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Crackdown on insider trading on Capitol Hill

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  • Description

    Senate considers new legislation to combat issue

  • Duration 2:12
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It just moments ago held a vote concerning legislation aimed at preventing members of congress from cashing in based on insider information.

Correspondent Shannon Bream -- -- -- -- right now up on Capitol Hill that he mentioned.

Hello rebel just shortly after the White House issued a statement saying -- quote strongly supports the senate bill.

By a vote of 93 to two just moments ago senators voted to move it forward.

Send me a bill that -- insider trading by members of congress I will sign it tomorrow.

This -- take up the president's challenge first with the stock act sponsored by Democrat Kristen Gillibrand and Republican Scott Brown.

The bipartisan measures aimed at cracking down on stock trades by members of congress and certain staff members done on the basis of information not a -- -- to the public the whole idea.

Is to try to Begin to restore some of the trust and confidence of the American people have lost didn't the institution of congress.

Senate majority leader Democrat Harry Reid predicts the senate bill will be passed by the end of this week.

Members of congress not about the law.

You must play by the same rules every other American plays -- Then focus will shift to the house where majority leader Republican Eric hitters facing criticism of the fact that legislation introduced by Democrat Tim Walz appears to be stalled.

Even though what has 250 co sponsors including 89 Republicans.

Kantor's office says he plans to move an expanded version of the senate bill that will not only deal with stock trades quote.

But also prevent all federal officials and employees from using insider information for profit in other areas.

House Republican Sean Duffy is already introduced a measure that would force members and their senior staffers to put assets into a blind trust or.

Report all transactions no matter the amount within three -- Days so Bill Gates comes and meets senior office in two days when you're short Microsoft.

The media -- -- go hey what's going.

Reid has announced that he will allow amendments to the measure currently pending in the senate.

Which could slow it down but ultimately may resolve some of the concerns being voiced by members on both sides of the -- About potential loopholes that may need to be closed Brett.

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