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Originally posted by: jatki99
Seriously? you'd be surprised PJ? I sure as hell wouldn't, not in the least.
Originally posted by: jatki99
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Originally posted by: pjstrohQuote">https://www.commondreams.org/news/2013/04/17/congress-and-obama-quietly-collude-undo-insider-trading-law[/Q
Originally posted by: ecomstoc
Insider trading law doesn't seem like much of a step forward. Per link: "Without the provisions, the STOCK act is made toothless," writes Dan Auble with the Center for Responsive Politics. "Insider trading by members of Congress and federal employees is still prohibited, but the ability of watchdog groups to verify that Congress is following its own rules is severely limited because these records could still be filed on paper—an unacceptably outdated practice that limits the public's access. This is not true disclosure."
The law can be improved but I disagree with your conclusion. "Watchdog groups" dont play much of a role in identifying insider trading and it would be impossible to give them that transparency without revelaing the investment holdings of all members of Congress.
The SEC enforces insider trading laws and can identify people who buy into stocks ahead of big news. Ask Martha Stewart.
If a member of Congress sits on a committee that awards a defense contract it would be easy to charge them with insider trading if they bought shares of that company prior to the contract going public.
I'd be surprised if any such trading is happening since the law was passed.
Seriously? you'd be surprised PJ? I sure as hell wouldn't, not in the least.
Let me put it this way....it would be incredibly stupid and easy to get caught. Are there incredibly stupid members of Congress? Touche. The new law does not cure stupidity - it simply punishes it.
