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STOCK Act advances in the Senate

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posted on Jan, 31 2012 @ 01:35 AM
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congressional insider trading."


By a vote of 93 to 2, the Senate agreed to proceed with debate on the Stop Trading On Congressional Knowledge, or STOCK Act. The legislation specifically prohibits federal lawmakers from trading stocks based on nonpublic information they have obtained in the course of their congressional work.


CBS news SOURCE


The issue of "insider trading" in Congress came to the fore after a piece on CBS News' "60 Minutes" shed new light on the matter, and in his State of the Union address, President Obama called on members of Congress to send him "a bill that bans insider trading by members of Congress; I will sign it tomorrow."


same source

so the first in many of bills required to remove undue influence on politicians,
the stock act makes it a crime to trade on insider information or privledged information gathered while serving the american public in office,

i hope this passes followed by an anti lobbying act,
and the repeal of citizens united.

for a republic to function the representitives MUST be beyond reproach



this STOCK ACT is the first of many people driven acts to be drawn up at the moment, for the benifit of people and democracy in your democratic republic.

i thank the honesty of the congressman who brought this bill to the floor,
(not an indorcement of acual congressman)

watch this space ATSers

xploder
edit on 31-1-2012 by XPLodER because: (no reason given)




posted on Jan, 31 2012 @ 02:04 AM
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So who enforces this law?



posted on Jan, 31 2012 @ 02:24 AM
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I might not be right but couldn't certain members of congress use this against others for leverage ( blackmail) against others to vote either yes or no to what ever they wanted using this bill as a source of manipulation? I mean less has been used for far worse results in the past so I figured I wld throw it out there.



posted on Jan, 31 2012 @ 02:46 AM
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Well right now it still has yet to be amended. I already know Sherrod Brown will be pushing an amendment to strengthen it. What actually happens to it will be interesting because they have to know people are watching and their jobs are on the line. And to be fair this isn't the only time in history a few congressmen have tried to pass legislation to help stem the corruption. I was more surprised that more than 61 signed onto this bill, I had to go look outside to make sure the world was still there.



posted on Jan, 31 2012 @ 02:49 AM
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Originally posted by Ghost375
So who enforces this law?


That doesn't matter, as long as there is a law to enforce, action can be taken.



posted on Jan, 31 2012 @ 02:52 AM
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I've already got this going on on over in the Breaking News Section! Great minds think alike!



posted on Jan, 31 2012 @ 03:12 AM
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Originally posted by MystikMushroom
I've already got this going on on over in the Breaking News Section! Great minds think alike!



oops
thanks man
mods if you would


xploder



posted on Jan, 31 2012 @ 11:11 PM
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Wow, I'm floored. It is only a tiny drop in an impossibly large bucket, but at least it is something. Does this even stand a chance of getting through?



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