Here’s something that might surprise you: a 2021 study of congressional stock trades found that most members actually underperformed the market as a whole. The supposed insider edge? It barely exists. So when we talk about banning public officials from trading individual stocks, we’re assuming they have secret information that gives them an unfair advantage. The data says otherwise. Let me define the terms. A ban means forcing every official, from local mayors to senators, to sell off any individual stock they own. That’s a huge intrusion into personal finances. And it’s a blunt instrument. We already have the STOCK Act, which requires disclosure, plus ethics rules against trading on nonpublic information. What we lack is enforcement. If the real worry is conflicts of interest, then the fix is stronger recusal rules and more audits, not stripping financial rights from everyone. Banning trading punishes the 99% of officials playing by the rules for the rare few who break them. That’s overcorrection, not good policy.

[No submission - Time expired]