House Votes to Tighten Insider-Trading Ban for Congress

[justiceischeap]

The U.S. House voted to strengthen the ban on insider trading by members of Congress and other government officials amid a record-low public approval rating of the way lawmakers do their work.

The measure, approved 417-2 today in Washington, would bar members of Congress, their staffs and some executive branch workers from trading stocks, commodities or futures based on non-public information they learn on the job. The Senate passed a different version of the bill, S. 2038, on Feb. 2.

The House measure, offered by Majority Leader Eric Cantor, a Virginia Republican, omits a Senate provision that would set a new disclosure requirement for companies that gather political information and sell it to investors.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/09/bloomberg_articlesLZ31DT6K50YD01-LZ4V8.DTL#ixzz1lueNEcL3

[Drale]

1. Wait wow WAIT!

Republicans voted for this?

[The Genealogist]

2. My reaction as well

I have not read the bill, but I am sure that it has riders and amendments that satisfy all sorts of nasty Republican wishes.

[russspeakeasy]

3. Yup. Like pedophelia. Voting against it, doesn't mean they'll quit doing it.

[BlueToTheBone]

4. Only after Cantor gutted the bill

and took away the transparency.