They are definitely a group that is picked for their passion for government affairs and who keep abreast of economic trends that affect the country.
Also, it is not necessarily the case that one who has insider knowledge will necessarily use it. One legislative aide remarked that he bought his shares at 12:50 P.M. On a date well after it was widely reported in the media.
It is extremely important that the Government create regulations to address insider trading. However, it may prove futile to prevent insider trading only, as the real danger of insider knowledge is that it might be passed on to larger groups of investors associated with congressional staff. Considering this, it may be necessary to create a new non-partisan agency to investigate the dealings and associations of congressional staff.
Partly because of the recent financial meltdown and the Government's self-interested response to it, citizen...
Many question the ethics and even the morality of our political leaders and lawmakers. Thus, it is important that the Government make efforts to regulate ethics not only to discourage foul play, but to alleviate the public perception of foul play in Congress. Only then can the Government start to regain the trust of the public.
Bibliography
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
