Congressman: 'We'll Certainly Go Back' And Investigate STOCK Act Gutting

Congressman: 'We'll Certainly Go Back' And Investigate STOCK Act Gutting

LARRY KUDLOW, CNBC HOST: Are you telling me they don’t have to declare their stocks? Not just the portfolio. Any point where they have to declare the ownership of specific stocks?

PETER SCHWEIZER: No, they have to disclose, get they do now. For federal officials in the executive branch, they’ve had to do that for years, and it’s publicly available. But you have to basically request it from the government. The claim was that this, by putting this information online, making it available for people to look at was going to create some sort of national security threat. I’m not sure why they would argue that so they’re going to have to disclose it. It’s not going to be available to the general public. You have to specifically request the information. For tranparency to work, it has to be accessible. That’s whole point.

KUDLOW: Congressman Chaffetz, why did this happen?

CONGRESSMAN JASON CHAFFETZ: I don’t know you have to ask the Obama administration, but I completely agree. In today’s day and age, it’s cheaper, more effective to put it online. To go out and print these things, put them on a shelf in a library is not doing any good.

KUDLOW: Who changed this?

CHAFFETZ: I don’t know, this is news to me. It’s not right. We’ll certainly go back and pursue it, but it’s easier to do it online. In today’s day and age, that’s where it all should be.