|John Boehner gives the thumbs up to congressional insider trading|
The bill doesn't just eliminate a controversial requirement that personal financial disclosures of tens of thousands of high level federal employees be made publicly accessible online. It also reverses two critical components of the original STOCK act: mandatory electronic filing of PFDs by the president, his cabinet and members of Congress, and the creation of a publicly accessible database.
The elements of the STOCK Act that were removed include:
- Creation of searchable, sortable disclosure of the information contained in reports even for Congress, the president, vice president, the president’s cabinet and congressional candidates.
- Required electronic filing for Congress, the president, vice president, the president’s cabinet and congressional candidates, as well as high-level executive and congressional branch employees.
This is not true disclosure. Contact President Obama’s office today to signal your disappointment, and urge YOUR members of Congress to file their personal financial disclosure documents electronically and to propose legislation reinstating the database provision.