Tags: GOP | stock | trading | bills

GOP Support Grows for Stock Trading Bills

Monday, 28 Nov 2011 04:49 PM

By Newsmax Wires

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Allen West Says Goodbye to Florida at Holiday Party

Saturday, 20 Dec 2014 08:49 AM

Tea party hero Allen West is making his final Florida appearance before moving to Texas. . . .

Rep. Mike Kelly Offers Obama 'Lump of Coal for Christmas'

Saturday, 20 Dec 2014 07:50 AM

All forms of energy in the United States should be developed to spur job creation and economic growth, Pennsylvania Repu . . .

Politico: Obama May Give Dems 80 Percent of 2016 Latino Vote

Friday, 19 Dec 2014 19:18 PM

President Barack Obama may be on track to helping deliver as much as 80 percent of Latino voters to the 2016 Democratic  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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