Insider Trading on Capitol Hill
(AP Photo/Mark Lennihan, file)
Insider trading is illegal. Members of Congress and their staff are not immune, but some say the law, as it applies to Capitol Hill, needs serious strengthening. In a new book, author Peter Schweizer charges that many members of Congress use information gleaned from behind closed doors to make well-timed stock trades, a practice he claims is legal under current insider trading laws. In addition he and others say Wall Street firms regularly profit from public policy insights picked up from many of these same sources. Join us to discuss insider tips from Washington: what’s illegal, what’s unethical, and what we should do about it.
Of Counsel, Wiley Rein,LLP and former chief counsel and staff director of both the Senate and House ethics committees
reporter, The Wall Street Journal
professor of law, Indiana University Maurer School of Law
William J. Casey Research Fellow,the Hoover Institution and
author of "Throw Them All Out: How Politicians and Their Friends Get Rich off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison"
Steve Kroft reports that members of Congress can legally trade stock based on non-public information from Capitol Hill: