Amending A Bill To Kill It

Feb 2 2012 @ 7:33am

Bainbridge believes that Eric Cantor is trying to kill the STOCK Act, which would prohibit insider trading by Congress:

[Cantor] now trying to extend the STOCK Act "so it includes land deals and other types of transactions and not just stock trades." Classic taking a good idea too far. The problem is insider trading in stocks, not insider trading in land deals. Cantor obviously hopes that incuding a vast array of economic activity within the bill, exposing members of Congress to disclosure obligations and other restrictions, as well as increasing their liability exposure, will make the bill sufficiently unpopular so as to prevent its passage.