There have been 11 Democrats currently in the House and Senate who have reportedly allegedly violated the Stop Trading on Congressional Knowledge (STOCK) Act of 2012, claiming they “unknowingly,” “accidentally,” or “forgot” to file financial disclosure reports when making trades.
The STOCK Act passed Congress with huge bipartisan support and was signed into law in March 2012. This came as a result of, and only months after, Breitbart News senior contributor Peter Schweizer released Throw Them All Out in 2011, exposing corruption in the highest echelons of elected life.
Schweizer’s book, which exposed Pelosi along with many others, revealed corruption concerns among both Republicans and Democrats on Capitol Hill, forcing Congress into adopting the STOCK Act that implemented stricter reporting and ethics requirements.
Since its adoption numerous members of Congress in both parties have been caught up in ethical conundrums and investigations — and currently now at least 11 Democrats nationwide serving in federal elected office stand accused of violating the rules under the law.
Breitbart News reported on the STOCK Act, which requires members to file periodic financial disclosure reports when trades over $1,000 are made:
Members are supposed to file “full and complete” financial disclosure reports of themselves and the members’ spouse’s assets, debts, and income, in addition to the filing “periodic reports” when transactions are made that exceed $1,000. Every member is required to do so within 30 to 45 days of the transaction.