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Congressional Insider Trading Bill Gains Amendments, Support

February 2, 2012 by  

Congressional Insider Trading Bill Gains Amendments, Support

Senator Rand Paul (R.-Ky.) introduced on Tuesday amendments to the Stop Trading on Congressional Knowledge (STOCK) Act that the lawmaker says would bring an end to the revolving door between Federal employees and companies seeking Federal loans.

“These amendments are recognizing what the authors of these bills have been discussing, that people should not profit off of their involvement in government. They shouldn’t profit off of special relationships. They shouldn’t profit off of special knowledge they gain in the function of serving the people,” Paul said on the Senate floor.

Paul said that the bill should apply to the current Presidential Administration, “…I don’t believe people who are multimillionaires and billionaires should use the apparatus of government as was used in the loans that were given to Solyndra by someone who is profiting off of their relationship and ties to the President, profiting off of people who used to work for these companies now, who are now employed in the administration and using these connections to get taxpayer money to go to private individuals.”

The bill, which would put provisions in place to end Congressional insider trading, has had healthy support in the Senate; and House Majority Leader Eric Cantor (R-Va.) plans to bring a version of STOCK to his chamber later this month.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • Ted Crawford

    Given that this is an election year this bill might, might make it into law, they can always gut in the future! What I really expect however is that at some point, someone will “discover” some fatal flaw in it!

    • Shell

      Let us hope they put a prevision that stops them from receiving IPOs and other types of stock options.

  • No fool

    You you want to really stop insider trading, you must stop Congressman from owning any stocks. It’s called “conflict of interest”.

  • dan

    This needs 2 b retroactive,w/ criminal penalties,immediate imprisonment,immediate seizure & freezing
    of assets,constantly put on the tv w/ pictures & the standard “tried by the media” treatment.. This is the way it is done 2 common citizens by IRS & all the other alphabets. The Constitution says”No elected official shall have any more standing in the law than any ordinary citizen”.
    When did insider trading become legal? Was it a executive order?
    I really want an answer to this so our “Constitutional Republic of WRITTEN LAW” can b enforced, as written.!!

  • Sirian

    Hopefully this will make it through but as to the amount of time it would be kept in place before being over-rode by another amendment or a new “ACT” of some sort is hard to say. As long as we maintain the same “life long” politicians in office the greater the risk of this, and others also, will be very short lived.

  • Barbara Holmes

    The Libs intend to destroy the nation through control…of our resources. God gave us resources, oil, gas, forests, water, and the libs have figured the way to deny us. It is God that we need. If we do not restore a Christian nation, we will lose it all. Romney’s family had to flee our country because of breaking our law and God’s law. That’s why his family owns at least one Mexican town. With him we will be no better off than with our current Marxist. It is God that we need.

    • RichE

      Why Christianity? Your point, if God is the answer then why not any monotheistic religion? Why not Islam? My question: how would you insure purity? If by chance you had a pedophile would you ignore, cover up, transfer. Would you self-police or rely on God? Where God in (her, his, its) self maybe the answer, humans administer God and that will prevent from being perfect.

      • APN

        I think he/she was speaking about the “Spirit” of GOD that indwells our minds and hearts. I agree that we need to turn back to our Christian ways, our foundation, as understood by those great men and women before us.

        Simply put, what we see today is a complete absolute moral decay of our founding principles. I’ve been here over a 1/2 century, and what I see young folks doing(Adults as well), doesn’t even remotely resemble the country I grew up in. Most of them look like and act like a bunch of wild animals without a soul.

        Sex, drugs and crime dominate our social culture and Washington DC. Nobody gives a flying flip about their neighbor or this country. They are completely consumed with self-gratification without any regard to their fellow man.

        Washington cannot be fixed until WE THE PEOPLE turn back to the high standard of moral principles as our founders so wisely understood. What we have in Washington now is simply a representation of who we really are or who we have become. Heck, half the population now believes that AMERICA is the scourge of the planet and they spend the better part of their day slandering the very gift of FREEDOM GOD so freely gave us.

        We don’t need a pastor as our President, however, we do need a man or woman that understands where our freedoms flow AND what those founding principles MEAN.

        This country is doomed for total destruction and the constitution will not save us. WE can stop this but it is very unlikely at this stage in the game.

        May GOD help us!

  • Wyatt

    Oh Rand , now you’ve done it . Nancy Pelosi is gonna be pissed . I guess she’ll be sicking the TSA on you a lot from now on .

    • Joan White

      Rand, you go and do whatever you have to. Yes Pelosi will be ticked or maybe she gets up that way. TSA will give you a bad time. That’s the only way they can give you a bad time and make your life Hell.

  • CommonSense4America

    ALL laws should apply equally to congress and “we the people”.

    • APN

      Yep! That’s what the constitution says…… Oh well!

  • Gringo Infidel

    This guy should be POTUS rather than his Dad.

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