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View Diary: Pres Obama Signs Bill Killing Anti-Corruption, Pro-Transparency STOCK Act Provisions (284 comments)

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  •  The STOCK Act is a joke. (5+ / 0-)

    "Inside" information insofar as this bill goes refers to Congressional bills that are in process and whether one is likely to pass or not and benefit a corporation all the while running the stock price up or down.

    Regular insider trading has always been illegal for Congress and the Executives.

    We already have indirect campaign contributions by corporations with no risk to the Congressman.  Let them buy stock and actually lose something - I don't care.

    Nancy Pelosi famously held Visa stock and voted against their interest in a bill.   She was a top target of this bill.

    "The way to see by faith is to shut the eye of reason." - Thomas Paine

    by shrike on Tue Apr 16, 2013 at 05:12:45 AM PDT

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    •  The point (4+ / 0-)
      Recommended by:
      congenitalefty, Tool, JesseCW, Jim P

      is to get the financial conflicts of interest information totally out there and transparent so we can more easily keep an eye on Congress and the power interests.

      yes of course insider trading is illegal for congressmen anyway, but have you read the Schweizer's work (sure, he's more of a right-wing guy, but he's a legit Stanford researcher who blew up these issues)?

      these efforts at transparency help us get the truth, the information disclosed, publicly searchable on the internet.

      then once we got the information we can choose what to do with it, whether we think action needs to be taken, etc.

      just because the STOCK Act wasn't perfect, that's no reason to say "oh let's just rewrite it so it's toothless and forget about trying to address the influence of money in politics".

      that's a defeatist attitude that I don't support.

      Deficits don't matter, jobs do.

      by aguadito on Tue Apr 16, 2013 at 05:36:40 AM PDT

      [ Parent ]

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