I don't understand how this conversation wasn't "hey guys, we just realised that elected representatives who make laws and are privy to all sorts of classified information that the public and often the markets don't have are actually allowed to trade on the stock market, should we do something about that?"
"freak yes of course we should, how did the founding fathers miss that?"
And thus the legislation was passed by lunchtime and they carried on with all sorts of other far more complex and nuanced things.