Roger Parloff wants to ban it:
While Congress never consciously created the cracks in the insider trading laws that its members now enjoy slipping through, they have consciously refused to seal them. Legislation has been introduced in each session of Congress since 2006 (by Louise Slaughter of New York and a handful of others), known as the STOCK Act (for "Stop Trading on Congressional Knowledge Act"), that would solve most of the problem. But until Sunday's 60 Minutes piece, it somehow never gained any traction.
Parloff reports that new STOCK Act bills are now making their way though Congress.
(Hat tip: Bainbridge)
The Dish 