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Congress Exempts Themselves from "Insider Trading"


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IMO...it's starting to not matter anymore if you're a republican or democrat.....

As an American, our civil liberties and future way of life are at great risk....and staying with the republican/democrat illusion will only cloud our judgement to work TOGETHER to actually fight against this garbage. As far as I am concerned....being separated by republican/democrat political models only tears apart from what's really important...

 

The Republicans and the Democrats are trying to get you to buy into hating the other side so that you will support theirs and give your money to helping them keep the enemy at bay...

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And those of you, republican or democrat, need to wake up and realize that those who govern you, and make your laws, do not care about you or your well being. They only care about your vote, you buying into their bullsh*t, and the money they will make off of you...

And fixing their problems before yours. The Daily Show had a pretty funny segment on why they may have fixed the damage the sequester did to air traffic control. The main point being that they only fixed it because they all had to fly home the next day for their vacation. I'm sure it's not entirely true but it is funny to think that they can actually hash out a bill in a couple days and enact it with hand written parts, but they can't be bother to regulate themselves or worry about the well being of others.

And that also worries me....greatly....

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IMO...it's starting to not matter anymore if you're a republican or democrat.....

As an American, our civil liberties and future way of life are at great risk....and staying with the republican/democrat illusion will only cloud our judgement to work TOGETHER to actually fight against this garbage. As far as I am concerned....being separated by republican/democrat political models only tears apart from what's really important...

 

The Republicans and the Democrats are trying to get you to buy into hating the other side so that you will support theirs and give your money to helping them keep the enemy at bay...

An illusion.....a distraction....

I always told people....if Obama or Romney gets elected...it's not going to matter....sh#t is still going to hit the fan. American's are going to still have their civil liberties taken away....a form of "Obamacare" would be enacted regardless if Romney got elected. "It's all one big f'ing club! And you ain't in it!" -George Carlin

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IMO...it's starting to not matter anymore if you're a republican or democrat.....

As an American, our civil liberties and future way of life are at great risk....and staying with the republican/democrat illusion will only cloud our judgement to work TOGETHER to actually fight against this garbage. As far as I am concerned....being separated by republican/democrat political models only tears apart from what's really important...

 

The Republicans and the Democrats are trying to get you to buy into hating the other side so that you will support theirs and give your money to helping them keep the enemy at bay...

An illusion.....a distraction....

I always told people....if Obama or Romney gets elected...it's not going to matter....sh#t is still going to hit the fan. American's are going to still have their civil liberties taken away....a form of "Obamacare" would be enacted regardless if Romney got elected. "It's all one big f'ing club! And you ain't in it!" -George Carlin

 

Its amazing how right George Carlin is in pretty much everything he says. The richest of the rich keep us peasants squabbling about minor issues and party delegations while they just keep accumulating more and more money like its a video game.

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http://www.examiner....r-criminal-acts

 

And people continue to blindly trust their government at all times and praise Obama when garbage like this happens....

Enjoy! Discuss!

 

In the interest of having a factual discussion about this topic, I think some facts need to be corrected.

  1. Insider Trading has always been legal by Members of Congress until March of 2012 with a bill was passed and signed by Obama.
  2. In April of 2013, they removed the on-line reporting requirement for staffers NOT left the on-line reporting requirement for Members of Congress.
  3. The new change DOES NOT exempt members of congress from insider trading rules NOT does it make it alot more difficult for members of the public to catch them in the act.

 

Prior to 2012:

 

lawmakers can use market-moving information that they learn in congressional committees to trade on the stock market

icon1.png

— actions that likely would carry stiff jail and civil penalties if they did not hold public office.

[/left]

In one example, Steve Kroft reports that Rep. Spencer Bachus (R-AL), now the chair of the House Financial Services Committee, bet against the market in the days before the 2008 financial crisis hit — after getting 'apocalyptic briefings' from Fed Chairman

Ben Bernanke and then-Treasury Secretary Hank Paulson.

[/left]

 

 

 

In 2012, the House and Senate passed 'the STOCK Act designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees.'

 

As a reply above points out, the recent change ONLY:

Nullifies "mandatory public, on-line financial disclosure reporting by congressional staff (except Members of Congress and congressional candidates) and executive branch officers and employees (except the President, the Vice President, and officers at levels I and II of the Executive Schedule who require nomination by the President and confirmation by the Senate).

[/left]

Applies the financial disclosure reporting requirements and restrictions of the STOCK Act only to Members of Congress, congressional candidates, the President, the Vice President, and executive branch officers at levels I and II of the Executive Schedule who require nomination by the President and confirmation by the Senate."

[/left]

 

So while the Daily Show is spot on that the bill was gutted, the gutting only applies to staffers, not members of congress.

