John Kline confuses constituents, goes off-message in saying there's no need for Congress insider trading ban [VIDEO]

By Aaron Rupar Thu., Feb. 2 2012 at 10:05 AM

Though evidence suggests otherwise, Kline believes current laws do a good enough job of banning insider trading.

In response to a question about Tim Walz's bill that would ban insider trading by members of Congress, U.S. Rep John Kline, R-Lakeville, adamantly told his constituents during a Monday town hall event in Shakopee that insider trading "is just as illegal for me as it is for anybody in this room."

That same day, The Hill reported that current laws do not prohibit lawmakers from profiting from nonpublic information they learn in the course of their duties. Hence the need for Walz's so-called STOCK Act.

Sally Jo Sorensen, an observer of Minnesota politics, said that "given that [Republican U.S. Rep. and former STOCK ACT opponent] Eric Cantor started flogging the need for passage of a stronger STOCK Act the next day, [Kline's remarks] seem pretty off message." Video of the town hall is after the jump.

Related coverage:
-- Tim Walz's proposed ban on Congress insider trading advancing quickly [VIDEO]

Tags:

insider trading, Rep. John Kline, STOCK Act

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qbawb1

Would this guy know the truth if it bit him?

Kirk the Conservative Jerk

Hot off the press-The bill would make lawmakers and top staffers file a public, online report within 30 days of buying or selling securities.Republicans insisted on including the executive branch. Sen. Charles Schumer (d) of New York said Democrats want to make sure the bill didn't get bogged down in a partisan dispute.

Partisan dispute Chuck?So what the Fu*k Chuck?It's good for everybody but the very person that proposed the law (Barack Obama)?

Kirk the Conservative Jerk

Like Nancy Pelosi, Harry Reid, and others, John must also be heavily involved in Congressional insider trading.If people like myself and others like Martha Stewart cannot trade in companies where we have insider info, neither should congress be allowed to.

Michelle Bachmann

Somebody should investigage this weasel's investments and holdings. I would be really curious to know how much John Kline is invested in defense and for profit education since those are the only two issues he seems to care about. City Pages since you are the backbone of the Liberal Media Establishment how awesome would it be for you guys to drop a nice bombshell issue right before the election exposing the Republicans. Don't bother with the Dems or else you will lose all the idiot Republican commentators who live to cry about how unfair City Pages is. Imagine the ad revenue from George Soros and Saul Alinsky! Pretty please?

JonnyBeGood

I'd agree - there has been too many reports of members of the government profiting from non public information. But also, I;d like to see full disclosure on how much they receive from lobbyist organizations....

Michelle Bachmann

I'd love to see what they get for speaking fees and who pays them. I'd love to know how much a politician gets for their book advances. I find it hard to believe someone would want to read a book by Harry Reid or Mitch McConnell. I know Sarah Palin would use her PAC to buy copies of her shitty book. That seems like it should be illegal.

Kirk the Conservative Jerk

Ya politicians make a ton of money of books and speeches.

In the 10 years since leaving the White House, former President Bill Clinton has earned more than $75 million in speaking fees alone, including nearly $11 million last year,

Tax returns released by the White House show Obama's adjusted gross income was $5,505,409 in 2009 - mostly from his best-selling book sales.

Unfortunately nobody apparently read Obama's books or listened to his audio books, otherwise they would have known about the numerous lies he told on the campaign trail. Google - white folks greed runs a world in needThis will expose the lie he told the press concerning his not knowing what his pastor (rev. wright) of 25 years was saying while Obama was in church.