When the topic of insider trading in Congress comes up, Democrats are quick to accuse Republicans of corruption. Yet when the violations involve one of their own, the outrage disappears.
The STOCK Act, passed in 2012, was intended to prohibit lawmakers from trading stocks using inside information gained through their official duties. It requires members of Congress, their spouses, and senior staff to report certain financial transactions over $1,000 within 45 days.
In theory, that makes it harder for lawmakers to conceal suspicious trades. In practice, the penalty for violating the law is $200—an amount so trivial it might as well be nothing.
In…
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