Senate Passes STOCK Act 96-3

[babylonsister]

Senate Passes STOCK Act

* By Steven T. Dennis

Updated: 6:37 p.m.


The Senate passed the STOCK Act on a 96-3 vote this evening after a surprisingly open amendment process forced lawmakers to take stands on a series of ethical restrictions and earmarks.

The bill, which clarifies that Members of Congress are subject to bans on insider trading, engendered a broader debate over public ethics, including issues such as whether lawmakers should own stocks at all, given their ability to affect individual companies.

President Barack Obama urged the House to pass the legislation, which he pushed in his State of the Union address last week. “I will sign it right away,” he said in a statement.

House Majority Leader Eric Cantor (R-Va.) said the House would review the Senate bill, adding he intended to bring it to the floor next week.

Obama, however, said he wanted the bill to go further than it did.

“While this is an important step to rebuild the trust between Washington and the American people, there is much more work to be done, like prohibiting elected officials from owning stocks in industries they impact, and prohibiting people who bundle campaign contributions for Congress from lobbying Congress, an idea that has bipartisan support outside of Washington,” the president said. “These are straightforward proposals that will help eliminate the corrosive influence of money in politics.”

more...

http://www.rollcall.com/news/Senate-Passes-STOCK-Act-212096-1.html?pos=hftxt

[russspeakeasy]

1. They will find a way around the new legislation.

60 minutes blew the whistle on them.
You and I don't mean shit individually, but damn, a lot of people still watch 60 minutes.

[gopiscrap]

2. Who were the 3 who voted

against it?

[The Genealogist]

3. Coburn R-OK, Burr R-NC and Bingaman D-NM

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=112&session=2&vote=00014

[babylonsister]

5. Thanks for looking that up. Bingaman...one to watch warily. nt

[Angry Dragon]

4. Here you go

Only three senators voted against final passage: Sens. Tom Coburn (R-Okla.), Richard Burr (R-N.C.) and Jeff Bingaman (D-N.M.).

[Honeycombe8]

6. Yay! At least it's SOMETHING that tries to control Congress' unethical actions. nt

[Angleae]

7. It will get further watered down in the house.

With enough loopholes big eoung you can drive a truck through.