CNN exclusive: Congressional insider trading ban might not apply to families
July 19th, 2012
09:29 PM ET
2 years ago

CNN exclusive: Congressional insider trading ban might not apply to families

Washington (CNN) – It was a rare show of bipartisanship - President Barack Obama, flanked by Democrats and Republicans in April, signing into law a bill that would ban insider trading on Capitol Hill. The measure, known as the STOCK Act, had passed the House and Senate in warp speed.

"The powerful shouldn't get to create one set of rules for themselves and another set of rules for everybody else," the president said at the time.

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Filed under: Congress • Wall Street
soundoff (7 Responses)
  1. Myviewis

    And they're worried they won't get to see Romney's tax returns. Gotta love politics and their games.

    July 19, 2012 09:36 pm at 9:36 pm |
  2. Thomas

    Of corse not , it's better for taxes and what better insider is there then family .

    Who is in charge here ?

    July 19, 2012 10:18 pm at 10:18 pm |
  3. CBR

    Who is surprised about that. There has to be a loophole for the politicians. They will continue to have different rules than the rest of us.

    It might be interesting to know which members of Congress have off-shore accounts. Just another way to keep the money coming in.

    July 19, 2012 10:56 pm at 10:56 pm |
  4. S.B. Stein E.B. NJ

    If it doesn't apply to everyone connected to members of Congress, then what is the point? No one should be able to act on insider information.

    July 20, 2012 07:00 am at 7:00 am |
  5. Internet Child

    "The powerful shouldn't get to create one set of rules for themselves and another set of rules for everybody else." Oh, the irony.

    July 20, 2012 08:48 am at 8:48 am |
  6. Workers Unite !

    Of course it doesn't. They create loopholes for everything. Time to shut down the cesspool in Washington. We need Term Limits in every elected official and extended to hired bureaucrat employee posts as well. This government is supposed to be here for the people, not the other way around.

    July 20, 2012 09:47 am at 9:47 am |
  7. enuff

    It is STiLL insider trading -regardless of whether it's a family member acting on a stock tip. It is still illegal.

    July 20, 2012 09:56 am at 9:56 am |