It is always nice to be told you are right, and having the SEC tell a securities attorney that he is right about a securities law issue is even nicer. Senators buying stock based on non-public information regarding pending legislation is not illegal, and it is not insider trading.
But isn't this the entire point? Why is it permissible for a Senator who is on a committee and who knows, before a public announcement, that the Senate is going to approve a billion dollar program for solar energy, and then buys stock in the two largest solar energy companies?
I am not so sure that the actual instances of this type of trading is as prevalent as the media is making it out to be, but it is certainly outrageous.