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Congress votes to eliminate key requirement of insider trading law – CNN Political Ticker - CNN.com Blogs
Look! Over there! Abortion, gay marriage and gun control!
I had to learn about this from Jon Stewart, and even then I had to unbury it in a google search so I could link to a mainstream media story, only to find it had already happened on April 11. This shows that when you favor term limits, all you're really arguing about is how many years a congressman is able to secretly profit from insider stock trading.
Bastards.
And before anyone tries to make this a liberal vs. conservative issue, the extensions for the original STOCK act were passed in bipartisan votes and signed by Obama.
Washington (CNN) – The U.S. House on Friday eliminated a key requirement of the insider trading law for most federal employees, passing legislation exempting these workers, including congressional staff, from a rule scheduled to take effect next week that mandated online posting of financial transactions.
Aides to lawmakers insisted the changes were needed to avoid potential security risks to federal employees by revealing personal information.
The House vote followed similar action by the Senate Thursday. The votes were done with little notice and came at a time when most people were paying attention to the Senate’s work on high profile issues like guns and immigration.
One advocacy group pushing for greater government transparency blasted the move, saying it “guts" the law.
"Not only does the change undermine the intent of the original bill to ensure government insiders are not profiting from non-public information, it sets an extraordinarily dangerous precedent suggesting that any risks stem not from information being public but from public information being online,” Lisa Rosenberg of the Sunlight Foundation wrote in a statement,
Look! Over there! Abortion, gay marriage and gun control!
I had to learn about this from Jon Stewart, and even then I had to unbury it in a google search so I could link to a mainstream media story, only to find it had already happened on April 11. This shows that when you favor term limits, all you're really arguing about is how many years a congressman is able to secretly profit from insider stock trading.
Bastards.
And before anyone tries to make this a liberal vs. conservative issue, the extensions for the original STOCK act were passed in bipartisan votes and signed by Obama.