The Office of Congressional Ethics is investigating Republican Rep. Spencer Bachus of Alabama over possible insider-trading violations, the Associated Press reported, citing "individuals familiar with the case." The office reportedly began the probe late last year over some suspicious trades by the House Financial Services Committee chairman. The House passed rules against just such trades on Thursday, prompted by a book by Peter Schweizer, a Newsweek article by Peter J. Boyer, and a 60 Minutes report. The case is the first of its kind involving a member of Congress, and there are allegations that Sen. John Kerry, among others, have benefitted from buying and selling stocks on companies affected by government policies.
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