Insider Trading Ban for Lawmakers Clears Congress
In my opinion, it is an excellent move in the right direction. I think that the spirit of this legislation should be adopted by legislators of each country to combat corruption. Though, I know there is more to be done in this regard.
"Senator Susan Collins, Republican of Maine, who helped write the bill, explained the surge in support. “At a time when public confidence in Congress is at an all-time low,” Ms. Collins said, “we must remove any doubt that the law and rules against insider trading apply to members of Congress.”"
"the bill requires lawmakers to disclose the purchase or sale of stocks, bonds, commodities futures and other securities within 45 days of transactions, rather than once a year as they now do. The information will be posted on the Web."
"Senator Joseph I. Lieberman, independent of Connecticut and the chief sponsor of the measure, said it was “the most significant Congressional ethics legislation we’ve adopted in at least five years.” "
