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 Congressional Insider Trading Bill Clears HousePosted on Feb 9, 2012
Looks like that request President Obama made, in last month’s State of the Union address, to send him a bill to sign that would restrict members of Congress from taking financial liberties in their own investment activities wasn’t just a passing reference to score points with the public. On Thursday, the House of Representatives passed a modified version of a bill that would hold congresspeople accountable for information they might pick up on the job that could be used to inflate their financial portfolios. Next stop: the Senate, where the measure might run into some resistance from lawmakers seeking more stringent standards. —KA
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By vector56, February 10 at 9:03 pm Link to this comment
I am no attorney, nor have I played one on TV; but I have a gut feeling that this new Insider-trader Law is a back door way to cover the rear ends of Law makers who have already engaged is insider trading. Insider trading was illegal for Congress people as well as the rest of us; so why make a new law? I’ll bet you dollars-to-donuts somewhere deep in this new law there is a “retro-active immunity” clause for all Congress people who have violated this law to date. This is just a theory based on past patterns; TARP, Retro-active immunity for the Telecoms; the latest “back door bail out for the Banks for Robo Signing; .....
Report thisBy tom, February 10 at 11:19 am Link to this comment
(Unregistered commenter)
cantor is no hero he took out many provisions out of that bill that held wallstreet and insiders at the whitehouse he pprotected his rich puppetmasters
Report thisBy thecrow, February 10 at 6:21 am Link to this comment
“financial liberties”
http://michaelfury.wordpress.com/2011/11/11/pulverized-to-near-power/
Report thisBy Bacilo de Koch, February 9 at 3:15 pm Link to this comment
Fear not, the Senate will screw it up.
Report thisBy gerard, February 9 at 3:13 pm Link to this comment
They are beginning to get the message—yes?
Report thisThose who say Occupy has done little or nothing aren’t paying attention. Interesting caveat over
members who “broker political intelligence”—whatever that includes or doesn’t include. How to
get rid of lobbying without getting rid of lobbying?