Congress, No Stocks for You (What Now America)
A Ban on all Stock Trading is Proposed. The host for this show is Tim Apicella. The guests are Jay Fidell, Karen Buzzard and Cynthia Lee Sinclair.
The Stop Trading on Congressional Knowledge (STOCK) Act was passed in 2012 with overwhelming bipartisan support: Senate 96-3, House 417-3. Congress hasn’t agreed on much since then. Perhaps the criminal conviction of lobbyist Jack Abramoff had something to due with the new law. Since passage, numerous members of congress have found themselves in violation of the law- full transparency and timely disclosure of stock trades made by members. In the past months, 57 members – both GOP and Democrats – have been identified as in violation of the law. Reasons for the absence of filings for stock trading includes: 1. Ignorance of the law 2. Clerical errors 3. Accountant mistakes. The push to enact a new law would prohibit all stock activity trading for all members of congress and spouses. A bold new law which appears to have support from both sides of the isle. Cleaning up the corruption of congress is rare and welcomed. But why now? The panel tackles this issue and the associated questions.
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