Editorial:Keep insider trading bill strong
Congress voted last week to explicitly ban insider trading by its members, their relatives, staff and executive branch employees. After languishing for years, the bill prohibiting these folks from cashing in on nonpublic information learned on the job moved quickly and passed overwhelmingly. It was overdue. But this being Washington, there is controversy.
House Republicans stripped out a provision that would require "intelligence brokers" -- those who sell information about government to hedge funds, private equity firms and other big investors -- to register like lobbyists and disclose their activities. The Senate should insist that the provision, already in its bill, survive when the two versions are reconciled. Requiring everyone to play by the same rules is the best way to assure the public the financial system isn't rigged in favor of the rich and powerful.