The WSJ quotes yours truly in connection with the Stop Trading on Congressional Knowledge Act:
The legislation, by Democratic Reps. Brian Baird of Washington and Louise Slaughter of New York, would prohibit lawmakers from trading in financial markets based on nonpublic information they learn on the job. It would also require them to make their financial transactions public within 90 days of a purchase or sale. ...You can download my article The Stop Trading on Congressional Knowledge Act from SSRN.
Some critics say the proposed legislation—the Stop Trading on Congressional Knowledge, or Stock, Act—wouldn't go far enough. Stephen Bainbridge, professor of securities law at UCLA Law School, said that even if the legislation passed, members of Congress could act on insider information relating to stocks on which there was no "pending or prospective" congressional action.
