U.S. Congressman Jim Cooper (TN-05) issued the following statement today upon House passage of the bipartisan Stop Trading on Congressional Knowledge (STOCK) Act, which would ban insider trading among members of Congress. Cooper is a longtime co-sponsor of this bill to prohibit members from using non-public information regarding current or potential legislation to buy or sell stock for personal gain. The bill also establishes stricter disclosure rules for members' financial transactions.
"It's good that the House passed this bill, but terrible that some of my colleagues were apparently using their jobs for personal gain. Americans are understandably fed up with Congress, and I hope this bill will help restore citizens' faith in our government."