We have truly abandoned the rule of law when it becomes necessary to hold hearings on whether or not to ban the practice of insider trading for Congressmen. I first read this story on ZeroHedge.
Will Congress simply find a way to route inside information to friends and family? Of course.
The root problem is the greed and wanting of a culture that simply cannot bring itself to do the right thing based on ethical or moral standards... instead our culture simply asks today, "Is this illegal? If it is, what are my chances of getting caught?" If the risk is low, or the act is not prohibited, they give themselves the green light to harvest money based on information that nobody else can obtain. The counter party to whatever trade they are engaged in- is you.
The problem isn't our Congressmen- the problem is our forever wanting and greedy society and culture- finding ways to exploit people they do not know. Finding nothing wrong with that. Confined to Congress? Sorry. We have an entire private banking industry, hundreds of thousands of people, who have proven you can't simply assign this problem to Congress. It is systemic and emblematic of our entire way of life.