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    Eric Cantor tried to slide a personal loophole into the insider trading bill

What does Eric Cantor regret most? That someone actually caught his little sleight-of-hand:
The Raw Story: “House Majority Leader Eric Cantor’s (R-VA) office wrote a loophole into the House version of the Stop Trading on Congressional Knowledge Act (STOCK) exempting Congress members’ spouses and children from having to report stock market transactions over $1,000 in a timely manner. […] The law, which bars members of Congress from trading stocks based on information they get for work purposes and requires them to register any stock transactions over $1,000 within 45 days, was signed into effect in April, and was praised at the time for being a bipartisan effort.”
“It was not the intention of the House to differ with the Senate-passed bill with respect to application to spouses and dependent children. We did not believe at the time that we had differed from what the Senate had done. Since new information has been brought to our attention with respect to this discrepancy, we are reviewing our options regarding transaction reports in the House of Representatives.” — Doug Heye, a spokesperson for Cantor’s office
Oh sure. Nothing different at all about the Senate including spouses and children in the reporting requirements and Cantor deliberately removing that requirement.
Tea Party Go!

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    Eric Cantor tried to slide a personal loophole into the insider trading bill

    What does Eric Cantor regret most? That someone actually caught his little sleight-of-hand:

    The Raw Story: “House Majority Leader Eric Cantor’s (R-VA) office wrote a loophole into the House version of the Stop Trading on Congressional Knowledge Act (STOCK) exempting Congress members’ spouses and children from having to report stock market transactions over $1,000 in a timely manner. […] The law, which bars members of Congress from trading stocks based on information they get for work purposes and requires them to register any stock transactions over $1,000 within 45 days, was signed into effect in April, and was praised at the time for being a bipartisan effort.”

    “It was not the intention of the House to differ with the Senate-passed bill with respect to application to spouses and dependent children. We did not believe at the time that we had differed from what the Senate had done. Since new information has been brought to our attention with respect to this discrepancy, we are reviewing our options regarding transaction reports in the House of Representatives.” — Doug Heye, a spokesperson for Cantor’s office

    Oh sure. Nothing different at all about the Senate including spouses and children in the reporting requirements and Cantor deliberately removing that requirement.

    Tea Party Go!

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    — 1 year ago with 7 notes
    #politics  #eric cantor  #stock  #insider trading 
    1. occupy-my-blog reblogged this from underthemountainbunker
    2. tacomadan reblogged this from underthemountainbunker
    3. liberalforever said: The required amount to be registered SHOULD BE $1, not $1000! These are public servants, we should hold them to a much HIGHER standard of transparency!
    4. underthemountainbunker posted this