Wow. They move fast. I'm sure it'll all be for show and will fail.

But good work, 60 Minutes.

It won't even be voted on.

I take it the bill finally got a co-sponsor? Sweet. I bet barely anyone even knew about this before the '60 Minutes' story this week.

Cubansaltyballs: Wow. They move fast. I'm sure it'll all be for show and will fail.

But good work, 60 Minutes.

The important thing is, can we now have a serious national discussion about reaffirming that the National Anthem is still the Star-Spangled Banner? Because most voters aren't sure, we need the Republican House to let us know.

Brown/Gilibrand 2012!

EnviroDude: Nancy Pelosi's Hubby will have to find a new job.

This is one that hits tons of unethical dickwads politicians on both sides. It's surprising that a single politician would bother trying to fight against it, and it's even more shocking that it's a seemingly muti-partisan effort.

Makes it look suspicious, I guess.

Bi-partisan common sense-based legislation?

That will never work.

No seriously...for you young folks...this is how Washington USED to work...find an issue, find a partner on the other side, compromise on the bill's langugage so it passes, vote, passes, decent law.

TADA! What a concept.

I'm sure they'll find ways to get around this, or water it down if it actually passes, and most likely, kill it in committee before it ever reaches the floor in the first place. Honestly, trading in stocks or any financial markets should be absolutely illegal for any lawmakers, including supreme court justices.

Gyrfalcon: Code_Archeologist: How is this not already illegal?

FTFA: current insider trading laws do not apply to nonpublic information about current or upcoming congressional activity -- that's because members of Congress aren't technically obligated to keep that information confidential.

So, for instance, if a lawmaker learns an upcoming bill will grant a company a large government contract, which could boost that company's stock, he or she is free to buy that stock ahead of the bill's public introduction. This form of "insider trading" is one of the reasons why there are so many wealthy members of Congress, CBSNews.com reported earlier this year.

Holy. F*cking. Shiat. This is just wrong. And it needs to be 1. illegal and 2. stopped at once.

There should be two types on congress people, 1. those getting rich off this and 2. Those crusading against this. If you are too stupid or to passive to be in one of those camps you shouldn't be in congress.

EnviroDude: Nancy Pelosi's Hubby will have to find a new job.

My money is on spouses/partners will be exempt. Loopholes so big that even... hmmm what is very large... I mean larger than large.... I mean larger than the freak'n univers... ya "that" could work it's way through the loopholes.

So sue me if I suck at analogies.

This will absolutely pass, no question about it, and VERY publicly.

Then some time later, buried in a long and complex bill already weighed down with extraneous provisions, a loophole will be slipped in allowing it in some form again.

Surprise: 0%

"However, current insider trading laws do not apply to nonpublic information about current or upcoming congressional activity -- that's because members of Congress aren't technically obligated to keep that information confidential."

That quote is crazy to me, because I can think of multiple cases where they put people in jail for trading stocks because they knew beforehand the stocks were going to be mentioned in upcoming issues of Business Week. So that's insider trading and a jailable offense, but what congressmen are doing isn't?!

EnviroDude: Nancy Pelosi's Hubby will have to find a new job.

3 comments in? You're fired! that was far too slow.

Saiga410: EnviroDude: Nancy Pelosi's Hubby will have to find a new job.

My money is on spouses/partners will be exempt. Loopholes so big that even... hmmm what is very large... I mean larger than large.... I mean larger than the freak'n univers... ya "that" could work it's way through the loopholes.

So sue me if I suck at analogies.

I usually use "Super-class Star Destroyer," but I'm a nerd.

By the time this thing gets to a vote, it will be so watered down and filled with loopholes as to be completely toothless.

Congress will pat themselves on the back and say "we've done something about government corruption"

And we'll continue our steady march towards oblivion.

Congressmen shouldn't be able to trade stocks while serving their country. I know people will not like like that and shout about freedom to me, but it's called serving your country for a reason. Maybe if we make it more of an actual service role like it used to be instead of what it has become now (a springboard to getting rich), we wouldn't have so damn many problems.

Even in the completely remote chance that this does pass it doesn't prevent members of congress from passing non-public information to a third party to unfairly make huge profits on investments. I think 60 minutes referred to this as legislative intelligence.

Saiga410: EnviroDude: Nancy Pelosi's Hubby will have to find a new job.

My money is on spouses/partners will be exempt.

That's a sure bet if this bill ever ends up before the Supremes *cough-scalia-cough*

And some people wonder why the Occupy protesters are so pissed.

