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STOCK ACT

January 25, 2012

On December 7, 2011, House Majority Leader Eric Cantor indefinitely postponed a scheduled markup of the legislation. The bill currently has 235 co-sponsors– 153 Democrats and 82 Republicans.  A bill needs 218 votes for passage by the House of Representatives.

In case you are unaware, this stands for “Stop Trading on Congressional Knowledge” Act.  If you are the CFO of a Wall Street company, or any for that matter, and you are found of insider trading, you can expect 10’s of years in jail.  But our Congressmen/women can make these SAME transactions with the SAME knowledge, yet nothing consequential happens to them?  Cough cough, Nancy Pelosi.  What kind of democracy lets one man trump the common sentiment of 235??

If you are one of those people who got all hot and steamy about PIPA/SOPA last week, you should do the same now.  Familiarize yourself on the bill and pass this on, whether it be Twitter, FB or what have you.

http://www.louise.house.gov/index.php?option=com_content&view=category&layout=blog&id=90&Itemid=139

MJD

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