Floor Speech of Sen. Chuck Grassley

Political Intelligence Amendment to the STOCK Act

Delivered Feb. 9, 2012

I would like to speak as if in morning business on my amendment to the STOCK Act.

In the dark of night Tuesday, the House released its version of the STOCK Act, which wiped out any chance at meaningful transparency for the political intelligence industry.

What we are faced with is a powerful industry that works in the shadows.  They don't want people to know what they do or who they work for.  They are afraid of sunlight.

My amendment was adopted here in the Senate on a bipartisan basis, a rare occurrence recently.  It simply requires registration for lobbyists who seek information from Congress in order to trade on that information.

It's straightforward.  If trades are taking place based on political intelligence obtained from Congress or the executive branch, people should know who is gathering such information.

Not requiring political intelligence professionals to register and disclose their contacts with government officials is a gaping loophole that my amendment fixes.  In fact, political intelligence firms actually brag about this loophole.

For example, on its website, the Open Source Intelligence Group, a political intelligence firm, says the following:

"Our political intelligence operation differs from standard 'lobbying' in that The OSINT Group is not looking to influence legislation on behalf of clients, but rather provide unique 'monitoring' of information through our personal relationships between lawmakers, staffers, and lobbyists.

Providing this service for clients who do not want their interest in an issue publicly known is an activity that does not need to be reported under the Lobbying Disclosure Act, thus providing an additional layer of confidentiality for our clients.

This service is ideal for companies seeking a competitive advantage by allowing a client's interests to remain confidential..."

If you didn't hear it the first time, let me repeat some of that for you,

"Providing this service for clients who do not want their interest in an issue publicly known is an activity that does not need to be reported under the Lobbying Disclosure Act, thus providing an additional layer of confidentiality for our clients."

You have it here on paper.  This firm is telling potential clients, if you don't want anyone to know what you are asking of federal officials, hire us.  That's just wrong, but that's why firms like this don't want to register.

If somebody on Wall Street is trying to make money off of conversations they have with senators or staff, we should know who they are representing.  It's just that simple.

Since the passage of my amendment, which would require political intelligence lobbyists to register as lobbyists, I have heard a great deal of "concern" from the lobbying community.

Political intelligence professionals have claimed that they should do their business in secret for several reasons.

First, they've said that if they are required to register, they will no longer be able to sell information to their clients because people will not want to hire them.  That makes me wonder, what do they have to hide?

Second, they have said that many of them have large numbers of clients, and it would take them a lot of time to register these large numbers of secret clients.  Again, that makes me think we need more transparency to find out who all these people buying political intelligence are.

Third, they have claimed that it would not address the so-called "20 percent loophole" that allows people who spend less than 20 percent of their time lobbying from having to register as lobbyists.

Well, on this, I have some good news for them.  We don't make the mistake that caused the 20 percent loophole.

My amendment requires anyone who makes a political intelligence contact to have to register.   No loopholes, no deals, no special treatment - everyone registers.

Finally, I just want to assure people: Journalists won't need to register.  A constituent looking for information in order to make business decisions won't have to register.  Only political intelligence brokers, people who seek information so that others can trade securities, would have to register.

As I said before, if people want to trade stocks from what we do here in Congress, we should know who you are.  The American people deserve a little sunlight into this industry.  Last night the House turned away from transparency.  The House supported the status quo.

What we need is a full and open conference process so that Congress, both the House and Senate, can work together and improve this bill.  If not, I worry that we will miss the best opportunity we have had for openness and transparency in years.

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Prepared Floor Statement of Senator Chuck Grassley

Justice Department Accountability Matters

More Fast and Furious Stonewalling

Thursday, February 9, 2012

 

For over a year now I have been investigating Fast and Furious, an operation of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).

This has been a complicated investigation.  It's been made even more difficult because of the Justice Department's lack of candor and transparency.  The Justice Department is stonewalling, interfering with Congress' constitutional responsibility of oversight.

