Obama Signs Congressional Insider Trading Ban; Compares To Occupy Wall St Agenda

Obama Signs Congressional Insider Trading Ban; Compares To Occupy Wall St Agenda
Breitbart Video

Obama signed the STOCK Act finally.

It makes it illegal for many many federal employees and families to profit
from insider trades.

'Bout time !!

The video show onlookers smiling on the outside and crying on the "inside"

In a ceremony at the White House, President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act into law.

The STOCK Act makes it illegal for members of Congress and their families and staff, along with members of the executive branch and federal employees, to profit from trading securities using nonpublic information.

The issue of congressional insider trading was brought to light last fall through the book "Through Them All Out" by Breitbart Editor Peter Schweizer.

He's launching his socialist agenda!

Be afraid.

reply to post by xuenchen


My question is, how the hell, no, why the hell were they allowed to partake in insider trading to begin with? Seriously, how does that happen for so long and we're just now finding this out, to the point where Obama signed something into law, which we all know they won't follow anyway.

So how is it they are above the law but Martha Stewart goes to jail?

Good.

Why is he doing something good?

Must be a catch.

reply to post by braindeadconservatives



Socialist agenda? He has banned federal employees from making money on insider trading, Just like in the private sector. Like every other free country in the world. Finally,a law taking away substantial perks that law makers gave themselves. This may be the best thing President Obama has done! Socialism has nothing to do with removing corrupt laws!

reply to post by Swills


Why was congress allowed to do this before?

The answer is simple, the con of the free markets, eliminating the laws that prevent fraud.

It is a step forward against corruption, but a small step.

Originally posted by braindeadconservatives
He's launching his socialist agenda!

Be afraid.

What does that even mean? Please, explain yourself.

Actually the bill was actually stronger than the one that made it to his desk...but the GOP house watered it down.

Better than nothing though.

reply to post by Swills

What does that even mean? Please, explain yourself.

That was sarcasm. You do know that anything and everything Obama does is a Marxist Socialist Kenyan plan to destroy America right?

reply to post by David9176


Ah, I see, sarcasm. Now it makes sense. Yeah, who isn't aware that so many people accuse Obama of being a socialist.

Obama signed the STOCK Act finally.

He would have signed it earlier but Eric Cantor, the GOP leader, wanted to first undermine the bill by weakening it.

FYI, it's always been illegal to engage in insider trading, no matter who does it, this just calls out govt employees especially since they have the deepest insider connections. But don't worry, after Cantor's cowardice on this bill, they'll still be able to cheat the stock market and get away with it.

Well, he's finally gone and done it. Obama has really done something. For all those who say I just blindly hate the man and can't see anything he does as right, well...here is that exception to make the rule. First, I was all for him deploying Spec Ops troops to hunt down and obliterate the Lord's Resistance Army. Check #1.

Check #2, Obama has passed one of the better bills...on the face of it...that I think he's had in his term. I wish this could have come 3 years ago, but heck..that is no reason to rain on Obama's parade. He DID do it right for this one and until Congress passes new garbage to make ways around it, he's done the best a President CAN do on this particular bit of corruption.

i

Originally posted by braindeadconservatives
He's launching his socialist agenda!

Be afraid.

This POTUS will sign Anything! What a puppet! And our Canadian leader is no different! These guys are blatant tax payer,tax sucking, teat sucking puppets and liars about Everything!

Question. If no one voted, what party would rule? The elitists, that's right! It would be called Martial Law. Just for our protection. Plus the Lobbyists will have their" Fini de tait".. I think that's how it goes? Lobbyists groups are the tic of our democracy!

There are alot of intelligent people here at ATS! But unfortunately too many derailers.
The Kharma here at ATS, could be cut like a knife! The distortionists of threads, are many and are sad, but sometimes angry. At least we have been warned/ smiley face.

The Zoo is being run by the "monkeys"..ahaha, I couldn't resist.

Like my father, I am probably being looked into..the cybernet patrol is vast!

."they" did vist my dad after he posted what a Jackass our Canadian Prime Minister Jean Chretien was to his PMO site..(Prime Ministers Office)..lol..my father stated Chretien was a pig at the trough of the Lobbyists and deserved no more respect than that of a pig..yeah he was visited by the RCMP the next day to determine his threat status.

What a bunch of scaredy cats!

Dad is Untouchable..and will continue to voice his opinion, which our Veterans fought and died for!
He does regularly when needed in our community..and here on ATS, we are lucky to share the same LIBERTIES!
Oh yes, we are both Veterans btw.

Originally posted by kawika
Good.

Why is he doing something good?

Must be a catch.

edit on 4-4-2012 by kawika because: corectolated spel'n err

Its an election year...
The economy sucks...
Members of Congress are raking in the cash from insider trading...

The only entity that has a lower approval rating than Obama's is Congress. People complain about the double standard government has. Why not seize the issue and take to the field?

Its win win for Obama...
He is now viewed as open to working with Republicans..
His name is on legislation that holds Congress accountable...
He can claim a victory for financial reform...

Best of all he can use it against Republicans since he constantly links them to big business.

This WAS a bipartisan act, until Rep. Cantor decided to torpedo it. Stop with the "damned if he does, damned if he doesn't" nonsense regarding Obama and start holding Congress itself responsible for it's actions, last time I cheked they are all supposed to be respoinsible adults.

Originally posted by kawika
Good.

Why is he doing something good?

Must be a catch.

edit on 4-4-2012 by kawika because: corectolated spel'n err

you know that was my first reaction, like where did this come from????????????????

my guess is reaching for votes and he's actually cashing in on the cash in kings. it's a mysterious world we live in and i for one can admit i have no real knowledge of who's who or whats what in this mess. i have theories, i have data, i have instinct but it's such a crazy mess right now it's hard to tell who the good guys are anymore.

reply to post by xuenchen


Read the details.

Lets say a member of congress ignores the Insider Trading Ban and does it anyway.

What happens?

Do they get prosecuted by the Justice Department or do they simply get slapped on the

wrist by some internal committee?

reply to post by David9176

Actually the bill was actually stronger than the one that made it to his desk...but the GOP house watered it down.

Better than nothing though.

reply to post by RancorXXX

This WAS a bipartisan act, until Rep. Cantor decided to torpedo it. Stop with the "damned if he does, damned if he doesn't" nonsense regarding Obama and start holding Congress itself responsible for it's actions, last time I cheked they are all supposed to be respoinsible adults.

Would it be possible for either of you to show us the goods on this ?

Most people are probably aware of the changes, but can you quote those changes ?

All the versions must be on record somewhere.


Just the same however, the blinding exposure on the insider trading was so bright,
they had no choice but to somehow "outlaw" it.

reply to post by xuenchen

Democrats said that House Republican leaders had weakened the Senate-passed bill by stripping out a provision that would, for the first time, regulate firms that collect “political intelligence” for hedge funds, mutual funds and other investors. Under the Senate bill, such firms would have to register and report their activities, as lobbyists do.

So in other words, insider trading can easily still happen and will after the bill was signed. Striking down this provision basically protects the same SOB's that tanked the economy in the first place.
crooksandliars.com...

reply to post by David9176


Perhaps.

But we would still like to see the actual language in the bill.

Sometimes that can change the spirit and meaning with only a word or two.

I don't doubt that somebody will find the back door to profit anyway they can.