Prof. Painter Quoted in MPR Article on STOCK Act

Professor Richard Painter was quoted in a Minnesota Public Radio story on the Stop Trading on Congressional Knowledge (STOCK) Act that specifically provides that Members of Congress and their staff cannot trade in securities markets based on nonpublic information learned through their official position. The article states, in part, that "Painter [is] concerned about a related issue that the STOCK Act doesn't address at all -- the selective leaking of inside government information to investors and campaign contributors by lawmakers and administration officials." Painter is quoted as saying, "The relationship of campaign cash in return for information is just an extension of the broader problem we have of campaign cash in return for other favors." MPR reports that "In an interview after the bill signing, [bill sponsor Representative Tim] Walz [D. MN] agreed with Painter's concerns and called it a 'glaring loophole' in the new law."