So, here’s the deal.  Remember how congress got all up on their high horse and enacted laws that said members of congress couldn’t benefit from insider trading information they may get while serving the damn country?

Not so fast, oh yee of faith.

The STOCK Act requires that any trades of $1,000 or more made on or after July 3 have to be reported to the House and Senate within 45 days. But the House and Senate have two completely different interpretations of that rule.

In the Senate, the Ethics Committee released one page of guidelines last month ruling that members and their spouses and dependent children all have to file reports after they make stock or securities trades. But the House Ethics Committee disagreed.

Its 14-page memo notifies House members and aides covered by the law that their spouses and children aren’t covered. The Office of Government Ethics, which oversees all federal executive branch employees, sided with the House, informing its employees that their spouses and children don’t need to file these periodic reports.

So, if you’re in Congress and your underage child makes a killing on the stock market because you talk in your sleep, or at the dinner table, or in the family swimming pool or yacht, that’s just one of the few perks of having a member of congress as your parent.

Kinda puts a whole new spin on that E-Trade talking baby commercial, huh?   Slogan?  “When my congressman dad talks, only the family gets to listen.”

Thanks to Cheryl for the heads up.