Banning Insider Trading by Feds

Are federal employees engaged in insider stock trading? Reps. Louise Slaughter, D-N.Y., and Brian Baird, D-Wash., want to make sure they're not, The Hill reports. They've introduced a bill that would make it a crime for civil servants and members of Congress to use inside information they've gained in their jobs to profit in the stock market. The Securities and Exchange Commission would get the responsibility for enforcing the law -- but, of course, wouldn't be likely to get new staff to take on the work. “We could potentially expand [the agency], but not by much,” Baird said.

(Hat tip: Fedsmith.)