Lake Minnetonka Liberty

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Tag Archives: insider trading

Congress Doesn’t Want to Give Up Its Insider Trading Privileges

President Obama’s plea to ban Congressional insider trading may poll well and have bipartisan support, but it’s already facing stiff resistance from lawmakers the morning after his State of the Union address.

On Tuesday night, the president spoke in no uncertain terms: “Send me a bill that bans insider trading by Members of Congress, and I will sign it tomorrow,” he said. “Let’s limit any elected official from owning stock in industries they impact.” The remarks were cause for celebration for Breitbart editor Peter Schweizer, who authored a 2011 book exposing Congressional insider trading, and 60 Minutes, which ran a widely-viewed segment based….

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Online Petition for STOCK Act Gathering Steam

An online petition to ban congressional insider trading has collected 4,488 online signatures.

The petition was started by Rick Smith, a financial writer for the popular investing website The Motley Fool.

For years, Mr. Smith has been championing legislation that would stop members of Congress from profiting off of private information.   Given the head of steam his online petition supporting the STOCK (Stop Trading On Congressional Knowledge) Act appears to be gathering, that’s a message that’s beginning to break through.

Even if the STOCK Act or similar bills on the issue pass, Mr. Smith thinks members of

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