Jon Stewart Tears Up Congress For Quietly Scaling Back Insider Trading Law: The ‘F*cker Act’
Jon Stewart took Congress and President Obama to task tonight in a blistering segment on insider trading and how Congress quietly passed a partial repeal of the STOCK Act, a law signed by Obama that would limit the ability of members of Congress to trade based on their insider knowledge, which is illegal for the general public to do. Stewart summed up the mess with the now-infamous words of A.J. Clemente: “f*cking shit!”
Stewart found it odd that insider trading is illegal for the public, but not for members of Congress, who have access to the “best possible, purest form of insider information.” He compared this to saying no one is allowed to consume illegal drugs unless you’ve got some 100 percent pure cocaine, in which case, go nuts.
He also showed a graphic saying the STOCK Act could have also been called the Fiscal Use of Congressional Knowledge Is Expressly Restricted Act, or FUCKER, just to hammer home the point. Stewart described the STOCK Act as trying to limit the access lawmakers and their well-connected investors have to some kind of “cash-grab machine.”
Stewart assumed that there was at least some debate over the bill, but the total amount of time it took to be brought up on the floor went by in an instant. Jay Carney was tasked with explaining that Obama would be signing it, and when he said that he was trying to come up with the right language to sum it up, Stewart ran the clip of Clemente saying “fucking shit!” to sum it up.
Watch the video below, courtesy of Comedy Central:
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