Look, I get the instinct behind this. Nobody wants a senator cashing in on insider knowledge about a defense contract. But banning stock trading for public officials treats a symptom while ignoring the whole system.
The real issue is disclosure and enforcement, not prohibition. We already have laws against insider trading, and they apply to Congress just like everyone else. The problem isn't that officials own stocks; it's that we don't catch them when they cross the line. Adding a blanket ban sounds clean, but it creates a feedback loop of unintended consequences.
Think about it. If you ban all individual stock ownership, you push officials into blind trusts or index funds. That sounds great until you realize they're still getting the same policy briefings, still making decisions with massive market impacts. They just lose the transparency of public ownership filings. Now we can't see their positions at all, and we're left with even less accountability.
Plus, you'd discourage smart, experienced people from public service. Why take a massive pay cut and then lose the ability to manage your own savings? A ban doesn't fix corruption; it just hides it deeper. Better to strengthen conflict-of-interest rules and enforcement, not upend everyone's personal finances.