April 4th, 2012
02:53 PM ET
3 years ago

Obama signs STOCK Act to address 'deficit of trust' in Washington

Washington (CNN) - President Barack Obama signed legislation on Wednesday aimed at restoring Americans' faith in the nation's public institutions at a time they rank at record lows in opinion polls. The act bans insider trading by members of Congress and many executive branch employees.

In a ceremony at the White House, the president referred to the need to address public skepticism about an uneven system.

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Filed under: Congress • President Obama
soundoff (21 Responses)
  1. Truth and Nothing But the Truth

    In a ceremony at the White House, the president referred to the need to address public skepticism about an uneven system.
    ===================================================================================================
    "uneven"???? Isn't the correct word CORRUPT?!!! Had this law been in place years ago, Nancy Pelosi would be doing hard time right now.

    April 4, 2012 02:58 pm at 2:58 pm |
  2. Dead-On-Arrival-Candidate

    Even those suffering from retrograde amnesia can remember the GOP's declared priority for 2008-2012:

    "The single most important thing we want to achieve is for President Obama to be a one-term president." – Mitch McConnell (R-KY)

    We have not forgotten.

    April 4, 2012 03:08 pm at 3:08 pm |
  3. diridi

    Thanks, Mr. President Obama. We should have done long time ago. I want you to sign also, Senate and Congress Term-Limits in your second term, and Anti-Lobby laws. God bless. Obama2012.
    PS: Mitt will sell this nation to China, Bain-Capital. True.

    April 4, 2012 03:16 pm at 3:16 pm |
  4. Rudy NYC

    Truth wrote:

    "uneven"???? Isn't the correct word CORRUPT?!!! Had this law been in place years ago, Nancy Pelosi would be doing hard time right now.
    -----------
    Yup, you might be right. But, so would a number of other politicians from both sides of the aisle. Is this your jobs plan?

    April 4, 2012 03:17 pm at 3:17 pm |
  5. Wake up people

    And they are spending millions trying to do it. That's what scares me. I'm not worried about Mittens, he can't keep his feet out his mouth, but I do worry about what dirty tricks they are going to pull to accomplish this feat.

    OBAMA 2012!

    April 4, 2012 03:22 pm at 3:22 pm |
  6. Myviewis

    Let's not forget $75 million worth Dianne Feinstein and the contracts she passed on to her investment banker husband.
    Of course Pelosi won't like this.

    April 4, 2012 03:27 pm at 3:27 pm |
  7. ja

    nobody went to jail or is immuity self granted

    April 4, 2012 03:34 pm at 3:34 pm |
  8. Truth and Nothing But the Truth

    So who enforces this wonderful new law? Does Nacny Pelosi just take all the corrupt Democrats into a closed session and chew them out for getting caught and then teaches how not ot get caught in the future? You know... the Charlie Rangel treatment.

    April 4, 2012 03:42 pm at 3:42 pm |
  9. RealityBites

    Backdoor budget deals are much more lucrative than stock trades.., and still legal

    Remember those stimulus bought high-speed corridors??
    ie.., jacked up price land bought from Washington relatives and insiders by the taxpayers.

    April 4, 2012 03:48 pm at 3:48 pm |
  10. Another Day in the Idiot Mines of the Obama Administration

    Obama signs STOCK Act to address 'deficit of trust' in Washington
    =====================================================
    When will Obama pass a bill to address the 'deficit of trust' in HIM? Or Pelosi, the pass it before you see what's in it, imbecile? Or Harry Reid, the I doing anything moron running the Senate??

    April 4, 2012 04:01 pm at 4:01 pm |
  11. Rudy NYC

    RealityBites wrote:

    Remember those stimulus bought high-speed corridors??
    ie.., jacked up price land bought from Washington relatives and insiders by the taxpayers.
    ------------------
    Never happened. You do not need this law to make such behavior illegal or criminal. How come no one has ever been charged or prosecuted in these scandals? Hmm?

