Rand Paul FILIBUSTERS STOCK ACT REPEAL (Congressional Insider Trading Ban)

[idiom]

While Congress might be stuck in a deadlock on just about every issue imaginable, there’s one piece of legislation that both Democrats and Republicans hate unanimously: the Stop Trading on Congressional Knowledge (STOCK) Act, a law passed last year designed to prevent insider trading among lawmakers and government officials by requiring them to post disclosures of their financial transactions online.

Both parties and both houses of Congress hated the disclosure portion of the law so much that it was repealed on Friday without debate—the measure was sent to the president by unanimous consent. The ordeal took about 10 seconds in the Senate and 14 seconds in the House, according to official records.

The STOCK Act would have required members of Congress, their aides, and other federal employees making more than $119,554 a year to disclose their financial dealings in an online database. It was supposed to prevent government officials from using insider knowledge about policy-making to profit from stock trades and other investments.

http://nyulocal.com/national/2013/04/15/congress-quietly-repeals-congressional-insider-trading-ban/

Way to use the Boston Bombing as cover you bastards.

[Rudeman]

Where does it say that Rand filibustered this?

[idiom]

Where does it say that Rand filibustered this?

Kind of the point. Unanimous uncontested vote in both houses.

[V3n]

This had to be some sub-committee or something, I can't imagine Massie and Amash going for this in the House. Need more info.

[July]

Kind of the point. Unanimous uncontested vote in both houses.

Unamimous consent was designed as a way to do exactly that, to speed up the passage of routine and uncontroversial bills by bypassing the actual debate and voting process. I'm surprised there isn't more discussion about this in general, as this practice seems to get abused quite a lot.

[T.hill]

If everyone hated it, then how are bills like this even introduced?

[idiom]

If everyone hated it, then how are bills like this even introduced?

Its a repeal of the hated act.

What surprises me is that our favourite cast of characters aren't all over this. This re-legalised insider trading by Congress. Its incredibly unpopular and would be super easy to demagogue one.

[ClydeCoulter]

Disgusting.

[FriedChicken]

Would be very interested if maybe a constituent of Amash could call or write his office to see what he says about it. I trust him to give a straight forward answer - I have a hard time believing that he would be against STOCK unless it had something in it we're not aware of.

[Carson]

"The STOCK Act would have required members of Congress, their aides, and other federal employees making more than $119,554 a year to disclose their financial dealings in an online database."

Might make for a good slant on and investment company.

You could set it up to help people saving for their retirement by buying when they buy.

[Carson]

If everyone hated it, then how are bills like this even introduced?

It must have been some sort of ammunition in a buyout of votes by attaching it to something else last year. But I'm just guessing.

[tsai3904]

The STOCK Act: More Questions Than Answers?

http://wilmerhale.com/pages/publicationsandnewsdetail.aspx?NewsPubId=90014

[anaconda]

Kind of the point. Unanimous uncontested vote in both houses.

Ah, I see. Facetiousness.

[VoluntaryAmerican]

What's up with thread title?

[J_White]

yes, there shd b no law restricting their ability to cheat.