 

So, to clarify:

  1. Insider Trading has always been legal by Members of Congress until March of 2012 with a bill was passed and signed by Obama.
  2. In April of 2013, they removed the on-line reporting requirement for staffers NOT left the on-line reporting requirement for Members of Congress.
  3. The recent change DOES NOT exempt members of congress from insider trading rules NOT does it make it alot more difficult for members of the public to catch them in the act.

And that's the facts, Jack.

 

http://www.scribd.com/doc/136512006/STOCK-Act-Redline

  • Fire 1
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http://www.examiner....r-criminal-acts

 

And people continue to blindly trust their government at all times and praise Obama when garbage like this happens....

Enjoy! Discuss!

 

In the interest of having a factual discussion about this topic, I think some facts need to be corrected.

  1. Insider Trading has always been legal by Members of Congress until March of 2012 with a bill was passed and signed by Obama.
  2. In April of 2013, they removed the on-line reporting requirement for staffers NOT left the on-line reporting requirement for Members of Congress.
  3. The new change DOES NOT exempt members of congress from insider trading rules NOT does it make it alot more difficult for members of the public to catch them in the act.

 

Prior to 2012:

 

lawmakers can use market-moving information that they learn in congressional committees to trade on the stock market

icon1.png

— actions that likely would carry stiff jail and civil penalties if they did not hold public office.

[/left]

In one example, Steve Kroft reports that Rep. Spencer Bachus (R-AL), now the chair of the House Financial Services Committee, bet against the market in the days before the 2008 financial crisis hit — after getting 'apocalyptic briefings' from Fed Chairman

Ben Bernanke and then-Treasury Secretary Hank Paulson.

[/left]

 

 

 

In 2012, the House and Senate passed 'the STOCK Act designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees.'

 

As a reply above points out, the recent change ONLY:

Nullifies "mandatory public, on-line financial disclosure reporting by congressional staff (except Members of Congress and congressional candidates) and executive branch officers and employees (except the President, the Vice President, and officers at levels I and II of the Executive Schedule who require nomination by the President and confirmation by the Senate).

[/left]

Applies the financial disclosure reporting requirements and restrictions of the STOCK Act only to Members of Congress, congressional candidates, the President, the Vice President, and executive branch officers at levels I and II of the Executive Schedule who require nomination by the President and confirmation by the Senate."

[/left]

 

So while the Daily Show is spot on that the bill was gutted, the gutting only applies to staffers, not members of congress.

 

So, to clarify:

  1. Insider Trading has always been legal by Members of Congress until March of 2012 with a bill was passed and signed by Obama.
  2. In April of 2013, they removed the on-line reporting requirement for staffers NOT left the on-line reporting requirement for Members of Congress.
  3. The recent change DOES NOT exempt members of congress from insider trading rules NOT does it make it alot more difficult for members of the public to catch them in the act.

And that's the facts, Jack.

 

http://www.scribd.com/doc/136512006/STOCK-Act-Redline

I DOES NOT completely NOT understand almost NOT everything you said! :facepalm:
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i should not post from my phone while on a rollercoaster. I'll try this again, with my edits in CAPS.

  1. Insider Trading HAD always been legal by Members of Congress until March of 2012 WHEN a bill was passed BY THE HOUSE AND SENATE and signed by Obama.
  2. In April of 2013, CONGRESS removed the on-line reporting requirement for staffers BUT LEFT IN THE ORIGINAL on-line reporting requirement for Members of Congress.
  3. The recent change DOES NOT exempt members of congress from insider trading rules AND DOES NOT make it alot more difficult for members of the public to catch them in the act. (However it does make it harder for members of the public to catch congressional staffer in the act.)

I hope that helps.

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IMO...it's starting to not matter anymore if you're a republican or democrat.....

As an American, our civil liberties and future way of life are at great risk....and staying with the republican/democrat illusion will only cloud our judgement to work TOGETHER to actually fight against this garbage. As far as I am concerned....being separated by republican/democrat political models only tears apart from what's really important...

 

The Republicans and the Democrats are trying to get you to buy into hating the other side so that you will support theirs and give your money to helping them keep the enemy at bay...

An illusion.....a distraction....

I always told people....if Obama or Romney gets elected...it's not going to matter....sh#t is still going to hit the fan. American's are going to still have their civil liberties taken away....a form of "Obamacare" would be enacted regardless if Romney got elected. "It's all one big f'ing club! And you ain't in it!" -George Carlin

 

Its amazing how right George Carlin is in pretty much everything he says. The richest of the rich keep us peasants squabbling about minor issues and party delegations while they just keep accumulating more and more money like its a video game.

If Bill Hicks was still around, he would have a hay day with all the bs that is going on....

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