GOOD GOVERNMENT DISAPPEARS....WHERE WAS OBAMA ??

[chefnerd]

It's not! It is still illegal, just like anyone on Wall Street doing it, the only thing changed was the manner in which the STAFF has to report their transactions.

[CuteOldGuy]

You're right, Chef. My bad. Never mind.

Personal foul. Improper use of outrage. 15 yards. 1st down.

[Whirlaway]

Forbes on this very issue...

The Stock Act explicitly banned insider trading by government officials and employees—and made their financial transactions more transparent. It was only passed because of tremendous public pressure during election season.

“They used the NAPA report and said ‘this is a bad idea let’s undo all the disclosure parts of this bill,’” says Lisa Rosenberg, a Washington lobbyist for the Sunlight Foundation. “What we had advocated is if you are really worried about certain categories of jobs then maybe we need to exempt them with carve outs.” Adds Rosenberg: “There is a much more targeted way of addressing the security concerns, we are not dismissive of the security concerns, but putting the information in file cabinets is not fixing the security concerns.”

But David Chu, who chaired the panel behind the NAPA review, feels Congress’ action is consistent with the panel’s recommendation to indefinitely postpone posting the financial disclosures online in a searchable database. “We need to take a look at a whole set of things we are publicizing and ask ourselves if we are in the right place,” says Chu. “We are not saying you should not do this for some people, but we need to stop and look at this before the broad sweep without a more careful review of the risks involved.”

The most charitable interpretation is that Congress was facing an instant problem because under the Stock Act online posting was to begin on April 15 and alarm bells were being rung. But passing an amendment saying that a big chunk of the transparency provisions of the law shall not take effect means it will now take an act of Congress to narrowly target any transparency fixes. Why didn’t lawmakers just delay implementation pending further review? That’s what they have already done in the past. It took a 60 Minutes piece in which Steve Kroft confronted Nancy Pelosi about the purchase of Visa V -0.91% stock to get them to move the first time. What will it take to get them to act again?

[Whirlaway]

The repeal was an unnecessary step in the wrong direction, a blow to transparency and good Government.

[Jewish Lawyer]

Originally Posted by Whirlaway

The repeal was an unnecessary step in the wrong direction, a blow to transparency and good Government.

I agree - every act of government should be instantly viewable by the public online unless it endangers national security or public safety. Every government purchase order should be viewable online.

[WTF]

I agree with Whirly and exNYer on this...this sounds more like a slight of hand rather than a national security issue

[JD Barleycorn]

A BMW socialist. The new version of the Limosine Liberal.

[WTF]

Originally Posted by JD Barleycorn

A BMW socialist. The new version of the Limosine Liberal.

WTF is Ted Cruz in this vote? A Chevy Dolt? What do you have to say about your hero, Ted's vote?

[CuteOldGuy]

[chefnerd]

Originally Posted by Whirlaway

The repeal was an unnecessary step in the wrong direction, a blow to transparency and good Government.

Perhaps you should try actually reading things and ATTEMPT TO COMPREHEND what is written. The new law does not REPEAL reporting. It does make a change in who is required to post to the online database and does implement a delay in the implementation of said database. The law does still mandate ONLINE reporting by ALL members of Congress, ALL candidates for Congress, the President, the Vice President, and basically ALL positions where the President nominates and the Senate approves said nomination.

[Chica Chaser]

Originally Posted by chefnerd

Perhaps you should try actually reading things and ATTEMPT TO COMPREHEND what is written. The new law does not REPEAL reporting. It does make a change in who is required to post to the online database and does implement a delay in the implementation of said database. The law does still mandate ONLINE reporting by ALL members of Congress, ALL candidates for Congress, the President, the Vice President, and basically ALL positions where the President nominates and the Senate approves said nomination.

I can comprehend this just fine

Despite the repeal, government officials will still have to file disclosures of securities trades over $1,000 within 45 days, but they no longer have to file them in a searchable database that was to be easily accessible to the public.

Why make the database less searchable and less accessible to the public?

[WTF]

Originally Posted by Chica Chaser

I can comprehend this just fine


Why make the database less searchable and less accessible to the public?

My question is to Whirly and JD. How did Ted Cruz vote on this matter? ....AND Why are you two giving him a pass yet going after Obama?

[Whirlaway]

I am not giving him a pass:

Shame on Cruz !

Feel better WTF ???

[Chica Chaser]

Originally Posted by WTF

My question is to Whirly and JD. How did Ted Cruz vote on this matter? ....AND Why are you two giving him a pass yet going after Obama?

Ted is starting to fall in line....just like they all do

[WTF]

Originally Posted by Whirlaway

I am not giving him a pass:

Shame on Cruz !

Feel better WTF ???

MUCH