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On Thursday, the Senate voted to eliminate the wide release of public records describing the personal finances of public officials which was required in the STOCK Act.
The Stop Trading on Congressional Knowledge Act passed by Congress nearly a year ago was aimed at stopping the practice of insider trading, and the legislation made it mandatory for the online posting of personal financial disclosures statements for legislators filed each year.
But on Monday with a stroke of a pen, President Obama eliminated the provision that requires the online publication of these records.
Les Leopold, author of How to Make a Million Dollars an Hour, joins us to explain what this means for government transparency and insider trading.
.Obama edits STOCK Act to reduce transparency
On Thursday, the Senate voted to eliminate the wide release of public records describing the personal finances of public officials which was required in the STOCK Act.
The Stop Trading on Congressional Knowledge Act passed by Congress nearly a year ago was aimed at stopping the practice of insider trading, and the legislation made it mandatory for the online posting of personal financial disclosures statements for legislators filed each year.
But on Monday with a stroke of a pen, President Obama eliminated the provision that requires the online publication of these records.
Les Leopold, author of How to Make a Million Dollars an Hour, joins us to explain what this means for government transparency and insider trading.
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