Monday, January 30, 2012

Prez O in Favor of STOCK Act

from the inbox:

In the State of the Union Address, the President laid out a blueprint for an economy built to last, where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules – especially those who have been sent here to serve the American people.
Last week, the President called on Congress to pass a bill that makes clear that Members of Congress may not engage in insider trading.  No one should be able to trade stocks based on nonpublic information gleaned on Capitol Hill. So we are pleased the Senate is one step closer to passing the STOCK Act. While there’s more work to be done to eliminate the corrosive influence of money in politics, this is an important step to repair the deficit of trust between Washington and the American people. We urge Congress to pass this bill, and the President will sign it right away.

Can carried interest be next?  (That's the rule that lets people pay a lower tax rate on hedge fund and capital gains money than is due on salaried earnings)

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