Barack Obama and Vern Buchanan Cheer STOCK Act

In a rare display of bipartisanship, the White House and Congress applauded each other for enactment of the Stop Trading on Congressional Knowledge Act.

"The STOCK Act makes it clear that if members of Congress use nonpublic information to gain an unfair advantage in the market, then they are breaking the law," President Obama said today. "It creates new disclosure requirements and new measures of accountability and transparency for thousands of federal employees.

"That is a good and necessary thing. ... So Im very proud to sign this bill into law," Obama said.

Rep. Vern Buchanan, R-Bradenton, hailed the STOCK Act, saying, Its imperative that Congress and the executive branch take every step possible to regain the trust of the American people.

No elected or government official should be profiting from private information obtained because of their job.Serving the public is a privilege and honor -- not an opportunity for personal gain.