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Against the backdrop of long-running concern about information asymmetry between Capitol Hill and ordinary investors, the U.S.
House passed a bill aimed at curbing lawmakers' use of privileged information in stock trades.
Senator Elizabeth Warren said the legislation "won't solve the problem." Her specific objection: members of Congress can still own and sell individual stocks under the bill as written.
The gap Warren is flagging The bill targets insider trading by lawmakers. What it does not do, according to Warren, is remove congressional stock ownership or the right to sell. That distinction carries real weight.
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