{"id":10781,"date":"2011-12-10T12:36:14","date_gmt":"2011-12-10T17:36:14","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=10781"},"modified":"2011-12-10T12:36:14","modified_gmt":"2011-12-10T17:36:14","slug":"any-bets-on-where-this-will-go","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=10781","title":{"rendered":"Any Bets On Where This Will Go ?"},"content":{"rendered":"
\"Capital<\/a>

Image via Wikipedia<\/p><\/div>\n

On November 15, I posted an article (rightwinggranny.com<\/a>) thanking Senator Scott Brown for his introductions of the\u00a0Stop Trading on Congressional Knowledge, or STOCK Act, (S.1871) which would clarify insider trading regulations that do not clearly identify whether the use of inside government information constitutes insider trading. On November 15, the bill was read and referred to the Committee on Homeland Security and Governmental Affairs. Hearings were held.<\/p>\n

USA Today<\/a>\u00a0reported on December 6 that the bill could be voted on by the Senate Homeland Security and Governmental Affairs Committee<\/a> and the House Financial Services Committee<\/a>\u00a0on December 14. If the committees vote for the measure, the full Congress could vote on it early next year.<\/p>\n

The article reports that there is some opposition to the bill:<\/p>\n

New York Democratic Rep. Carolyn McCarthy of Long Island said the STOCK Act could leave lawmakers vulnerable to “a witch hunt.”<\/strong><\/p>\n

“It’s flawed, and everybody knows it,” said Rep. Emanuel Cleaver<\/a>, D-Mo. “I hope there’s another way of doing this.”<\/strong><\/p>\n

Cleaver suggested alternative approaches, such as letting lawmakers put their investments into blind trusts handled by professional investment managers, or having the SEC issue guidance letters advising individual lawmakers on what’s legal.<\/strong><\/p>\n

Two Republican freshmen, Reps. Sean Duffy of Wisconsin and Francisco Canseco of Texas, have proposed letting lawmakers choose between a blind trust and reporting financial transactions more frequently.<\/strong><\/p>\n

Duffy’s legislation would require reporting them within three business days. Canseco’s proposal, which would change the internal rules of the House, would require reporting them within five business days after the end of each month.<\/strong><\/p>\n

I think one of the problems here is that for a long time we have expected Congress to police itself, and obviously it has not done a very good job. I am not sure that the current bill is the answer to the insider trading problem, but I can guarantee that doing nothing is not the answer. Congress needs to be under the same laws as the rest of us. It seems as if this bill would move that idea closer to reality.<\/p>\n

\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

On November 15, I posted an article (rightwinggranny.com) thanking Senator Scott Brown for his introductions of the\u00a0Stop Trading on Congressional Knowledge, or STOCK Act, (S.1871) which would clarify insider trading regulations that do not clearly identify whether the use of … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1516,1519,1515,1517,582,1518,1513,1514],"class_list":["post-10781","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-carolyn-mccarthy","tag-congressional-insider-trading","tag-emanuel-cleaver","tag-francisco-canseco","tag-scott-brown","tag-sean-duffy","tag-united-states-house-committee-on-financial-services","tag-united-states-senate-homeland-security-permanent-subcommittee-on-investigations"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10781"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10781\/revisions"}],"predecessor-version":[{"id":10789,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/10781\/revisions\/10789"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}