Eric Weissmann Statement on the Passage of the STOCK Act

Thursday, February 09, 2012

(Louisville, CO) -- On Thursday Eric Weissmann, candidate for Congress in Colorado’s 2nd Congressional District, made the follow statement regarding the passage of the STOCK Act (H.R. 1148) to put an end to congressional insider trading.

"It is unfortunate that we cannot rely on members of Congress to do what’s right without having to pass legislation. The reports of members of Congress, including Congressman Polis, using inside information to invest in public and private companies that stand to benefit from Congressional activities is shameful and needs to be handled seriously if we are going to restore faith in our government.

"The passage of the STOCK Act by both the House and Senate is a good first step in deterring these abusive practices, but doesn’t go far enough to protect the American people from members of Congress who chose to act with self-interest over public good.

"I hope that in the conference process, members of the House and Senate will incorporate some of the provisions proposed in the RESTRICT Act (H.R. 3550) that would have every member of Congress invest their money in a blind trust or publish their investments publicly in real time, leaving no question about the investments they make. The RESTRICT Act also covers both public and private companies and leaves no loopholes for members to do the wrong thing.

"Members of Congress fail to realize they’ve been elected to serve their constituents and work to make their lives better, not the other way around. If elected, I will demand higher standards for members of Congress and work to restore faith in our government at a time when we desperately need it."

Businessman Eric Weissmann is a candidate for Congress from Colorado's 2nd Congressional District. More information can be found at www.ericweissmann.com

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