Members of Congress should not be permitted to profit from inside information.
If a member of Congress learns material, nonpublic information about a company, the member is forbidden to trade in that company’s securities.
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Why can’t Congress pass that law?
Shall we vote some recalcitrant members of Congress — those who oppose my proposed new law — out of office? Okay.
The country would get along just fine without those elected officials, trust me.
This is easy. And I’m just getting warmed up.
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As the situation with Sen. Mitch McConnell (perhaps dead) and Rep. Tom Kean Jr. (missing from the House of Representatives for months without explanation) just proved, members of Congress should be required to publicly release information about their medical conditions.
If you don’t care to release your medical information — medical conditions are private, and all that — no problem. Just don’t run for office. All your information will remain private.
Can’t vote for my law?
The private sector would be a good place for you.
Members of Congress should recuse themselves from hearings or votes on issues that directly affect the member’s own financial interest. There should be clear, enforceable definitions of what we mean by this. If a member violates the rules, the member should be required to leave Congress.
Too rich, or too conflicted, to obey these rules?
Fine.
We never needed you in Congress to begin with.
Won’t vote for these rules?
Don’t let the door hit you on the way out.
Members of Congress should not be able to use official resources (such as staff time or private briefings) to benefit their personal business interests.
Too tricky?
Resign.
Members of Congress should not be permitted to accept gifts, sponsored travel, or reimbursements from industries the members regulate.
If you think that’s outrageous — “It’s just a silly little gift they’re giving me” — then decline the silly little gift. It’s just a trinket anyway.
I once unthinkingly tried to buy a drink for a buddy who worked for the Securities and Exchange Commission.
He turned down the drink and paid for his own. (He explained to me why he was obligated to do that.)
Members of Congress can do that, too. It’s not so hard.
Members of Congress should not be permitted to direct federal contracts or funds to organizations with which the member has a personal or financial connection.
That’s just wrong.
Let’s make if illegal, too. Congress should pass that law.
Why doesn’t any member of Congress sponsor this type of legislation?
Because the member’s buddies in Congress won’t like the sponsor any more?
Great.
Screw your buddies in Congress.
You theoretically represent the public.
These ideas are easy.
Just do it.
Mark Herrmann spent 17 years as a partner at a leading international law firm and later oversaw litigation, compliance and employment matters at a large international company. He is the author of The Curmudgeon’s Guide to Practicing Law and Drug and Device Product Liability Litigation Strategy (affiliate links). You can reach him by email at [email protected].