STOCK Act Has Loophole That Could Allow Insider Trading By Congressional Spouses

By: Friday July 20, 2012 12:55 pm

CNN managed to do some news reporting outside of reading viewer Twitter feeds today, and they came up with a loophole in the STOCK Act that would render it fairly meaningless. If you remember, the STOCK Act was the bill that rocketed to passage after allegations of insider trading among members of Congress, using at [...]

More Revelations of Favorable Stock Trading By Members of Congress

By: Monday June 25, 2012 1:00 pm

The passage of the STOCK Act was supposed, in the eyes of Congress, to end all the intense anger over Congressional insider trading. The system worked, in their eyes. A problem was identified and Congress worked to address it. Everyone goes home happy. Except that’s not what happened. In a continuing series, the Washington Post [...]

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 [...]

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 [...]

Senate Moves Forward on STOCK Act

By: Tuesday January 31, 2012 7:35 am

We learned yesterday that it’s very, very difficult for members of Congress to vote to effectively legalize insider trading for themselves. If it wasn’t for that meddling 60 Minutes, this wouldn’t be an issue. But that highlighted the fact that members of Congress could freely trade on information gained during their official duties, even in [...]

Now Everyone in Congress Wants to Pass the STOCK Act

By: Wednesday November 16, 2011 8:17 am

I thought the 60 Minutes piece on insider trading by members of Congress had quite a few holes in it, but it did call attention to the indefensible fact that members of Congress have no restrictions on insider trading. The conceit is that all hearings, votes, etc. in Congress are a matter of public record, [...]

The Tempest Over the Sestak Job Offer

By: Tuesday May 25, 2010 1:56 pm

What the continuing story over Joe Sestak receiving an undefined “job offer” from the Obama White House shows is that the right wing still has the ability to turn whatever they want into a front-page headline. While he was in the White House, Karl Rove practically had a map of the 50 states and a [...]

Dems Put Republicans On Defensive With For-Profit Earmarks Ban

By: Thursday March 11, 2010 6:27 am

Looking to regain the high ground on ethics reform, House Democrats banned budget earmarks for private companies and dared their Republican counterparts to do the same. Earmarks make up less than 1% of the total budget; they would have accounted for $1.7 billion in a $3 trillion dollar budget last year. Nonetheless, they have become [...]

Reports Have Massa Resigning On Monday

By: Friday March 5, 2010 12:38 pm

The Hotline is reporting that Eric Massa will resign on Monday, and cites House Democrats “pressuring” him to leave Congress. Massa has been pressured by House Dems to step aside amid an ethics controversy that caused him to announce earlier this week he would not run for a second term. There’s an open investigation in [...]

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