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News about Eric Cantor

Jul 23, 2012

Eric Cantor reportedly wrote loophole into insider trading bill to exempt congress:

CNN is reporting that House Majority Leader Eric Cantor’s (R-VA) office wrote a loophole into the House version of the Stop Trading on Congressional Knowledge Act (STOCK) exempting Congress members’ spouses and children from having to report stock market transactions over $1,000 in a timely manner.

The Senate version of the bill requires these transactions be reported within 45 days by both its members and their families. But a memo from the Office of Government Ethics, which oversees all federal executive branch employees, used the House version, telling them spouses and children were not subject to the rule.

No wonder politicians who enter Congress as middle-class people later leave office as multi-millionaires.

And think other countries have corrupt politicians. Eric Cantor ought to be run out of town on a rail, but he will probably be rewarded by his Republican Party.

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Dr. Stephen Jones

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