Why is the Liberal Congress trying to suppress a bill that would list the names of Investors?

Question

They want to quash a bill that will name the officers, investors, and shareholders of companies like Haliburton, Exxon, etc...

Are they afraid that the US public will see how many of them invest? Can you imagine how well it will go over if Gore is a major shareholder of a coal burning power plant???

What a joke!

Answer 1

Liberalism = Hypocrisy

Answer 2

Huh, you're a pretty bad "conservative." Conservatives, in fact should be opposed to this bill, not liberals. Conservatives believe that the government should not be involved in the financial transactions of private individuals and corporations. I don't know why this particular bill is being blocked--in fact, I can't even find any reference to it. Many laws are quite complicated, and often contain multiple provisions--maybe it's being blocked because another, unrelated provision. If you could post a link to the news article you read this in, or a reference to the bill, or the bill'sname, or sponsors, or anything, we could have a more intelligent conversation.

Answer 3

I'm sorry to say that you are jumping the gun on this issue. Congressmen already are required to file personal financial disclosures about their stock holdings and other sources of income. See link below. Data on the officers of corporations is public record, which you obtain from the corporation charter office in that corporation's home state. The info on who owns stocks has never been public, since it would expose millions of small stockholders to all kinds of contacts from people they don't know; but I think all stockholders themselves have access to that information (for example, in case they want to run for the board of directors and want to contact all other voters in that corporation).

Answer 4

I find it interesting that the Democrats want to do anything that will aid a corporation. However they are just like the Republicans when there is money involved they want their share so if the corporations dangle some in front of them they grab it and then support their position.


Where is there a reliable third party when you need one.

Answer 5

All of DC is run by K Street and corruption- both Republicans and Democrats. Learn that and you'll see the light instead being just another pawn of bipartisanship finger pointing.

Answer 6

Well, since they opened their mouths, it has been shown that Hillary and Michael Moore are both heavy Halliburton investors. Funny how especially Michael (I hate the war and America) Moore hasn't sold his stock yet.

Answer 7

Or perhaps they're simply attempting to maintain the American right to privacy that they maintained with the introduction of the Patriot Act.

Answer 8

If that is accurate, I think it is shameful!

However please show me the bill!!

"Washington, D.C. - Congressman Brian Baird today testified before a packed room at the House Rules Committee on his Stop Trading on Congressional Knowledge Act or STOCK Act (H.R. 5015) and 72 Hour Resolution (H. Res. 688). The Rules Committee is considering various proposals for inclusion in the Lobbying Accountability and Transparency Act of 2006.

Congressman Baird introduced the STOCK Act on Tuesday with Congresswoman Louise Slaughter (D-NY), Ranking Member of the Rules Committee. The bill seeks to ban insider trading within the Congress, a practice that is currently legal. Congressman Baird’s 72 Hour Resolution would ensure greater government transparency and require that legislation be made available online to both Members of Congress and the public for at least 72 hours before a vote.

The article highlighted a loophole in our law that allows Members of Congress and their staffs, as well as those outside Congress with key contacts or influence in Congress, to trade on nonpublic information. It violates any notion of fairness or common sense that Members of Congress or their staff can legally share nonpublic information about current or upcoming congressional activity with a handful of investors outside of Congress for investment purposes, or can engage in their own trading of securities based on nonpublic information that they obtain by virtue of their position in Congress.

Clearly, the buying or selling of stock based on nonpublic information has the potential to profit some private parties at the expense of others who may not have access to this same information. In addition, I am very concerned that privileging a handful of investors with confidential information about congressional activity is not only a misuse of a congressional office, but also undermines investor confidence in the fairness and integrity of the securities market.

As I have noted, buying or selling stock based on nonpublic information from Congress does not clearly run afoul of current insider trading laws. For this reason, I joined forces with Ranking Member Slaughter to introduce the Stop Trading on Congressional Knowledge, or S.T.O.C.K. Act, earlier this week to put an end to this troubling practice. Our legislation will:

· Prohibit members or employees of Congress from buying or selling stocks, bonds, or commodities futures based on nonpublic information they obtain with their status.

· Prohibit those outside of Congress from buying or selling stocks, bonds, or commodities futures based on nonpublic information obtained from within the Congress.

· Prohibit members, employees, or persons with nonpublic information from disclosing information about any pending or prospective legislative action if they believe that information will be used to buy or sell stocks, bonds, or commodities futures.

· Require members of Congress and employees to report the purchase, sale, or exchange of any stock, bond, or commodities future transaction in excess of $1,000 within 30 days. Members and employees who chose to place their stock holding in blind trusts or mutual funds are exempt from this reporting requirement.

· Require firms that specialize in “political intelligence” gathering to register with the House and Senate, much like lobbying firms are now required to do.

Members and staffers should be concerned first and foremost with serving the American people and not with fattening stock portfolios on the taxpayer’s dime. Increasingly common midnight votes and last minute earmarks are the perfect recipe for trading abuse; a few select staffers and Members have access to information that could bring a windfall as soon as the markets open. "

This was no Republican so please shoew me something other than your allegation as it seems the complete opposite is true!

Answer 9

what are you jealous? who really cares they have a right to invest the same as you do.

Answer 10

Link? I mean besides your colon?