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Apr 17 2013

When Congress moves quickly

It is always interesting to see those things on which Congress moves with lightning speed. It usually is with respect to things that benefit themselves or their financial supporters and at those times they reveal an astonishing level of bipartisan cooperation.

For example, a year ago, as a result of some scandals, Congress passed and president Obama signed something known as the STOCK (Stop Trading on Congressional Knowledge) Act that was designed to prevent abuse by Congress people and their staff benefit from their inside knowledge of legislation to trade in the stock market. Information about their stock trades was supposed to posted online so that people could see if there was suspicious trading around the time of relevant legislation.

Then last Friday afternoon, a time when people are not paying much attention, Congress passed a law repealing the most transparent elements of the act, the things that gave it real teeth, and president Obama signed it into law. How long did it take to debate and pass this? Less than 30 seconds total in both houses.

That’s how government works.

4 comments

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  1. 1
    sunny

    Thank you for keeping me abreast of the shenanigans of our elected representatives.

  2. 2
    unbound

    Yeah, whenever Congress moves quickly on anything, you’ll make more money betting that they are up to no good as opposed to them doing something positive.

  3. 3
    ollie

    Mano, members of Congress and the Executive branch are still covered; the private information of the related staff were mostly affected by this.

    http://thomas.loc.gov/cgi-bin/query/D?c113:1:./temp/~c113JZFchN::

  4. 4
    left0ver1under

    sunny (#2)

    Thank you for keeping me abreast of the shenanigans of our elected representatives.

    House of Reprehensibles is more like it.

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