    April 4, 2012 04:04 pm at 4:04 pm |
  12. Dominican mama 4 Obama (the real one)

    Dead-On-Arrival-Candidate

    Even those suffering from retrograde amnesia can remember the GOP's declared priority for 2008-2012:

    "The single most important thing we want to achieve is for President Obama to be a one-term president." – Mitch McConnell (R-KY)

    We have not forgotten.
    -------------------------------------------------
    No we have not.
    Obama 2012. Seriously America.

    April 4, 2012 04:15 pm at 4:15 pm |
  13. Al-NY,NY

    Truth and Nothing But the Truth

    In a ceremony at the White House, the president referred to the need to address public skepticism about an uneven system.
    ===================================================================================================
    "uneven"???? Isn't the correct word CORRUPT?!!! Had this law been in place years ago, Nancy Pelosi would be doing hard time right now.
    -------------------

    how VERY convenient of you to forget the House Financial Services Chairman Bachus (a Republican from AL) in your indictment. How very typical of the right

    April 4, 2012 04:19 pm at 4:19 pm |
  14. The Real Tom Paine

    Truth, Rangel was caught, he has paid all the fines he was told to, and he has no real power anymore. The "Charlie Rangel Treatment" is certainly no impediment to continuing on with your political career: rememeber Newt? His ethical lapses certainly have not hurt him. Tom DeLay has had a great career since being forced , even appeared on DWTS. Question is, will you support appropriating the money needed to keep a Charlie Rangel or a Newt Gingrich or a Tom Delay or Duke Cunningham or a Bob Ney or a John Ensign from abusing their positions? I doubt it, since you're all Talk and Nothing But Talk.

    April 4, 2012 04:23 pm at 4:23 pm |
  15. The Real Tom Paine

    Another Day in the Idiot Mines of the Obama Administration, Its amusing to see you scream about the POTUS and the Democratic leaders about this: how about Spencer Bacchus, who is under investigationf ro this? How about Mitch McConnell, who has vowed that his priority is not the pople of this country but to make sure Obama only serves one term? Your obvious hatred makes you nothing more than comic relief to the rest of us who inhabit the real world, and allow delusional fools on the right to inhabit their worlds of make-believe.

    April 4, 2012 04:41 pm at 4:41 pm |
  16. lili

    obama 2012 tired of all the corrupt clowns Move forward.

    April 4, 2012 04:43 pm at 4:43 pm |
  17. Jay

    Realitybites, you are simply a liar about what Pelosi said.
    She said that because of the lies and disinformation spread about the bill, the only way for people to know the truth would be to see the bill in action. The full text was and still is available online. . .but some people prefer lies to truth. Shame on you.

    April 4, 2012 04:50 pm at 4:50 pm |
  18. The REAL Truth

    @truth blah blah... did you forget about Cheney? How convenient eh?

    April 4, 2012 04:52 pm at 4:52 pm |
  19. Me IN HOUSTON

    This bill does not go far enough.
    But it's a start
    and ya gotta start somewhere.
    baby steps!

    April 4, 2012 05:16 pm at 5:16 pm |
  20. B

    It is about time! Classic case is the Supreme Court turned Political, voting against the People of this country in favor of Special interests and we all know that is predominately the Republicans stacking the deck all the way to the top.

    When did we ever hear people like Mitch McConnell openly say their first priority is making Obama a one term President !
    That is outrageous and reprehensible. Some of those people do not deserve to be in Congress and the only way to rid ourselves of these repugnant people is by Term Limits.

    April 4, 2012 05:17 pm at 5:17 pm |
  21. Marie MD

    This should have never be allowed. I bet Martha Stewart and others who have gone to jail for the same thing our elected officials have been doing for years and making themselves rich with a $170,000.
    Maybe this will keep some, not blaming everyone, of the trash that is elected at present from wanting to really serve their constituents if there is no money, on the side, to be had.

    April 4, 2012 07:17 pm at 7:17 pm |