Tags: GOP | stock | trading | bills

GOP Support Grows for Stock Trading Bills

Monday, 28 Nov 2011 04:49 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Increasing numbers of Republicans are offering their support for a Democratic bill that would forbid members of Congress from using inside information in trading financial securities such as stocks, The Hill reports.

A recent “60 Minutes” story alleging that some House members benefited from trades based on information they were privy to in legislative deliberations has prompted representatives and senators to favor the Stop Trading on Congressional Knowledge Act that Rep. Tim Walz, D-Minn., introduced in March.

The bill now has 100 co-sponsors, compared with only 10 before the “60 Minutes” report. And the bill now has 19 Republican co-sponsors, up from just one before the CBS program broke the story.

Five Republican senators offered a companion bill just before the Thanksgiving break. Scott Brown of Massachusetts was the chief sponsor, joined by Roy Blunt of Missouri, Dean Heller of Nevada, Marco Rubio of Florida, and Olympia Snowe of Maine.

The "60 Minutes" report alleged that House leaders, including Minority Leader Nancy Pelosi, D-Calif., Speaker John Boehner, R-Ohio, and House Financial Services Committee Chairman Spencer Bachus, R-Ala., profited in their stock investments from information during deliberations. All three denied wrongdoing.

When it came to Pelosi, the report focused on her participation in an initial public offering by the credit card company Visa while she was House speaker. Her office labeled the report a right-wing smear directed at her.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Democrats Keep Obama at Distance Ahead of Mid-Term Elections

Friday, 29 Aug 2014 22:00 PM

Barack Obama's Democrats are walking a tightrope 10 weeks before US congressional elections: do they solicit the unpopul . . .

Mitch McConnell's Campaign Manager Resigns Amid Iowa Scandal

Friday, 29 Aug 2014 21:55 PM

Senate Minority Leader Mitch McConnell's campaign manager resigned Friday amid fallout from a scandal in Iowa involving  . . .

Obama: GOP Captive to Ideologically Rigid Group

Friday, 29 Aug 2014 21:17 PM

President Barack Obama on Friday blamed dysfunction in Congress on a Republican Party he said is captive to an ideologic . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved