Senate Will Pass House Version of STOCK Act, Drop Political Intelligence Measures

By: Wednesday March 21, 2012 6:56 am

The Senate leadership has given up on trying to pass their version of the STOCK Act, instead planning a vote on the House bill that cancels out restrictions on so-called “political intelligence,” among other tougher measures. Senate Majority Leader Harry M. Reid (D-Nev.), in a Tuesday afternoon floor speech, announced that he would not compel [...]

Cantor Brokering House GOP Budget Deal Which Will Reduce Spending Under Cap

By: Thursday March 8, 2012 7:35 am

A very big meeting will take place today between House Majority Leader Eric Cantor and conservative members of the House Budget Committee, over the budget for the next fiscal year. Republicans remained at odds Wednesday over whether to keep the discretionary spending levels set in the August debt-ceiling deal with the White House or to [...]

Cantor Unveils Plan to Fight Tax Cuts with Tax Cuts

By: Monday February 20, 2012 8:55 am

With the payroll tax cut and unemployment insurance extensions completed to the end of the year, most observers don’t expect much action in Congress until the November elections. The fact that you can say that on February 20 is quite sad, but it also happens to be the truth. This Congress has shown no ability [...]

STOCK Act Passes House as Bachus Insider Trading Investigation Begins

By: Friday February 10, 2012 7:35 am

The House passed a watered-down version of the STOCK Act, the bill that would ban insider trading among members of Congress. Democrats supported it in order to get the bill to a conference committee, as it has already passed the Senate. So the final vote was 417-2. The two major changes to the bill made [...]

Insiders and Lobbyists Begin to Gut Congressional Insider Trading Bill

By: Wednesday February 8, 2012 2:54 pm

When the Senate passed the STOCK Act, the bill that bans insider trading on non-public information picked up in Congress (yes, that’s not against the law right now) along with some other ethics reforms, I thought that could be a vehicle that would move expeditiously through the House. However, even though Majority Leader Eric Cantor [...]

STOCK Act Passes After Ethics Add-Ons

By: Friday February 3, 2012 7:03 am

The STOCK Act was a media-driven bill that politicians felt they could not resist after 60 Minutes ran a (somewhat flawed) exposé on the insider trading activities of members of Congress. Once a must-pass bill like that gets into circulation, it’s going to become an attractive target for messaging amendments where members try to hitch [...]

With Obama Endorsement, Insider Trading Ban for Congress Likely

By: Thursday January 26, 2012 8:55 am

One part of the State of the Union I forgot to mention is that the President formally backed legislation that wold ban insider trading among members of Congress. If the Administration has been serious about anything related to financial fraud, it has been insider trading, where they have engaged in multiple criminal prosecutions. And the [...]

The Grandest Bargain – Cantor Floats Kitchen-Sink Christmas Deal

By: Thursday December 1, 2011 8:55 am

I speculated yesterday that you could see a host of additional measures thrown into any deal for the payroll tax cut extension, including all the other expiring measures and even an alternation of the automatic trigger cuts that Republicans want to steer away from the defense budget. That’s exactly the kind of bargain that Eric [...]

GOP Stance on Payroll Tax, Unemployment Extension More About Perception and Blame-Gaming

By: Wednesday November 30, 2011 11:35 am

John Boehner has now come out in “support” of a payroll tax cut extension, much as Mitch McConnell did yesterday. But like McConnell, Boehner appears to be adding a caveat for no reason other than to have a plausible excuse when the whole thing doesn’t pass: “We’re going to continue to seek common ground on [...]

60 Minutes Loses Credibility on Congressional Insider Trading Story

By: Monday November 14, 2011 8:57 am

I found last night’s 60 Minutes story on insider trading in Congress to be uneven, partially underwhelming and at times outright misleading. That Congress has access to insider information and does not have to sequester off their stock trades in ways that would allow them to profit from this information is beyond dispute. The simple [...]

Cantor Cancels Speech on Inequality Because Too Many Unequal People Would Be in Attendance

By: Friday October 21, 2011 11:32 am

Prodded by the Occupy Wall Street protests, Eric Cantor announced that he would deliver a speech on inequality at the Wharton School of Business in Philadelphia. The Philadelphia arm of the OWS protests, Occupy Philadelphia, planned to march to the site. Then Cantor learned that the first 300 members of the public to show up [...]