Looking Closer at Congressional Insider Trading

George Zornick on November 18, 2011 - 2:46pm ET

 

Last Sunday, 60 Minutes had an explosive piece about what appears to be insider trading conducted by members of Congress. It looked at various examples of when elected representatives used non-public information to buy or sell stocks accordingly, thus profiting from their privileged status.

Washington took notice of the story in a major way. It was the subject of several floor speeches this week, and bills were introduced in both the House and Senate—including one sponsored by Republican Senator Scott Brown—to bar such deals, which are currently well within legal limits and probably even within Congressional ethics rules.