Talking the President’s Progressive Achievements #9 Stock Act

by Terry Gresham

What has Obama done?  What happened to HOPE? Where has he been the last couple of years? How is a nation to survive? Where is this guy taking America?  Is there anything that this President has contributed to the great institution called America? Are average citizens safe in this country? How are we to get good leadership these days?   Is Obama out to make me look bad?  What?  What?  What?  Why?  Why?  Why?

These questions and more will be discussed in an Okieprogressive segment called:  Talking the President’s Progressive Achievements.

Segment 9: Insider Trading Stock Act

President Obama has signed the Stock Act.  This makes it illegal for members of Congress to line their pockets because of the privileged knowledge that comes from being a public servant. Yes, believe it or not, there are some servants of the public that have gotten extremely wealthy by being just that, a servant of the people.  I know this is shocking but it does takes place. For some time now, folks in politics have been exempt from this illegal activity, an activity that would land all other Americans in federal prison.  Now these people are held to the same standards–they put their pants on one leg at a time, just like the rest of us, now.

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.

 “The STOCK Act makes it clear that if members of Congress use nonpublic information to gain an unfair advantage in the market, then they are breaking the law. It creates new disclosure requirements and new measures of accountability and transparency for thousands of federal employees. That is a good and necessary thing,” Obama said during remarks while signing the bill. “We were sent here to serve the American people and look out for their interests — not to look out for our own interests.” – The Daily Ticker

OpenCongress Summary

Amends the Security and Exchange Act to make it illegal for any person to buy or sell stocks, securities, derivatives or other financial instruments while in possession of nonpublic information related to “pending or prospective” legislative matters if the information was obtained “knowingly from a Member or employee of Congress” or “by reason of being a Member or employee of Congress.” It would also amend the House Ethics manual to say that House employees shall not disclose nonpublic information if they have “reason to believe” that the information will be used to inform financial transaction decisions.”

 I don’t know about anybody else but I’m mad as hell. In the last couple of years here in Oklahoma, I haven’t done for my country anything matching this Making it it illeagal for members of Congress to use nonpublic information to gain unfair advantage in the market.

Damn  that Obama!  Curses!  In comparison, I ain’t done squat.

Well, that concludes this installment of …

Talking the President’s Progressive Achievements.

Tune in next time to take a look at President Obama’s:

  • Consumer Financial Protection Bureau
  • Ending U.S. combat operations in Iraq
  • Repaired relations with allies
  • Results on Environmental Policy
  • Leveling the playing field for workers
  • Landmark Wall Street reforms
  • Innovation and reform in public education
  • LGBT Equality
  • Equality for women
  • Fighting for working families
  • Health insurance for 32 million
  • Cutting health costs for small business
  • Regulating big tobacco
  • Ending Bush torture policies
  • Nuclear arms reduction
  • Ordering closure of CIA detention facilities
  • Getting a seat on UN Civil Rights Council
  • Doubling fuel efficiency standards
  • and more

Night Y’all,

Terry Gresham

See also:

Talking the President’s Progressive Achievements #1  Wall Street Reform

Talking the President’s Progressive Achievements #2  Credit Card Reform

Talking the President’s Progressive Achievements #3  Wall Street Reform

Talking the President’s Progressive Achievements #4  Women’s Equality

Talking the President’s Progressive Achievements #5  Torture Policies

Talking the President’s Progressive Achievements #6  Returning Heroes

Talking the President’s Progressive Achievements #7: DADT


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