For example, the Justice Department Office of Inspector General recently disclosed that it has received 80,000 pages of documents from the Department and over 100,000 emails.  That stands in stark contrast to the 6,000 pages of documents we've received from them.

Similarly, the Inspector General has been allowed to conduct 70 witness interviews.  By contrast, the Justice Department has only provided 9 witnesses to us.

Last week Attorney General Eric Holder testified before the House Committee on Oversight and Government Reform.  The Justice Department did a document dump to Congress the Friday night before the hearing.

That has become a bad habit for the Department.

In fact, without giving us any advance notice that it was coming, they slid a CD of documents under our door after business hours when my office was already closed.  They managed to find time to leak the documents to the press during regular business hours.

Why would they be so mysterious, wanting to put a disk under our door on a Friday night, giving it to the press hours before?  What sort of attitude is that of the Justice Department towards the cooperation that you ought to have with our filling our constitutional role of oversight?

I'd say it's hardly any cooperation whatsoever.

Now, even though we get a dribble here and a dribble there, even though we get a c.d. under the door instead of very open face-to-face receiving documents, what we got last Friday did reveal further facts about a previously unknown proposal to allow these guns to cross the border.

We have long known that in March 2011, Deputy Attorney General James Cole had a conference call with all Southwest Border U.S. Attorneys.

In a follow-up email after the call, Mr. Cole wrote:

"As I said on the call, to avoid any potential confusion, I want to reiterate the Department's policy: We should not design or conduct undercover operations which include guns crossing the border. If we have knowledge that guns are about to cross the border, we must take immediate action to stop the firearms from crossing the border, even if that prematurely terminates or otherwise jeopardizes an investigation."

Attorney General Holder himself told us at a hearing in May that Mr. Cole was simply reiterating an existing Justice Department policy in his email, not communicating a new policy.

So imagine my surprise when I discover in the documents slid under my door late that Friday night that while in Mexico, Assistant Attorney General Lanny Breuer proposed letting guns cross the border.

His proposal came at the same time the Department was preparing to send its letter to me denying that ATF ever does the very thing he was proposing.

In a February 4, 2011 email, the Justice Department attaché in Mexico City wrote to a number of officials at the Justice Department:

"AAG Breuer proposed allowing straw purchasers to cross into Mexico so [the Secretariat of Public Security] can arrest and [the Attorney General of Mexico] can prosecute and convict.  Such coordinated operations between the US and Mexico may send a strong message to arms traffickers."

So, we've got people here in Washington who say the program doesn't exist.  At the same time we've got people talking down in Mexico City of what we're trying to accomplish by the illegal sale of guns.

The recipients of this email included Mr. Breuer's deputy, Jason Weinstein, who was helping to write the Justice Department's letter to me that they would later withdraw for its inaccuracies.

Mr. Weinstein was sending updates about the draft letter to Mr. Breuer in Mexico.  Yet, during his testimony to the Senate Judiciary Committee, Mr. Breuer downplayed his involvement in reviewing the draft letter.

It is outrageous to me that the head of the Justice Department's Criminal Division proposed exactly what his Department was denying to me was happening.

The Justice Department's letter to me clearly said:

"ATF makes every effort to interdict weapons that have been purchased illegally and prevent their transportation to Mexico."

Yet as those words were being sent to Congress Mr. Breuer was advocating that a Justice Department operation allow weapons to be transported into Mexico.  Further, it directly contradicted what the Justice Department has said its policy was.

They can't have it both ways.

If they didn't have a policy against such operations, perhaps it is not a surprise that an operation like Fast and Furious sprang up.

After all, as that same Justice Department attaché wrote of a meeting a few days after his first email:

"I raised the issue that there is an inherent risk in allowing weapons to pass from the US to Mexico; the possibility of the [Government of Mexico] not seizing the weapons; and the weapons being used to commit a crime in Mexico."

The light bulb went on.   Of course, if you're selling guns illegally, 2,000 of them, then don't interdict them, they end up murdering people in Mexico and one person in the United States at least.

