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House passes bill against congressional insider trading

Discussion in 'Political Discussion' started by Holy Diver, Feb 9, 2012.

  1. Holy Diver

    Holy Diver Rookie

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    WASHINGTON (Reuters) – The House of Representatives overwhelmingly passed on Thursday a bill to curb insider trading by lawmakers and other government officials, despite objections from both Democrats and Republicans that it was weaker than a version passed by the Senate last week.

    The House voted 417-2 to pass the Stop Trading on Congressional Knowledge (STOCK) Act, even though it did not include a provision to impose new regulations on Washington insiders who collect “political intelligence” from lawmakers and sell it to Wall Street. The Senate version included this proposal.

    http://www.rawstory.com/rs/2012/02/09/house-passes-bill-against-congressional-insider-trading/

    Voting against the bill were Reps. John Campbell, R-Calif. and Rep. Rob Woodall, R-Ga.
    Last edited: Feb 9, 2012
  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    That is good news, now we will see how it is regulated.
  3. Ilikehappyppl

    Ilikehappyppl Rookie

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    WOW!

    This is great news! I'm in shock.....:eek:
  4. Real World

    Real World Moderator Staff Member

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    I completely support the intent of the bill. Should have been law a long time ago. What I'm curious of, is whether or not this is a paper tiger, or something with actual teeth to it. For some reason I feel it is perfume on a pig.
  5. Holy Diver

    Holy Diver Rookie

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    of course its a fragrance....

    "even though it did not include a provision to impose new regulations on Washington insiders who collect “political intelligence” from lawmakers and sell it to Wall Street"
    Last edited: Feb 9, 2012
  6. chicowalker

    chicowalker Rookie

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    step in the right direction, though I don't understand the rationale for Kantor's change

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