered to wear an ankle bracelet for another five for convictions related to insider trading .
If this all sounds a little hard to believe, you’re not the only one. The St. Petersburg Times (Fla.) didn’t believe it either, so the newspaper set about investigating our assertion that the potential exists for lawmakers to legally engage in insider trading, and that the situation must be addressed. Its conclusion? “Public Citizen Gets It Right About Insider Trading Rules.”