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TYT: Government Sneakily Repeals Its Own Insider Trading Law

submitted by radx

1 decade 1 year 11 months ago

"President Obama quietly signed legislation Monday that rolled back a provision of the STOCK Act that required high-ranking federal employees to disclose their financial information online.

The White House announced Monday that the president had signed S. 716, which repealed a requirement of the Stop Trading on Congressional Knowledge (STOCK) Act requiring the disclosure, which had previously been delayed several times by Congress." -- YT

7 Comments

Bastards.

charliem says...

mother fuckers....no wait.....entire population fuckers, they fuck us all over. Every one of us.

I hate this guy, the stock act wasn't so much about insider trading, the stock act was an effort to prevent congress from voting based on the stocks that they held. The reason it made sense to exempt staffers from this bill is because THEY CAN"T VOTE ON BILLS. Why the hell do staffers have to report what stocks they are selling? And this doesn't prevent anyone from actually buying or selling stock, just means you can be held accountable for what stocks you buy.

Moving this video to radx's personal queue. It failed to receive enough votes to get sifted up to the front page within 2 days.

*controversy

Adding video to channels (Controversy) - requested by MrFisk.

Wait, I thought the stock scandal was because elected officials could do insider trading and it wasn't illegal. It was always illegal for the staff members.

What I hear in this is that the on-line database of personal stock transactions is being repealed for the staffers. The database will be there for the elected officials.

And it is still illegal to do insider trader for elected officials -- which is the real disgusting thing which the stock act took care of.

Unless I don't understand something?

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