Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Congress Tells Court That Congress Can’t Be Investigated for Insider Trading
The//Intercept ^ | May 7, 2015 | By Lee Fang

Posted on 05/08/2015 10:33:45 AM PDT by Brad from Tennessee

In a little-noticed brief filed last summer, lawyers for the House of Representatives claimed that an SEC investigation of congressional insider trading should be blocked on principle, because lawmakers and their staff are constitutionally protected from such inquiries given the nature of their work.

The legal team led by Kerry W. Kircher, who was appointed House General Counsel by Speaker John Boehner in 2011, claimed that the insider trading probe violated the separation of powers between the legislative and executive branch.

In 2012, members of Congress patted themselves on the back for passing the STOCK Act, a bill meant to curb insider trading for lawmakers and their staff. “We all know that Washington is broken and today members of both parties took a big step forward to fix it,” said Rep. Bill Johnson, R-Ohio, upon passage of the law.

But as the Securities and Exchange Commission made news with the first major investigation of political insider trading, Congress moved to block the inquiry. . .

(Excerpt) Read more at firstlook.org ...


TOPICS: Front Page News
KEYWORDS: congress; insidertrading; stockact
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-76 last
To: MeshugeMikey

After a hard night on the Serengeti..

Running with the pack..

Nothing beats a..

Panther Whizz..

Now available with gubamint subsidies&credits and EBT..

and bonuses too..

if ya consume enough of it.. That IS.

Who can resist *+-?


61 posted on 05/08/2015 3:27:17 PM PDT by NormsRevenge (SEMPER FI!! - Monthly Donors Rock!!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: LucyT; melancholy
Congress Tells Court That Congress Can’t Be Investigated for Insider Trading

Ah, so that's how they get so rich so fast.

62 posted on 05/08/2015 3:54:23 PM PDT by azishot (God made man but Samuel Colt made them equal.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: Red Badger

Is she a Democrat?


63 posted on 05/08/2015 4:52:58 PM PDT by 1010RD (First, Do No Harm)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Red Badger

and Boehner and company fixed it as soon as they took over....

elections fix everything


64 posted on 05/08/2015 5:08:45 PM PDT by eartick (Been to the line in the sand and liked it)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Ghost of SVR4

7 years ago, why do you ask?


65 posted on 05/08/2015 5:35:05 PM PDT by Norm Lenhart
[ Post Reply | Private Reply | To 7 | View Replies]

To: Jane Long

Well we are electing them because LESSER EVIL! too...so there’s that. We wouldn’t want to hate our own country by voting for conservatives or nothin’... Cuz I hear that we do unless we WIN with LESSER EVIL!


66 posted on 05/08/2015 5:37:14 PM PDT by Norm Lenhart
[ Post Reply | Private Reply | To 25 | View Replies]

To: dware

Brad,what beyond outright rebellion can one do? I suggest do what a guy I know does. Self-employed / all trans actions done in cash...pre-paid credit card (in a name other than yours) for any on-line purchase....own nothing on paper of great value...pay state owed tax only and let the fed rot in hell...he seems to do ok....no bills / owns everything (in a manner of speaking) outright...and lives a nice life. I should add he is armed to the teeth (so he says) but why would I believe a guy I’ve known for 30 plus years and see constantly?.....he is not not Anti American but in his words “not adding to the underminig of the republic in his small way” seems right to me...fk the fed they are beyond redemption and too infected. KEEP YOUR POWDER DRY !


67 posted on 05/08/2015 6:39:17 PM PDT by mythenjoseph (Separation of powers)
[ Post Reply | Private Reply | To 21 | View Replies]

To: The_Media_never_lie

Yes, but if you notice, more and more people are ignoring the laws and doing what they want anyway... our politicians don’t get that whether they like it or not, they lead by example. They are failing miserably.


68 posted on 05/08/2015 7:16:13 PM PDT by BCR #226 (02/07 SOT www.extremefirepower.com...The BS stops when the hammer drops.)
[ Post Reply | Private Reply | To 39 | View Replies]

To: Brad from Tennessee; LucyT; All

Thanks very much for the post; ping; thread. BTTT!


69 posted on 05/09/2015 7:02:30 AM PDT by PGalt
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brad from Tennessee

IMO the answer is to investigate anyway.


70 posted on 05/09/2015 11:22:18 AM PDT by Mmmike
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brad from Tennessee

outfriggingrageous


71 posted on 05/09/2015 6:10:56 PM PDT by doug from upland (Obama and the leftists - destroying our country one day at a time)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brad from Tennessee

The house changed the rule back shortly after the put on a show.


72 posted on 05/09/2015 7:19:35 PM PDT by VerySadAmerican (I'm very sad for my country. Personally, I've never been happier.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brad from Tennessee

Yep....closer and closer to that fourth box.......


73 posted on 05/09/2015 7:33:51 PM PDT by Forty-Niner (The barely bare berry bear formerly known as Arctos Horribilis.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jack Hammer
Not exactly.

Article I Section 6


They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place.

There is the treason, felony, and breach of the peace exclusion. It's time to call insider trading a felony.

-PJ

74 posted on 05/09/2015 7:43:05 PM PDT by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Political Junkie Too

Safe while congress meets or congressmen commute; other times... no.


75 posted on 05/09/2015 9:56:04 PM PDT by Jack Hammer
[ Post Reply | Private Reply | To 74 | View Replies]

To: prairiebreeze

The legislation was passed but it was watered down so that while sitting legislators and staffs couldn’t use the information, their family members could use it in their own names. Eric Cantor helped push that weasily crafted amendment to that legislation and it was just one of the many reasons why we voters in the 7th put him out of office!


76 posted on 05/10/2015 3:12:02 AM PDT by mdmathis6 (If Hitler, Nazi, OR...McCarthy are mentioned in an argument, then the argument is over!)
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-76 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson