Mobile Menu - OpenMobile Menu - Closed

Rep. John Lewis on House Passage of STOCK Act

February 9, 2012
Press Release

WASHINGTON—Today The U.S. House of Representatives passed a watered down version of a Senate bill meant to stop members of Congress from using insider information to gain investment advantages. Senator Grassley lambasted House Republicans for weakening the “political intelligence” portion of the bill, which would require greater disclosure and transparency by members of Congress. Grassley was quoted by The Hill as saying, “it's astonishing and extremely disappointing that the House would fulfill Wall Street's wishes by killing this provision,” and implied the House Republican leadership was doing the bidding of Wall Street.

Rep. John Lewis made this comment about passage of the bill:

"It is very important that members of Congress focus on the business of the people while they are here and not using inside knowledge to gain financial advantages. I hope the leadership of the House will find more courage to stand for fairness and an even-hand in the development of policy. Currently this House seems willing to give public figures and big business a pass at every turn, while it exacts the highest costs from millions of Americans. This weakened bill demonstrates who the leadership of this Congress really serves. Admittedly, some legislation on this issue is better than nothing, but I wish that we would require the same standards of ourselves that we place on others. That would be closer to true justice."