Thread: Obama signs insider trading ban by lawmakers(edited)

Originally Posted by Ikari

There's a difference between passing a law and upholding that law. I do not suspect that latter to be held to politicians. But hey, maybe they'll surprise me.

Perhaps but it becoming law and the congress being supposedly open to the public, I'm sure watchdogs using the FOIA could get the ball rolling when they decide not to police themselves.

Originally Posted by Ikari

There's a difference between passing a law and upholding that law. I do not suspect that latter to be held to politicians. But hey, maybe they'll surprise me.

You maybe right and nothing may come of this. Right now I am just going to look at the glass half full.

they will just find other ways to profit from their positions...

Originally Posted by soccerboy22

You maybe right and nothing may come of this. Right now I am just going to look at the glass half full.

Yeah, but the government keeps drinking out of that glass.

I don't know, maybe something positive could happen. But I really do not trust government to police itself. I think they like to say the words, but words are wind. I'll believe this when I see large scale enforcement.

Originally Posted by soccerboy22

Maggie, darling, wrong thread

-- Double thanks!!!! How in the WORLD did I do THAT?????

That's the worst thread derail I've EVER seen. Oooo. I can still edit. Thanks again, SoccerBoy. Yikes!

I'm somewhat skeptical. It seems odd for an average person to engage in a practice for a long period of time, then, suddenly, get a huge opposition to it to the point where you quickly ensure it can no longer happen. All the lawmakers are acting like this is some huge breach of justice when just a few months ago they were justifying these same actions. Such a huge change of heart and on such a massive and unanimous scale smells of foul play. I do tend to lean to the skeptic side in most things, though.

Originally Posted by MaggieD

-- Double thanks!!!! How in the WORLD did I do THAT?????

That's the worst thread derail I've EVER seen. Oooo. I can still edit. Thanks again, SoccerBoy. Yikes!

That's it! I'm dropping in a Zimmerman thread to bitch about congressional insider trading. The war is ON!

Originally Posted by Ikari

Yeah, but the government keeps drinking out of that glass.

I don't know, maybe something positive could happen. But I really do not trust government to police itself. I think they like to say the words, but words are wind. I'll believe this when I see large scale enforcement.

Like I said though, a "Public Citizen" or "Judicial watchdog" group can FOIA and burn them down with it now perhaps.

Originally Posted by Republic Now!

I'm somewhat skeptical. It seems odd for an average person to engage in a practice for a long period of time, then, suddenly, get a huge opposition to it to the point where you quickly ensure it can no longer happen. All the lawmakers are acting like this is some huge breach of justice when just a few months ago they were justifying these same actions. Such a huge change of heart and on such a massive and unanimous scale smells of foul play. I do tend to lean to the skeptic side in most things, though.

I already listened to one interview on NPR where one "insider" said that the bill had already been diluted to the point of uselessness. We'll find out soon enough, I suppose.

Originally Posted by poweRob

It's saying that my original thread on this was closed due to me not following the rules and whatnot. To try and refrain from getting more detrimental "points" tacked onto my DP account I started this thread with the title I'm told I have to go by instead of being myself. My bad.

Obama signs insider trading ban by lawmakers

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.

Obama said the move to bar insider trading among lawmakers would assure everyone "plays by the same rules."

"It's the notion that the powerful shouldn't get to create one set of rules for themselves and another set of rules for everybody else," Obama said.
"If we expect that to apply to our biggest corporations and our most successful citizens, it certainly should apply to our elected officials," Obama said.

The new law lets the public see more of government officials' financial dealings yet some members of Congress said it fell short. Lawmakers abandoned an earlier proposal to require public reports from people who gather information from Congress and sell it, mostly to investors.

Like I said in my last post on this, I am shocked that it was signed by Obama because the last I heard was that this bill was blocked by Eric Cantor because he said it was "moving too fast" through congress. Didn't even know congress had passed it.

I am glad he signed this. Law makers should not be above the law. If this bill is not strong enough hopefully they make more legislation to make it stronger.