I’m Tom Dwyer,
The STOCK Act; meant to prohibit Congressional insider trading, is an example of good law being neutered.
STOCK was headed for death in committee until spotlighted by a 60 Minutes report on Congressional insider trading and mentioned in the State of the Union speech.
Once well lit, Harry Reid quickly brought the bill up for a Senate vote where it passed ninety six to three.
STOCK could have also controlled “political intelligence firms”, Wall Street spies selling inside information on Congress to investment companies.
Right now these firms don’t disclose clients or earnings. The bill would have made them register just like lobbyists, a basic requirement to shed light on their influence.
House Republi Cons gutted this critical provision, and the weakened version passed easily.
STOCK still has to be reconciled between the Houses before it goes to the President. Do you have an opinion? Better let your representatives know now!
By phone at (five oh three, two three oh, twenty three hundred) or online at (tom dwyer dot com) we’re Tom Dwyer Automotive Services… trusted to keep your vehicles, safe, breakdown-free and operating at their best!
(c)2012 Tom Dwyer Automotive Services