Member of Congress are notorious for passing laws that affect everyone but themselves. Case in point, they are not exempt from laws on such subjects as sexual harassment, health care and insider trading but they do have an annoying habit of being able to look the other way when there are obvious violations.
But one need only look back to the year 2024—just two short years ago—to see wholesale cases of insider trading by members of Congress in direct violation of the 2012 STOCK ACT prohibiting the use of non-public information for private profit.
And the examples of insider trading by one Donald J. Trump are far too numerous to even list here.
And LouisianaVoice and just about every Louisiana news outlet has carried stories of how Julia Letlow (1) violated the STOCK Act some 200 times by missing reporting deadlines on her trades and (2) invested in Meta, which is constructing a mammoth data center in her district, a transaction one outlet said carried “A TRULY CROOKED STENCH.”
So, to put its collective purity on display just before the midterm elections, Congress on July 22 magnanimously passed the STOP INSIDER TRADING ACT (SITA) which increases penalties for insider trading in Congress from (wait for it) $200 to $2,000 or 10 percent of the value of the transaction, whichever is greater.
Think about that. With some trades netting hundreds of thousands of dollars, a 10 percent fine is little more than a broker’s fee—certainly not to be considered a deterrent. It’s a shell game, folks, and we’re the marks. Letlow is a great example of that: she voted for the bill even as she took full advantage of the soft enforcement of House ethics rules—all while running for the U.S. Senate.
You’d think that a good ethics bill would get solid bipartisan backing but alas, it barely passed, by a 232-198 vote.
Why, you ask, did it not get stronger support? Well, because House Republicans attached a rider that included the bulk of H.B. 9368 that would require photo ID to vote in federal elections. It’s all part of Trump’s SAVE America Act which is aimed at disenfranchising minorities and the elderly.
It also requires states to submit voter rolls to a federal database for review, a request with which Louisiana’s secretary of state has already complied.
Those with long memories will remember that a computerized database was instrumental in disqualifying tens of thousands of voters in Ohio in 2004. Ohio was a swing state that Bush won in a razor-thin majority over John Kerry. That particular data base was employed to ensure the placement of plentiful number of voting machines in districts favorable to Bush and to ration the machines to districts leaning toward Kerry. The result was people waiting as long as 16 hours to vote in the latter districts while just the opposite was the case in the others.
It’s no secret that the SAVE America Act is simply a repeat of that tactic and Trump, with a historically low approval rating, is desperate to keep Republican majorities in each chamber.
So, why not attach a rider onto a bill that looks like a strong ethics bill in order to get what Republicans want? It’s an old trick and one which only contributes to the existing state of gridlock.
If you seriously think for one nano-second that the bill, which, by the way, is doomed for failure in the Senate anyway, will discourage insider trading, you probably believe Trump was on Air Force One when it left Turkey.



