It can't be good when a politician violates the already weak insider trading laws that apply to Congress. No wonder the Republicans didn't want to push for changing the insider laws. Reuters:
Congressional ethic investigators were examining whether [Republican Senator Spencer] Bachus violated Securities and Exchange Commission laws that prohibit individuals from trading stocks and options based on "material, non-public" inside information, the Post said, citing the individuals, who spoke on the condition of anonymity because of the sensitivity of the matter. Investigators were also looking into whether Bachus violated congressional rules that prohibit members of Congress from using their public positions for private gain, the newspaper said. The case comes as lawmakers sought to burnish their public standing after recent polls put the job approval rating for Congress at new lows.