• Petitioned U.S. House of Representatives

This petition was delivered to:

U.S. House of Representatives
U.S. Senate

Pass the STOCK Act

    1. Petition by

      Rich Smith

      Alexandria, VA

(The Motley Fool is a community of diverse opinions. The following is the writer's opinion and does not necessarily represent the views of The Motley Fool.)

As an individual investor, and a member of The Motley Fool, I am writing to register my support for H.R. 1148, the "Stop Trading on Congressional Knowledge Act" (STOCK Act.)

For years, academic and journalistic analyses have described the significant outperformance of members of the House and Senate, including their staffers and family members, when investing in the stock market. In some cases, members of Congress have been clocked at 12% annual outperformance of the S&P 500. (Warren Buffett, during his tenure as head of Berkshire Hathaway, only managed 10.8%.)

Such investing success seems extreme. It raises suspicions that our legislators, elected to do the People's business, are in fact trading on their non-public knowledge of laws in progress and planned. This gives them the ability to achieve investing returns beyond those ordinarily achievable by the lay investor. While such action does not currently violate any laws, it should.

Pass the STOCK Act now, and it will.

Thank you,

Recent signatures

    News

    1. Reached 4,000 signatures

    Supporters

    Reasons for signing

    • Bernard Douthit DENVER, CO
      • over 2 years ago

      It is outrageous that members of Congress and their staff can legally trade on insider information. This has to stop now!

      REPORT THIS COMMENT:
    • Charles Lamping FRISCO, TX
      • over 2 years ago

      There is no reason that Congress shouldn't be required to follow the same laws as every other American citizen. The fact that they have to pass a law that bans them from doing something that is illegal already is ludicrous.

      REPORT THIS COMMENT:
    • Jose Rosas ADELANTO, CA
      • over 2 years ago

      Language that includes anti-Political Intelligence should be included in the proposed law.This part of the law has been gutted. Congress needs to reinsert this part in Stock. Please contact your congressional representatives on this issue. If you do not think this is important watch the 60 minutes segment on this issue (http://www.cbsnews.com/video/watch/?id=7398557n&tag=contentMain;contentBody).

      REPORT THIS COMMENT:
    • Sarah Mastel GRESHAM, OR
      • over 2 years ago

      To quote Jon Stewart: "This is the 'No Sh*t Sherlock' act".

      REPORT THIS COMMENT:
    • ed pomeroy CORNELIUS, URUGUAY
      • over 2 years ago

      It stops Congressmen and women from doing ILLEGAL activities that any other citizen would be imprisoned for! This is outrageous!

      REPORT THIS COMMENT:

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