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Cantor Ruins Carney’s Breakfast

House Majority Leader Eric Cantor (R-Va.) apparently ruined the breakfast of White House Press Secretary Jay Carney this morning when Carney came upon news of the Cantor-authored House Republican version of the popular STOCK Act banning insider trading by members of Congress.

Cantor, it was widely reported this morning, changed the Senate bill by removing provisions requiring “political intelligence consultants” to disclose activities. The Senate passed its version of the measure last week by 96-3, and even some Senate Republicans are critical of Cantor’s changes.

Carney said Wednesday at the daily briefing that he was reading the newspaper very early in the morning in his kitchen when he “was shocked to see that even this simple bill that would ensure that everyone plays by the rules is being weakened.”

It’s not clear why Carney was shocked, since the press secretary has repeatedly accused House Republicans of outrageous behavior with respect to an assortment of bills and issues.

Carney appeared to have recovered by the time of the briefing early Wednesday afternoon, calmly dispatching reporters’ questions.

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15 Responses to Cantor Ruins Carney’s Breakfast

  1. And, what pray tell is a “political intelligence consultant” ?
    Actually, I don’t know anything about this bill, don’t know what it means, and don’t have a clue why it’s so important to MrCarney.

    • -snip-

      The definition of a “political intelligence contact” is broad and relates to information “intended for use in analyzing securities or commodities markets, or in informing investment decisions.” This would presumably include most, if not all, communications between investment advisers and Members of Congress or Hill staff or concerning any legislation that could impact their investments, potential investments and/or positions. Although there is a $5,000 compensation threshold before registration under the LDA is required, the definition of “political intelligence consultant” in the initial Senate and House versions of the bill does not contain an exception for individuals who spend less than 20 percent of their time engaging in political intelligence activities for a client.

      Read the page (there’s more) several times and I come up with HUH?
      You can read more here … mondaq.com

  2. “Political intelligence” has to be the oxymoron of the week, at least. Funny to think of the Cheese Doodle being shocked as he gobbled his Flakey Wakies.

    • Why indeed and why did the GOP fail to alert us with the hidden fees on Freddie/Fannie mortgages. Here’s a snip from a longer CBS article online. The old saw, “One lies and the other swears to it” comes to mind.

      For every $200,000, it amounts to an extra $15 dollars a month.
      It’s bad news for Patty Anderson, who’s buying a home in Virginia.
      Anderson will save a couple hundred dollars from having her payroll tax cut extended but her mortgage broker told her the new fee would cost her almost $9,500.
      CBS News went to Capitol Hill ask what Congress was thinking when they passed the mortgage fee hike. Boehner pointed the finger at the Senate.
      “As you’re well aware, this bill came over from the Senate. I don’t know how they justified it. We would rather have offset that two-month extension with reductions in spending,” he said.
      But the Senate blamed the House. And Democrats and Republicans blamed each other.

  3. In the Senate the STOCK ACT was sponsored by Sen. Joe Lieberman (I-CT) It is known in the Senate as Bill S 2038

    Sen. Mark Kirk (R-ILL) abstained

    Voting against were 1 Democrat and 2 Republicans
    Sen Jeff Bigaman (D-NM)
    Sen Richard Burr (R-NC)
    Sen Tom Colburn (R-OK)

    • Bingaman (D-NM) is retiring. He’s been in the Senate since 1983. Retiring with a net worth of 18 million plus (started out with zero).
      Obviously, he believes that honesty has no home in the Senate.

  4. An article for everyone’s info/consideration:

    http://dailycaller.com/2012/02/07/peter-schweizer-dump-stock-go-with-restrict%C2%A0act-to-clean-up-dc/

    “I just don’t see the SEC wanting to have a fight like that,” said Schweizer. ”And that is why I think law is only as good as it’s likely or willing to be enforced.”

    “Schweizer says the STOCK Act might do some good, but he prefers a bill called the RESTRICT Act, sponsored by Wisconsin Republican Rep. Sean Duffy.”

    “The RESTRICT Act basically says to members of Congress, number one, you need to put all of you assets into blind trust,” Schweizer explained. ”You know blind trusts aren’t perfect, but I think they are a help. And if you don’t want to do that then you have to disclose, I think on your website within three business days any financial transactions that you engage in.”

    “Schweizer says that transparency, above all else, is of paramount importance in wringing out lawmakers’ bad habits.”

    “During congressional hearings on the STOCK Act, Schweizer noted, the Securities and Exchange Commission said that it has never charged a member of Congress with insider trading.”

    Read more: http://dailycaller.com/2012/02/07/peter-schweizer-dump-stock-go-with-restrict%c2%a0act-to-clean-up-dc/#ixzz1lqXjN9Qk

    • “…Schweizer noted, the Securities and Exchange Commission said that it has never charged a member of Congress with insider trading.”

      Shocked, stunned and amazed. sarc off/

      It took Harry Markopolos 4 years of cage rattling to get the SEC to look into Bernie Madoff. Don’t care what it’s called, STOCK, RETREAT or Honest Abe Act. In the end, it always an ‘act’ with built in loop holes, large enough for lawyers to jump in and out of.

  5. Carney is really upset because an Oklahoma state congresswoman introduced a bill that would make it unlawful to masterbate….this would obviously destry carneys sex life.