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Congress' insider trading

Congress is thinking about regulating its trading on nonpublic information about legislative activities. This is a good thing. But as I discuss, we shouldn't get carried away. Trading on nonpublic information is not necessarily bad, and may be socially productive. Moreover, we shouldn't go overboard in discouraging legitimate share ownership by legislators. It wouldn't be such a bad idea if they thought like shareholders rather than politicians.



Rafael Mangual
Project Manager,
Legal Policy

Katherine Lazarski
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.