Insider Trading & Congressional Accountability - Melanie Sloan's testimony before the Senate

http://www.citizensforethics.org/press/entry/melanie-sloan-testifies-congress...

Today, the Committee on Homeland Security and Governmental Affairs held a hearing on legislation to prohibit insider trading by members of Congress and congressional staff: the "Stop Trading on Congressional Knowledge Act" (S. 1871 and S. 1903). CREW Executive Director Melanie Sloan testified before the panel on why it is critical Congress act to explicitly make such practices illegal. Ms. Sloan released the following statement:

"A huge number of Americans believe members of Congress use their positions to feather their own nests. Frankly, many of them do. Studies indicate members of Congress have a much higher rate of return on their investments than the average Joe, suggesting they may be trading on non-public information. If any of the rest of us engaged in this sort of conduct, we'd land behind bars. Members of Congress just get rich.

It's too bad this needs to be spelled out, but there you have it: Members of Congress must be held to the same standard of conduct as everyone else. Passing a STOCK Act is a good first step."

Category:

News & Politics

Tags:

• Senate
• Congress
• Stocks
• Corruption
• Testimony
• Election
• Politics

[atlantiso]

Melanie Sloan didn't waver and came off as bold and determined. I was greatly impressed.

[atlantiso]

She was great! I watched it on Cspan. I am so disillusioned by the path our government has taken. One great man said : "Every generation needs a new revolution." Otherwise we will pay with blood and its not too far off as far as i can tell..