Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 338

Shows the true power of the people

Posted by fidest press agency su mercoledì, 4 aprile 2012

Washington (MarketWatch) By Ronald D. Orol. President Barack Obama plans on Wednesday to sign a law designed to curtail insider trading of securities by lawmakers and executive branch officials. The legislation, known as the STOCK Act, was approved by the Senate last month. It prohibits lawmakers and their families and staff from buying and selling securities based on their possession of nonpublic information. The legislation comes after a recent report on CBS’s “60 Minutes” that highlighted details about alleged insider trading by both Democratic and Republican lawmakers. That report was inspired by “Throw Them All Out,” a book published in November. It also requires lawmakers and a broad group of executive-branch and agency officials to report securities transactions to searchable online databases. Schweizer on the STOCK Act: “The passage of the STOCK Act is just the first battlefield victory in this war for reform. The STOCK Act makes congressional insider-trading illegal. But let’s be clear: it alone doesn’t go nearly far enough to deal with the problems of cronyism and corruption that we face in American politics.The American people learned about Congressional insider trading by watching the 60 Minutes piece and reading Throw Them All Out. They got angry. They called Congressional offices. They got this done. This is a terrific first step, and I am proud of what we were able to do.”
More information, from The Wall Street Journal’s Market Watch:


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