Posted on 02/04/2012 12:08:15 PM PST by ak267
Last Thursday, the US Senate passed the STOCK Act, legislation that would ban members of congress from insider trading.
From CBS News:
Members of Congress are already subject to insider trading laws. But it is currently within the law for a lawmaker to buy a company’s stock after learning, for example, that an upcoming bill will grant that company a large government contract.
The ultimate fate of the STOCK (Stop Trading On Congressional Knowledge) Act, which comes in the wake of a “60 Minutes” story on potential congressional insider trading, remains unclear – though its prospects are relatively good. Passage in the Senate was complicated by a flurry of amendments added to the legislation, including a proposal that senators be prevented from owning individual stocks unless they are in a blind trust, and another that senators who become lobbyists lose their pensions. Some lawmakers expressed skittishness at the efforts to broaden the scope of the legislation…
(Excerpt) Read more at cbsnews.com ...
Yet they can't pass a simple budget...
you mean NAcy Pelosi’s insider trades in the past WERE LEGAL?
They should make this RETROACTIVE AND JAIL ALL OF THEM
Under what “law” WAS IT LEGAL TO DO THIS BEFORE?
you mean NAcy Pelosi’s insider trades in the past WERE LEGAL?
They should make this RETROACTIVE AND JAIL ALL OF THEM
Under what “law” WAS IT LEGAL TO DO THIS BEFORE?
I’d read the fine print before popping the champagne corks. I’m sure the bill has enough loopholes in it to make it a sham.
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