Friday, December 9, 2011

STOCK Act halted in its tracks WITH bipartisan support!

What's that you say? Bipartisan support for something in Congress? That's great news for the American people right?

The Stop Trading on Congressional Knowledge (STOCK) is stopped in its tracks!

Now that Congressional Republicans and Democrats are working in unison it can only get better for the country from here, right? An end to gridlock and partisan business as usual?

Not exactly!

It will come as little surprise that the one piece of legislation that members of both major political parties could agree on stopping in its tracks had to do with themselves and their own personal wealth.

Certainly nothing that would in any way benefit their constituents, because lay people trading on non-public information would most likely end up in jail!

But, a bill that would close a loophole for lawmakers within the insider trading regulations that involves the legal trading on non-public information had to be stopped!

And why might that be? This is why!

"... Studies have shown the investment portfolios of House members and Senators consistently outperform the market by significant degrees, suggesting they are either miraculously bright and lucky investors or using their access to non-public information when trading..." (CNBC)

Read the full article here.

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