The two bills have some differences, and that will have to be hammered out in a conference committee. But it looks like something is finally being done. And when the differences are ironed out, President Obama has already said he will sign the bill into law.
I hope this issue is not the end of changes that need to be made, because although the bill is a good start, it is not nearly enough. Personally, I don't think members of Congress (or the White House) should be allowed to own or trade stock at all. Government actions just have too much effect on stock prices, and it's too easy to abuse that. At the very least, all high-ranking members of the government should have to put any stocks they have in a blind trust and suspend trading as long as they serve in government.
But at least a baby step is being taken toward a more honest government, and that is better than nothing.
Congress should and does know the ripple effect of insider trading to produce shark infested waters upon which they gain but are immune to prosecution - in effect, using the public as its pawns to do the dirty work for it.
ReplyDeleteAs if employment pressures were not bad enough, this is particularly sleazy work by Congress, sent to their seats to protect the public, not to steal from it.