Today we saw a small step forward in reform with the signing into law of the STOCK Act. Though many of us feel that the bill was watered down and thus could have been much stronger, this is at least a small step in the right direction. Obviously, there is still a lot more we need to do to combat government corruption (especially in addressing the rampant crony capitalism in our government’s executive branch, which we see so clearly on display in the Obama administration). The best parts of this Act are a requirement for more immediate financial disclosure (with lawmakers required to disclose their trading activities every 45 days instead of just once a year) and a provision that outlaws sweetheart IPO deals like the ones Nancy Pelosi benefited from in the past.
Today’s reform victory wouldn’t have been possible without the great research done by Peter Schweizer in his groundbreaking book “Throw Them All Out” and the investigative reporting of “60 Minutes” based on Peter’s book. We should all applaud them, and look forward to the next steps in our movement to eradicate the cronyism and government corruption in DC.
- Sarah Palin