It’s good news that the Senate has moved to make legislators abide by the same rules the rest of us do. But Congress needs to go further—with the Restrict Act.
The STOCK Act to ban insider trading by members of Congress has sailed through the Senate, 96-3, and many members of the U.S. Senate were no doubt kicking and screaming as they voted for it. Heck, some of the most prominent co-sponsors were people that I identified in my book as having stock-trading activities that correlated nicely with their legislative work.
But let’s not let any of that sour the moment. The U.S. Senate has finally passed an important piece of legislation that reminds us all that members of Congress should abide by the same rules the rest of us do, including those involving insider trading.
I’ve made a lot of enemies in Washington over the past three months with the release of my book. I’ve been called names (by members of both political parties) and threatened with litigation. (My response was “go right ahead.”) But let’s take a moment to talk positively about some of those who made a difference in making this happen. After all, the American West was won by wagon train, and it took a team of dedicated and courageous people to bring us to this point.