Thursday, April 18, 2013

"President Obama has just signed a rollback of key transparency provisions of the STOCK Act.
Late Thursday night, as we reported last week, the Senate gutted the disclosure requirements by approving S.716, an act amending the requirements of the 2011 law. The House followed suit the next day, and the president signed the bill minutes ago.

Called the STOCK Act, which stands for Stop Trading on Congressional Knowledge, the new law requires that public reports of new transactions exceeding $1,000 be posted online either 30 days after the individual was notified of a transaction in his or her account, or 45 days after the transaction."      [Liberty News]

This 2011 act essentially prevented insider trading by members of Congress.   Dear Leader and Congress have now exempted themselves from penalties under the insider trading laws which apply to all corporate managers!  Another example of the sort of IMPERIAL government we are growing!     [clipper]

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