The PELOSI Act (HONEST Act)

The PELOSI Act (HONEST Act)

Should We Stop Legalized Insider Trading?

There’s a bill sitting in Congress right now called the HONEST Act. Sounds good already, right? It stands for “Holding Officials Accountable Through Transparency,” and if passed, it would essentially ban members of Congress, their spouses, and dependent children from owning or trading individual stocks.

They had named it the Pelosi Act, but decided that was a bit too “on the nose”.

If you or I bought stock in a defense company the night before the U.S. dropped bombs on a country, we’d likely land in prison for having foreknowledge either through breaching security clearance or working for the arms manufacturer.

But if a senator does it? That’s somehow perfectly legal.