Wednesday, January 18, 2012

Who's The Pirate, Congress? Who's The Terrorist?

Congress has declared war on citizens, taxpayers and voters while the legislators are above the law. Pretty much ruling as queens and kings. No wonder our obsession for Great Britain and the other kingdoms. No wonder why the BP oil debacle still is on "investigation" and the wonders are just endless...

Mr. Ron Paul is seems not "comfortable" answering the question. He did not answered the question.

Who or what entity should be balancing power? The Supreme Court?
Are we no longer equal under the law?
Is this the United Kingdom States of America?
Where is the balance?

The U.S. Senate passed on February 2 a bill  to bar members of Congress, their staff and most executive branch employees from using non-public information for insider trading.

The bill, known as the Stop Trading on Congressional Knowledge Act, or STOCK Act, has passed by a vote of 96-3, and also requires any trade over 1,000 U.S. dollars to be reported within 30 days.

President Barack Obama praised the outcome, saying "no one should be able to trade stocks based on non-public information gleaned on Capitol Hill."

UPDATE: 2--9-2012 - The House of Representatives approved a bill that would prevent members of Congress from financial market trading based on nonpublic information they have obtained in the course of their congressional work.

The bill, which was approved 417 to 2, is similar to a bill approved last week by the Senate, but does not include a provision regulating those in the financial information business.

House Majority Leader Eric Cantor stripped a provision requiring - "political intelligence" - those that collect financial information and sell it to Wall Street to register the same way lobbyists do. The House legislation does include a provision that would  extend the new regulations to include the executive branch as well.

The bill may now head to a special committee of lawmakers tasked with reconciling the differences between the House and Senate bill. Alternately, the Senate could take up the House-passed version of the bill and make changes before sending the bill to Mr. Obama for his signature.   

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