I may have jumped the gun Wednesday by claiming Senator Kirsten Gillibrand was attempting to gut the proposed bill to ban insider trading by members of Congress.

The language in the version of the bill the New York Democrat proposed would have definitely made the law highly ineffective. It would actually greenlighted insider trading by Senators and House members, so long as they didn’t bring in a co-conspirator.

But Gillibrand’s people tell me this is not the intent at all. A spokesman for Gillibrand told me