Bill could require online posting of financial data for many federal leaders

Thousands of federal officials would be required to publish their financial disclosure information online under a bill that is intended to ban members of Congress from profiting on insider stock trading, Federal Times reports.

Senate Majority Leader Harry Reid (D-Nev.) filed a motion March 20 to proceed with the approval of the House version of the Stop Trading on Congressional Knowledge  (STOCK) Act. The bill, which could be voted on as early as March 22,would require about  28,000 senior government officials and military officers to post their financial information. The affected officials would include presidential appointees, members of the senior executive service and general and flag officers -- all of whom are required to file the Office of Government Ethics Form 278 for financial disclosure.

 

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Reader comments

Tue, Mar 27, 2012

Read the Enrolled Bill -- passed by the Senate on 3/22. All 278s will be required to be made available on line. Section 11(a).

Wed, Mar 21, 2012 JC Atwood

But, why should 28,000 Fed employees have to disclose anything, when the gutted Stock Act legalizes the corruption of sales of DC insider tips to wealthy investors (that would send voters to jail)? The tracking provision and enforcement provision were deleted by Eric Cantor, and the Senate is unwilling to reconcile their own bill, announcing yesterday that they would only vote on the gutted House version of the Stock Act. If lawmakers can pass inside tips to consultants for profit, who are untracked (donors, Wall St, future contacts), why should ANY Federal Employee be bound? Only $400 million a year but exploding fast, Congress has decided to legalize corruption, so why not admit it? Obviously, uninformed citizens did not overwhelm the Senate with demand for the normal reconcilation step, at least enough to stop the big $$ corruption. When the supposedly liberal New York Times doesn't even dare to name the bill they say is essential to stop corruption, you know we now have an oligarchy: http://www.nytimes.com/2012/03/19/opinion/on-a-corruption-bill-the-senate-gets-it-right.html

Wed, Mar 21, 2012

NO...only TRADING income information is posted on the Internet if they participate in the financial markets. WHY is the news being spun in this way???

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