Will insider trading bill become law?

It isn't Reid alone, it is the American people who are fed up with congressmen making tens of millions on investments that serve their own purpose. Wouldn't you like to know how many times a congressmen pushed a deal because they were making money on it? The American people to know. Wouldn't it be nice to find out how Mitch McConnell went from $5 million to $32 million in the worse economy the country has seen in 70 years? People can invest in what people like Warren Buffett invest in, but they understand that the time delay makes it impossible for them to make money off of the deal. He is doing what is important to me, and many other Americans. Just because it isn't what YOU want, doesn't mean that it is what I want. I hate to tell you this, but you aren't the only person in the US.

Yes, I know that it isn't Reid alone. But he is the one responsible for bringing bills up for a vote, including the BUDGET. See, we are of differing opinions on the time delay because not every investor will realize that there is one, especially if they are new to the game. He is NOT doing his job and that's important. There is nothing in the Constitution about Congress having to pass an insider trading bill. But there certainly it is the job as written down by the Constitution to get a BUDGET pass. It is not about what I want or what you want. Put very simply, Congress NEEDS a BUDGET. The American people NEED Congress to pass a budget. Tell me one single household, a small business, a company, a recipient of government services, a Union organization, a Charity, etc. that can operate without a BUDGET and not get into major financial trouble. Passing a BUDGET is certainly about wanting Congress to do its job but it is more about getting this Country out of this endless spending spree that it has been on for the past three years. That should be the FIRST priority. Then they can do the insider trading stuff and all of that other stuff. But all work on anything else should cease until the BUDGET gets passed not because it is a want but because it is a NECESSITY.

Sierras, you should know that budgets aren't worth the paper they are written on. We all remember GWB passing budgets that didn't included hundreds of billions in spending on the wars. If you are going to write a budget and exclude hundreds of billions than why write one in the first place? Why didn't the American people call for an ACCURATE budget during the Bush years? Ever wonder why Bush began office with a surplus, and left with a record deficit?

I agree with you 100%, but I am sure you will see this bill die as soon as the election is over. You are correct about the spouse issue, I should have considered this, but the SEC would have to investigate the spouse, and we all know how much power congress has over the departments they fund. I am sure that the first investigation start would result in a dramatic hit to their budget.

If they use their spouses or children's accounts the SEC will monitor Any large trade or trades that are made shortly before a big jump in the price of the stock and those who also sold it after the jump. From what I heard on the news some of the Trades of Congressmen would have triggered an investigation except for the fact that they were exempt form the law.

I agree, and what they will do is block only the member of congress, so they will just trade using their spouses account, until people realize that they doing this, and then they will just hope no one finds out.

Of course they would Bob, because of the amounts of money they made in the time frame they made it. Jack Abramoff was asked on CNBC if he ever received insider information from his capital hill friends. He said that Wall Street was to risky, and he would have done more time in jail for trading the information than he did for just buying the congressman, and women. The sad part is that he is 100% correct!!!

I agree 100% with you

This may be an election year ploy, but I hope that it will make it through congress, and change the law so that the people the write the laws aren't above the law. I agree that congress shouldn't be able to vote on groups that they have business with. The problem is that if you were to do that then groups that have regulations pending in congress could donate money to every congressmen making it impossible to them to vote on the bill. The whole key to avoiding this problem is to take the money out of politics, but the Supreme idiots have made that impossible.

Plus they get all the fringe benefits.

I agree, quite frankly the money should be taken out of it. They already make food wages with great benefits being in office. This whole crap of donations and things needs to end. Maybe there should only be pacs and very, very limited donations. I think a big part of the problem with the country is that our congressmes make 3 times as much as the average household just in pay and can't live on it.