Congress should do the same. During my time at Goldman Sachs, essentially all employees were banned or heavily discouraged from trading single-name stocks in personal accounts. Over the past decade, this has slowly become the norm at Wall Street banks.
This wouldn’t be so bad for public officials either. Exchange-traded and index funds offer some of the best returns, and perhaps the best investment strategy, available to most people.
The best and safest alternative we have to protect market integrity is to ban single-name stock trading altogether by public officials.