Too bad it takes an election for Scott Brown to act in the best interest of Massachusetts

DB: Even in the completely remote chance that this does pass it doesn't prevent members of congress from passing non-public information to a third party to unfairly make huge profits on investments. I think 60 minutes referred to this as legislative intelligence.

CEOs can do the same thing. Just make the punishment very severe for getting caught, just like the private sector.

Snapper Carr: By the time this thing gets to a vote, it will be so watered down and filled with loopholes as to be completely toothless.

This. And it WILL pass, Subby, just not in its current form. Better get that unicorn ready.

Ackbarican_Idol: Too bad it takes an election for Scott Brown to act in the best interest of Massachusetts

He's only doing it because it doesn't stand a chance of passing.

The fact that nobody knows that they work off of different rules from the rest of us, that they can make laws that apply to everyone but them and that even when it comes out that they are corrupt pieces of shiat, nobody really wants to do anything about it only reveals to me that all you farkers deserve every inch of dick that goes up your asses every day. You obviously enjoy it since you don't even make the effort to change anything about the system.

Pelosi, (et. al.) and her (et. al.)shenanigans have been mentioned time and time again for at least 8 years yet nobody said shiat and didn't care. Well, guess what...too bad. You deserve getting ripped off because, just like P.T. Barnum said, "It's morally wrong to allow a sucker to keep his money."

Keep on Farking and enjoy your farking.

This isn't a troll...this is a statement. You don't DO anything about ANY of this. So...why should anyone care? And now you know why everyone from elected officials to CEO's to Investment Bankers are raping and Pillaging everything and anyone they can? Well, they know the whole thing is about to collapse and they are going to make sure that they get theirs. Oh, don't worry, you'll get yours too. Just like H.L. Menken said: "The people deserve what they ask for, and I hope they get it good and hard."

SnakeLee: Kirsten Gillibrand is a goddess

This bears repeating.




/hot

Members of Congress (and their immediate family) should only be allowed to invest in government bonds.

Wow, that didn't take long. 60 Minutes briefly turned the lights on, and the cockroaches are scrambling. We better start a war or something to divert people's attention. I think I'll cancel my vacation to Iran.

the STOCK act

the taxpayer, in the case of negative growth in capital, due to the unsuccessful investments practiced based on the privileged inside information, shall be held accountable for any loss incurred including a fair market interest compensation...

....and also in the event stagnation, for any given period beyond that in which the initial transaction has been made, the taxpayer will provide an honorarium to which the Congressperson shall be entitled...

So, for instance, if a lawmaker learns an upcoming bill will grant a company a large government contract, which could boost that company's stock, he or she is free to buy that stock ahead of the bill's public introduction. This form of "insider trading" is one of the reasons why there are so many wealthy members of Congress, CBSNews.com reported earlier this year.

Say it with me boys and girls...

FFFFUUUUUUUU....

I still say that Congress should be held in prison-style barracks and constantly monitored by webcam.

Coach_J: Bi-partisan common sense-based legislation?

That will never work.

No seriously...for you young folks...this is how Washington USED to work...find an issue, find a partner on the other side, compromise on the bill's langugage so it passes, vote, passes, decent law.

TADA! What a concept.

We get the guys we vote for. If you'd asked me in 2006 if something like the 2010 election cycle would occur, and that anything appearing to be obstructionism prior to that year would seem like we had a single unified party by comparison, I would have laughed and called you excessively pessimistic.

Our voters like it the way its going - at least a very substantial number of them.

birchman: Just make the punishment very severe for getting caught, just like the private sector.

We should adopt the Singapore model. Pay senior elected officials and judges extremely well and at the same time enacting very punitive consequences for corruption.

Under the current system, every dollar that a congressperson gets in bribes or insider info is probably costing the taxpayer upwards of $50*. I'm guessing that it's cheaper to bribe these people ourselves.


*(WAG)

Just like with gun crimes, the obvious solution to this problem is to make it even MORE illegal! That'll show 'em bastards!

So I guess the key to getting legislation introduced is to get a story about it on 60 Minutes. Now what TV show will it take to get it passed? Maybe Sunday Night Football?

Blahbbs: I take it the bill finally got a co-sponsor? Sweet. I bet barely anyone even knew cared about this before the '60 Minutes' story this week.

FTFM. Yes, it only became an issue when caught in the act.

From TFA: Like everyone else, members of Congress are subject to current insider trading laws. However, current insider trading laws do not apply to nonpublic information about current or upcoming congressional activity

TFA. Read it.

Has anyone gone on to explain how a sitting congressperson can't be prosecuted regardless of whether this bill passes or not?