‘Ban Insider Trading By Congress,’ Obama Says In State Of The Union

Not to be lost in President Obama’s State of the Union address was his take on the insider trading bill (the so-called “STOCKAct”) pending in Congress that would bar insider trading by members of Congress and their staffs. 

After discussing “the deficit of trust between Main Street and Wall Street,” he turned to the “divide between this city and the rest of the country,” saying that it is “at least as bad – and it seems to get worse every year.” He then stated:
 
“Some of this has to do with the corrosive influence of money in politics.  So together, let’s take some steps to fix that.  Send me a bill that bans insider trading by members of Congress; I will sign it tomorrow. Let’s limit any elected official from owning stocks in industries they impact.”
 
This, certainly, is a popular position with people around the country, but the President managed to get it in his already-packed address. It's now up to Congress to enact the STOCKAct; we think that will happen promptly.