Newburyport Daily News: Congress Getting its Financial Ethics in Order

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By Unknown

Republican Sen. Scott Brown backed up his claim of bipartisanship last week by helping push through a piece of legislation that President Obama had identified as one of his priorities.

The legislation, which passed the Senate on a 96-3 vote Thursday and is scheduled to be taken up by the House this week, prohibits members of Congress and their staffs from engaging in insider trading or otherwise using information gleaned through the performance of their duties, for financial gain.

Known as the STOCK (Stop Trading on Congressional Knowledge) Act, the bill was introduced by Brown in November. It appeared to be stalled, however, until a chance encounter between Brown and Obama following the Jan. 21 State of the Union speech in which the junior Massachusetts senator urged the president to get fellow Democrat Harry Reid, the Senate majority leader, to bring the bill to the floor.

A week later, the bill was before the full Senate where, with a few changes aimed at making government officials' financial transactions more transparent to the public, it was approved by an overwhelming margin. (Democrats in support included Brown's colleague, Sen. John Kerry.)

"With approval ratings of Congress at an all-time low, this bill represents an opportunity to build some trust with the American people," Brown stated. "The truth is, members of Congress have access to all kinds of sensitive information, and it has to be clear that the information is being used to serve our country, not to make a personal profit."

It's expected that the Republican majority in the House, anxious to improve its image with voters, will give the bill quick passage.

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