Panic On Wall Street As Anti-Insider Trading Bill Spreads Wider Net Over Information Peddling

Senator Chuck Grassley put an clause back into the Senate's anti-insider trader law that requires analysts who meet with Congressmen and their staffs to register their meetings.

The purpose of this clause is to bring transparency to the information peddling that represents a lucrative trade for hedge funds and banks that trade on insider information from the Congressmen themselves.

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Wall Street apparently went into full court lobbying mode when they found out that Grassley had resubmitted this clause after they had successfully had it removed.