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By H. Randolph Holder


Despite existing laws on insider trading in general and their specific requirement to self-report securities trades, Congress feels the need to enact rules banning outright the ability of its members and staff to trade assuming that the activity is based on information they possess that the general public does not. Interesting. Either they have flouted these laws in the past with no serious repercussions, which is probably true considering the fine they set for themselves is only $200 and is often waived so, they need to make a show of cracking down on themselves for presumed bad behavior.