Con to the question "Should Insider Trading by Congress Be Allowed?"
"...Common Cause, Democracy 21, League of Women Voters, Public Citizen and U.S. PIRG – strongly support passage of the 'Stop Trading on Congressional Knowledge Act' (H.R. 682)...
The legislation would prohibit members of Congress, congressional staff and other federal employees from using non-public information obtained through their official duties for personal gain in the stocks and commodities markets. It would also prohibit private individuals and firms who attempt to mine such information from public officials to use it for insider trading. This legislation is critically important as the federal government increases its regulation and oversight – and invariably insider knowledge – of prospective business opportunities of banks and financial services companies...
With the federal government assuming a far greater role over the financial services industry, the opportunity and temptation for federal employees to cash in on their insider knowledge of legislation, rules and even business trends that can have a dramatic and immediate effect on the stock market will become all the more dangerous. Members of Congress and federal employees should be required to live by effective restrictions on insider trading."
Letter to US Representatives Brian Baird (D-WA), Louise M. Slaughter (D-NY), and Tim Walz (D-MN), www.citizen.org, Mar. 4, 2009
Organizations/VIPs/Others Individuals and organizations that do not fit into the other star categories.
"The League of Women Voters, a nonpartisan political organization, has fought since 1920 to improve our systems of government and impact public policies through citizen education and advocacy. The League's enduring vitality and resonance comes from its unique decentralized structure. The League is a grassroots organization, working at the national, state and local levels. There are Leagues in all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Hong Kong, in addition to the hundreds of local Leagues nationwide. The League of Women Voters of the United States and the League of Women Voters Education Fund operate at the national level with grassroots support from state and local Leagues.
The League of Women Voters is strictly nonpartisan; it neither supports nor opposes candidates for office at any level of government. At the same time, the League is wholeheartedly political and works to influence policy through advocacy. It is the original grassroots citizen network, directed by the consensus of its members nationwide. The 900 state and local Leagues – comprising a vast grassroots lobby corps that can be mobilized when necessary."
"About the League," www.lwv.org (accessed Sep. 5, 2009)
"The League of Women Voters, a nonpartisan political organization, encourages informed and active participation in government, works to increase understanding of major public policy issues, and influences public policy through education and advocacy."