This is not the ban on insider trading that you were looking for [Reader Post]

Congress has a penchant for passing toothless legislation, especially as it affects them. The STOCK Act is no exception. STOCK stands for Stop Trading on Congressional Knowledge. There is enthusiasm for such a law.

Fervor over insider trading on Capitol Hill reached a peak last fall following the airing of a “60 Minutes” segment questioning whether lawmakers including House Minority Leader Nancy Pelosi (D-CA) and Speaker John Boehner (R-OH) made investments based on their knowledge of legislative activity to which they would be privy.