April 5, 2012
Sen. Sherrod Brown (D-OH) failed in his quest to force Members of Congress to place their stocks in blind trusts.

The STOCK Act Is Signed Into Law, But Insider Trading Will Live On

Today, President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act into law, which overwhelmingly passed both houses of Congress. The law takes aim at insider trading within Congress, which was exposed in a blockbuster 60 Minutes report late last year.

“The powerful shouldn’t get to create one set of rules for themselves and another set of rules to everybody else,” said Obama before signing the bill into law. “certainly should apply to our elected officials, especially at a time when there’s a deficit of trust” in Washington”:

But the bill has many major flaws. As the STOCK Act wound its …

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