Cantor’s office wrote loophole into insider trading bill
Source: CNN via Raw Story
CNN is reporting that House Majority Leader Eric Cantors (R-VA) office wrote a loophole into the House version of the Stop Trading on Congressional Knowledge Act (STOCK) exempting Congress members spouses and children from having to report stock market transactions over $1,000 in a timely manner.
The Senate version of the bill requires these transactions be reported within 45 days by both its members and their families. But a memo from the Office of Government Ethics, which oversees all federal executive branch employees, used the House version, telling them spouses and children were not subject to the rule.
Neither of the bills Senate co-sponsors, Scott Brown (R-MA) and Kirsten Gillibrand (D-NY), knew about the discrepancy.
I mean, bottom line, were supposed to have that level of transparency and have us be treated like every other member of the United States, Brown told CNNs Dana Bash. Bottom line, if we cant do it, then sorry, if they cant do it then we shouldnt be able to do it as well.
Read more: http://www.rawstory.com/rs/2012/07/20/cnn-cantors-office-wrote-loophole-into-insider-trading-bill/
tanyev
(42,550 posts)cstanleytech
(26,281 posts)tosh
(4,423 posts)Fuck Cantor.
elleng
(130,865 posts)azurnoir
(45,850 posts)we call it cheating they call protecting free enterprise or the American way or some such
montanacowboy
(6,083 posts)at it again, if he's not shorting the U.S., he is pulling shit like this
slimy creepy asshole
his constituents must be total morans to vote for this vile creature
he needs to be turned out in November
atreides1
(16,072 posts)There are pimps with more integrity then this piece of s**t!
I don't even live in his district, which he wanted to deny emergency funding after the earthquake...but I'm going to donate to his opponent in the upcoming election.
WCGreen
(45,558 posts)sofa king
(10,857 posts)Oops! Did I say that?
dhill926
(16,337 posts)on this. Day after day after day......
elleng
(130,865 posts)Beaverhausen
(24,470 posts)Baitball Blogger
(46,700 posts)Enrique
(27,461 posts)Cantor must have had one of those spasms that causes you to involuntarily insert loopholes into legislation.
aggiesal
(8,911 posts)We'll just wait several weeks while the stink blows over,
then we'll do nothing to the House bill, and force the
Senate to compromise into using the House bill, that way
their identical.
Scurrilous
(38,687 posts)CBGLuthier
(12,723 posts)SoapBox
(18,791 posts)we find out more.
Dirt Bag.
secondvariety
(1,245 posts)Trillo
(9,154 posts)"It's a game we play."
a game?
It's a fucking game.
Ruby the Liberal
(26,219 posts)No for the little people, silly! Legislators were never going to stop insider trading. Now they will just do it in the name of their kids.
Booster
(10,021 posts)approved by the Senate and nobody bothered to read it or notice (yeah, right, it benefits them all)? Why wouldn't this be unethical and his butt sent before the Ethics Committee? Wonder how many other bills have been "altered" in the past. If this isn't unethical then why in the Hell do we even have an Ethics Committee?
Rosa Luxemburg
(28,627 posts)benld74
(9,904 posts)he got picked on enough to give him an effin attitude for the rest of his life. He didnt learn an effin thing from his experience to have any kind of empathy for anything, anyone at anytime
the ex military man Wayne Powell who is running against him will beat his butt up plenty come election day. I don't live in the district but I'm sending donations his way!
MADem
(135,425 posts)I do think it's funny as hell that Scott Brown didn't read the fucking bill, though--no surprises, there!
midnight
(26,624 posts)lark
(23,091 posts)when it comes to rating lying cheating scumbag motherfuckers!
libodem
(19,288 posts)With these white collar crooks. The Protestant work ethic and the subsequent wealth generated has enculturated us to believe, God blesses us with money. And money is God's reward for doing what His work. We worship money. And exalt those who get it, no matter how.
As a people we seem to easily forgive crooks who rob us from the inside of the bank or the congressional office.