STOCK Act Signed

[ky54]

Something I can agree with:

(Reuters) - President Barack Obama called on Wednesday for stricter controls on lawmakers to confront "the corrosive influence" of money in Washington as he signed into law an insider trading ban he said was needed to help restore trust in the U.S. government.


The Democrat, who is running for re-election in November, said the STOCK Act he signed at the White House made plain that members of Congress using non-public information to improve their personal investment portfolios were breaking the law.


Enforcement of the core stock trading disclosure provisions will begin in July.


http://www.reuters.com/article/2012/04/04/us-usa-obama-congress-idUSBRE83310N20120404

 

[Phokus]

Didn't republicans strip out some of the bill's teeth though?

 

[homercles337]

Agreeing with Obama means that you extreme right-wingers spontaneously combust due to head assplosion.

 

[nonlnear]

Too bad it was gutted first.

 

[senseamp]

Romney's "marvelous" pal Ryan was the one doing the gutting.

 

[monovillage]

Did Obama sign the Bill to counter the "corrosive influence" of money at his usual $35,000 a plate fund raiser?

 

[nonlnear]

Romney's "marvelous" pal Ryan was the one doing the gutting.

I figured everyone knew it was the GOP that did the deed.
That Ryan is being elevated as a symbol of the fresh-faced "new" GOP is hilarious.

 

[Gonad the Barbarian]

Actually it was Cantor who couldn't keep his fingers out of this one.

 

[xj0hnx]

Don't know why, but this bill makes me think of this ..


http://www.youtube.com/watch?v=LaPHPQt91w8

 

[ky54]

Agreeing with Obama means that you extreme right-wingers spontaneously combust due to head assplosion.

Ah, I forgot that anyone who disagrees with anything the One does makes them extremist, racist, bigot, homophobe... etc, etc, etc. You all need to come up with a new schtick.

What was stripped out and is there a grandfather clause for those who hold office now?

 

[homercles337]

Ah, I forgot that anyone who disagrees with anything the One does makes them extremist, racist, bigot, homophobe... etc, etc, etc. You all need to come up with a new schtick.

What was stripped out and is there a grandfather clause for those who hold office now?

Simple question. On the left/right spectrum, where does Obama lie?

 

[Ausm]

Didn't republicans strip out some of the bill's teeth though?

Yes, they did unfortunately.

 

[bfdd]

Repost/Thread Merge

Fern
Super Moderator


http://www.csmonitor.com/USA/Latest...-insider-trading-by-members-of-Congress-video

President Barack Obama signed legislation Wednesday barring members of Congress, the president and thousands of federal workers from profiting from nonpublic information learned on the job, calling it an embodiment of the fundamental American value of fair play.

That's a good move, hopefully it's enforced. I'll have to do some more reading on the STOCK Act though. Wonder what other pork comes along with it.

 

[Hayabusa Rider]

The bill also strips the p ols of retirement upon conviction of a crime. This is one of the better ideas this time around.

 

[xBiffx]

Good job passing it but I think its a meaningless law. No way to possibly enforce it. Too many people make, cut, and take part in deals in DC for insider trading to even be noticeable. Only the extremely obvious or stupid will be targeted by this law. Politicians make a career out of being the opposite, incognito is their middle name.

 

[WackyDan]

The law was not passed as originally written. It was neutered. So while a good step, it doesn't have the teeth that the original bill had...

and that is what you get when the politicians are left to decide what laws they need to comply with or not. Laws like this should be written by a citizen panel and pass or fail vote with no editing by the house or senate.

 

[Doppel]

Law was neutered, needs to be done properly.

 

[monovillage]

Simple question. On the left/right spectrum, where does Obama lie?

He lies about the left, right and center, he'd lie about anything he can. Liars lie, it's what they do.

*edit* oh sorry I guess i missed the point of the post. I'd say he's to the left of center, but his nominees and administration are far, far on the left wing side.

 

[MovingTarget]

Although I wish this act had more teeth (thanks for that, Cantor...), I do feel that it is a step in the right direction. Obama and all that voted in favor (including Republicans) should be commended.

 

[thraashman]

He lies about the left, right and center, he'd lie about anything he can. Liars lie, it's what they do.

*edit* oh sorry I guess i missed the point of the post. I'd say he's to the left of center, but his nominees and administration are far, far on the left wing side.

And to those of us with open eyes, Obama is a little right of center. Most of his admin, nominees, and appointees are center left with a small minority to far left, about an equal small minority to center right, and a few in the centrist. Then again seeing as the current GOP is further right than anything in American history has ever been, I guess for them it's hard to see the center when what would normally be called far right is "socialist" to them.

 

[MomentsofSanity]

Grassley amendment should never have been removed. Eliminated the restrictions against political insiders and scrapped A proposal that allowed federal prosecutors to go after corruption by public officials.

Cantor is an embarassment. STOCK Act is garbage as passed. But hey, at least all my limitations as a restricted person remain fully in place.

 

[Hayabusa Rider]

Grassley amendment should never have been removed. Eliminated the restrictions against political insiders and scrapped A proposal that allowed federal prosecutors to go after corruption by public officials.

Cantor is an embarassment. STOCK Act is garbage as passed. But hey, at least all my limitations as a restricted person remain fully in place.

Haven't seen the final version apparently. Are you saying that inside trading is permitted or are immune from prosecution?

 

[Craig234]

Seems to me what's the driving force behind this is 60 Minutes doing a piece on it - credit where it's due.

Credit to the *Republicans* for gutting it also, apparently - though we can count on the 'moderate' poster above changing that to 'politicians', predictably.

 

[cybrsage]

Can someone post the actual law, so we can discuss what it really does? I do not have time right now to search for it.

 

[lothar]

Didn't republicans strip out some of the bill's teeth though?

They added some AFAIK.
I don't see anything wrong with stripping pensions from politicians found guilty of this act.