On the recordJanuary 26, 2012
Like millions of Americans all across our country, I was shocked to learn that insider trading by Members of Congress, in fact, and their families and their staff, using nonpublic information gained through their congressional work, is not clearly and expressly prohibited by law and the rules of Congress. The American people need to know that their elected leaders play by the exact same rules by which they have to play. They also deserve the right to know their lawmakers' only interest is what is best for the country, not what is best for their own financial interests. Members of Congress, their families and staff, should not be able to gain personal profits from information they have access to that everyday middle-class American families do not. It is simply not right. Nobody should be above the rules. I introduced a bipartisan bill in the Senate with 28 of our Senate colleagues from both sides of the aisle to close this loophole. The STOCK Act legislation is very similar to the legislation introduced by my friends in the House, Congresswoman Louise Slaughter and Congressman Tim Walz. I thank them for their longstanding dedication and leadership to this important issue. I also thank Chairman Lieberman, Ranking Member Collins, and all of the committee members for their work in acting swiftly to move this bipartisan bill out of committee with a sense of common purpose straight to the floor for a vote.…
Source
govinfo.gov




