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Senate passes insider trading ban

apdst

apdst

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WASHINGTON (AP)–Sagging approval ratings brought Democrats and Republicans together Thursday, as the Senate passed a bill to explicitly prevent members of Congress, their top aides and administration officials from using non-public information for insider trading. New disclosure requirements will require public reports online within 30 days of buying and selling stock.

The 96-3 vote sent the bill to the House, where Majority Leader Eric Cantor said the legislation would be considered next week.

Senate passes insider trading ban
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This bill passed waaaaay to easily, which tells me that they're just going to ignore the hell out of it.

This is the biggest joke of a bill since they passed the bill that mandated that cell phone chargers all have the same style of plug.
 
This is good news.Hopefully it becomes law.The same rules that apply everyone else should apply to elected officials.
 
Yes, I wonder about enforcement but it's still better than doing nothing I suppose.
 
:lol: I like it, they couldn't really vote against it without being suspected of insider trading.
 
The problem here is, we are only looking at ONE facet of the problem, and there are about 50 more facets.
 
apdst said:
This bill passed waaaaay to easily, which tells me that they're just going to ignore the hell out of it.

This is the biggest joke of a bill since they passed the bill that mandated that cell phone chargers all have the same style of plug.
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From what I understand.. there is a big ass loophole. If the money is invested in a widely held fund then this insider trading ban does not apply. So they can just put their money in widely held funds ahead of a big spike in some stocks.. and it is still legal and it is still insider trading.
 
And it still fails to address the multitude of other ways companies can reward legislators for legislating in favor of said companies.
 
Objective Voice said:
Such as? Please explain. What are the rest of us missing?
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Almost all of our "appointed" positions...those who get their jobs via a "choosing" by the elected reps...are former big corp cronies, from the likes of Goldman Sachs, Koch bros, etc. And a vast many of our elected reps, after their terms, get jobs AT said large corps...very high paying, cushy type jobs. Look this up for yourself, if you don't believe me.
 
If they passed it with the intent of actually following/enforcing it, they should have added a rider providing funding for a new jail to house them.
 
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