If the Justice Department did have a policy against such operations, this is a record of Mr. Breuer proposing to violate it.

That's not just my conclusion.  That's the Attorney General's conclusion as well.

At last week's hearing, the Attorney General was asked to explain the contradiction between his deputy's anti-gunwalking policy and the evidence of Mr. Breuer's proposed operation to let guns cross the border.

He couldn't.

The Attorney General answered: "Well, clearly what was proposed in, I guess, February by Lanny Breuer was in contravention of the policy that I had the Deputy Attorney General make clear to everybody at Main Justice and to the field..."

Perhaps this disconnect between Justice Department policy and Lanny Breuer's proposal explains Mr. Breuer's previous inaction to stop gunwalking.

When he found out about gunwalking in Operation Wide Receiver in April 2010, he failed to do anything to stop it or hold anyone accountable.  He simply had his deputy inform ATF leadership.

Regardless, Mr. Breuer's contravention of Justice Department policy is yet another reason why it is long past time for him to go.  Mr. Breuer has misled Congress about whether he was aware of the Department's false letter to me.

To this day, he is still the highest-ranking official in ANY administration that we know was aware of gunwalking in any federal program.

Yet he took no actions to stop gunwalking.  He failed to alert the Attorney General or the Inspector General.  Mr. Breuer has failed the Justice Department, and he has failed the American people.  This failure raises some important questions.

When did Attorney General Holder determine that Mr. Breuer was proposing allowing straw purchasers to reach Mexico with trafficked weapons?

What has he done about it?

Will Mr. Breuer be held accountable for hatching a plan to directly violate the Attorney General's anti-gunwalking policy?

The Attorney General clearly testified that the proposal was in "contravention" of the policy.

How does the Justice Department know other senior Criminal Division officials weren't proposing operations similar to Fast and Furious?

These are just a subset of some of the major questions remaining in our investigation of Operation Fast and Furious.

It has now been one year since the Justice Department sent its false letter to me.

How did the Justice Department move from its position of dismissing the complaints of whistleblowers to acknowledging that they were true?

What officials were internally dismissive of the whistleblowers' complaints, and who believed they could have merit and should be taken seriously?

To what extent did Justice Department officials seek to retaliate against whistleblowers?

Exactly how and when did Justice Department officials begin to learn the truth of what happened?

Former ATF Director Ken Melson has testified how and when he learned that guns had walked.

What about Attorney General Holder?

What about Assistant Attorney General Lanny Breuer?

A year after Operation Fast and Furious concluded, who will be held accountable?

Why didn't top Justice Department officials see the clear connections between Fast and Furious and previous flawed operations that they have admitted they knew about?

How has the Justice Department assessed the mistakes and culpability of these top officials?

It's time for the Justice Department to stop stonewalling and start providing answers.

It's time for them to share with Congress the other 74,000 pages of documents they've turned over to the Inspector General.  It's time for them to give us access to the dozens of other people the Inspector General has been allowed to interview.

In short, it's time for them to come clean with the American people.


Quad Cities, USA: Slumberland Furniture in Davenport, Iowa, is working to provide families in need with a comfortable bed in which to sleep at night. Through its annual Making Homes for the Holidays Program, Slumberland donated 26 mattress and box spring sets to The Salvation Army Family Service Center, a facility that provides food and shelter to families that are rebuilding their lives.

Slumberland realizes that a good night's sleep can have a positive impact on the shelter clients' progress in their program. "For far too many families, a warm bed has become a luxury, especially in today's tough economic environment. With Making Homes for the Holidays, Slumberland is working to ensure that everyone in our community gets a good night's sleep," said Lee Kerr, Owner of Slumberland Furniture in Davenport.

In recognizing that there a 52 beds in the Emergency Shelter Program and 48 beds in the Transitional Housing Program, Slumberland has made a commitment to supply beds to the shelter anytime another bed needs disposal.

The Making Homes for the Holidays Program began in 1993. Since then, Slumberland has donated more than 20,000 new mattresses and box springs to deserving families nationwide. For more information about this program, please visit Slumberland's website at www.slumberland.com.

