Democrats and Republicans on the House Financial Services Committee on Tuesday advocated new restrictions on insider trading to help lift waning public trust in Congress. Previous efforts to pass restrictions on insider trading have not advanced in Congress. The issue re-emerged after a report by the CBS News program ‘60 Minutes’ highlighting members of Congress buying stock in companies during debates on legislation that might affect the businesses. See also ‘Corruption in Politics Prayer Alert 47-2011. ‘This is about restoring faith,’ said Representative Tim Walz, a Minnesota Democrat who is sponsoring legislation to explicitly ban insider trading. CBS reported, ‘during the 2008 financial crisis the ranking Republican on the Financial Services Committee bet stock prices would fall while being briefed privately that a global crisis might be imminent.’

Pray: for all that is hidden to be revealed and for financial corruption to end in all political arenas. (Ro.2:13)

More: http://www.nytimes.com/2011/12/07/business/congress-considers-new-limits-on-insider-trading.html