Posts Tagged ‘STOCK Act’
Posted by Larry Doyle on April 18th, 2013 7:10 AM |
If transparency is the great disinfectant, then the stench emanating from Washington not only remains strong but just got a whole lot stronger. How so?
Recall that the STOCK Act, that is the legislation passed a year ago to outlaw insider trading in Washington, only came into being after a 60 Minutes expose embarrassed Congress to address this racket. Prior to that the legislation sat bottled up in committee for many years.
Well, if you had any real confidence that the STOCK Act would really clean out the insider trading stables in Washington, think again. With both old holes and recent new holes in this smelly piece of legislation, this act should be renamed the Molded Swiss Cheese Act. Thanks to the regular reader who brought this stench to my attention. Let’s navigate. (more…)
Tags: dirty money, dirty money in Washington, GAO Report on political intelligence, insider trading in Washington, Mark Hayes email Height Securities, Mark Hayes Lobbyist Humana, political intelligence trading, STOCK Act, STOCK Act public disclosures, trading on political intelligence
Posted in General, insider activity, Wall Street Washington Incest | 3 Comments »
Posted by Larry Doyle on April 5th, 2012 7:53 AM |
America only had to wait for a 60 Minutes expose and more than half a decade to witness our elected representatives pass a meaningful piece of legislation addressing insider trading on Capitol Hill. If those two basic facts do not speak volumes as to the quality of character of those governing our nation, then let’s navigate further.
President Obama’s signing of the STOCK Act outlawing insider trading in Washington is heralded as a major achievement. If that is the case, then we are holding the bar exceptionally low.
I will grant that our nation is better off having the STOCK Act than not, but let’s hold the applause. As a further reminder that there are two sets of standards in our nation, let’s review how ‘justice’ is defined within the realm of insider trading. (more…)
Tags: 60 Minutes expose on Stock Act, Department of Justice, Dodd-Frank Act, Federal Sentencing Guidelines, insider trading in Washington, insider trading on Capitol Hill, John Boehner insider trading, justice in STOCK Act, Nancy Pelosi insider trading, no perp walks in Washington, penalties for insider trading, penalty does not fit the crime, pension forfeiture for corrupt members in Congress, perp walks, Raj Rajaratnam, Spencer Bachus insider trading, Steve Kroft, Steve Kroft 60 Minutes, Steve Kroft insider trading November 13 2011, STOCK Act, STOCK Act justice, Stock Act penalty, Wall Street
Posted in General, insider trading | 4 Comments »
Posted by Larry Doyle on February 16th, 2012 9:54 AM |
Gaining sensitive, market moving information is NOT by its very nature illegal or unethical. In point of fact, those who are ingenious and industrious enough to outwork and outsmart the competition are fully deserving of the benefits and rewards that come their way.
That ingenuity and industriousness are cornerstones of capitalism. I love it and commend those who ethically pursue these paths to success.
That said, how are these pursuits regulated? Who is monitoring the exchange of what might be exceptionally sensitive and insider information? Great questions. (more…)
Tags: attorney-client privilege, capitalism, Chuck Grassley Outlines case for Political Intelligence Amendment, cloud cover in Washington, cornerstones of capitalism, dealing with confidential information, ethical pursuits of business, future of financial regulation, gaining inside information, hedge funds political intelligence, ingenuity and industriousness, level playing field on Wall Street, lobbyists dealing with political intelligence, political intelligence, sensitive inside information, STOCK Act, The Osint Group, trading based upon political intelligence, truth transparency and integrity, Wall Street-Washington incest
Posted in General, insider activity, insider trading | 12 Comments »
Posted by Larry Doyle on February 2nd, 2012 11:03 PM |
To know what is right and not do it is the worst cowardice. ~Confucius
Did the United States Senate do the right thing today and show real character in passing the Stock Act (Stop Trading on Congressional Knowledge Act…aka, Stop Insider Trading in Congress!!)?
Let’s come back to that question.
The simple fact is the Stock Act was first introduced SIX YEARS ago. How is it that this piece of legislation languished for so long and now passes the Senate by a vote of 96-3? (more…)
Tags: 60 Minutes show about STOCK ACT, a show about ARS scandal, ARS crisis, character is what you are when no one is looking, Confucius, Senate passage of Stock Act, STOCK Act, to know what is right and not do it is the worst cowardice, United States senate passage of STOCK Act
Posted in ARPS, ARS, Auction Rate Securities scandal, General, insider trading, Wall Street Washington Incest | 8 Comments »
Posted by Larry Doyle on November 21st, 2011 5:10 PM |
A week ago, I wrote Sense on Cents Calls Out Congress to Pass H. R. 1148 Outlawing Congressional Insider Trading.
In the midst of writing my commentary, I highlighted that:
I called my Congressman Jim Himes (D-CT) this afternoon and informed his spokesman of my initiative here at Sense on Cents. I let him know that Jim’s name will be published at Sense on Cents as supporting this legislation or not.
I got his spokesman’s attention and let him know how great the blogosphere was at spreading this type of information. He fully understood. (more…)
Tags: Congress insider trading, Congressional insider trading, Congressman Jim Himes, Financial Industry Regulatory Authority, FINRA, formation of FINRA, H.R. 1148, Himes Pushes to End Congressional Insider Trading, house Committee on Financial Services, House Financial Services Committee, insider trading in Washington, Jim Himes, Mary Schapiro, POGO, project on Government Oversight, STOCK Act, Stop Trading on Congressional Knowledge Act, what does Finra do?
Posted in General | 14 Comments »
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