To learn more about the programs at the Family Service Center, please call Brandon Luke or Holly Nomura at 563-324-4808.

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Historian Says U.S. Laws, Attitudes Don't Match Up

As recently as January, the U.S. Supreme Court was debating whether TV networks should be fined for showing a bare body part - in this case, a woman's butt ? on an episode of ABC's "NYPD Blue."

A lawyer arguing for the networks noted enforcement could lead to complaints about the Summer Olympics in Beijing: During the opening ceremonies a statute of a bare-breasted, bare-bottomed woman was plainly visible.

A decision isn't expected until June, but no matter the result, the very fact this is a matter before the highest court in the land troubles historian Mike Foster.

America remains surprisingly prudish, or at least hypocritical, about nudity, says Foster, co-author with his wife, Barbara, of the biography, A Dangerous Woman: The Life, Loves, and Scandals of Adah Isaccs Menken (www.TheGreatBare.com). 

"Officially, we're uptight about nudity," he says, "but happy to watch it in the media. Advertisers use nudity to make a buck, publishers to sell product, and protesters take it off to make a point.

"Lindsay Lohan's nude spread for Playboy earned her a million dollars and was pirated on the Internet. Helen Mirren, at 64, posed topless for a puff promoting 'Love Ranch.' PETA women, who strip in public for attention to animal rights ? 'go naked instead of wearing fur' ? have been joined by their men.

The "ultimate fantasy commercial" for this year's Super Bowl featured a beautiful Colombian model looking stark naked. It was done with paint and 100 million viewers feasted their eyes on a nude illusion.

Foster says our nude hypocrisy stems from the Victorian era, when actress Adah Menken was dubbed "The Great Bare" by writer/admirer Mark Twain. The Civil War-era bombshell singer and actress became famous as The Naked Lady for her starring role in "Mazeppa," a drama in which she rode a stallion up a four-story stage mountain, apparently in the buff. She actually wore a flesh-colored body stocking, but the audience gasped ? yet another nude illusion.

It's mystifying that in Western Europe, the birthplace of many American traditions and values, billboards, TV shows and commercials featuring nudity are commonplace. Nude sunbathers enjoy their nations' beaches ? and don't go home with awkward tan lines.

One hopeful sign that America's easing up: At actress Betty White's televised 90th birthday tribute, Tina Fey claimed the older actress told her: "Never let anyone tell you that you are not good enough to pose nude."

Yes, our favorite "Golden Girl" did it, decades ago. Yet another "dangerous woman" ahead of her time?

About Michael & Barbara Foster

Michael Foster is a historian, novelist and biographer, acclaimed by the New York Times. He earned his Master of Fine Arts from the Iowa Writers' Workshop. "A Dangerous Woman" is his fifth book. Barbara Foster is an associate professor of women's studies at City University of New York.

Jeremy Riedesel Wins First Top Prize Playing on the "Did I Win?" Scratch Game

DES MOINES, Iowa - A Davenport man said when he discovered a $100,000 top prize on his "Did I Win?" instant-scratch ticket, he knew it would change his life.

Jeremy Riedesel, 29, said he was alone around midnight when he scratched the ticket.

"It's definitely life-changing," Riedesel said. "I had to run back inside to the gas station to make sure I was seeing everything right."

Riedesel had scratched the ticket in his car, so the cashier at Kwik Shop, 3624 W. Locust St. in Davenport who sold him the ticket got to share in his excitement as well.

"I just couldn't believe that it was real," Riedesel said. "I was basically in shock."

Since it was late at night, Riedesel said he went home to try to get some sleep before claiming his prize Wednesday at the Iowa Lottery's regional office in Cedar Rapids, but that proved difficult.

"Everybody that I talked to said, 'Oh no, it's fake!'" Riedesel said.

Riedesel said he's looking into investing his money wisely, but doesn't plan to stop working as a Triple A service call responder anytime soon.

Did I Win? is a $10 scratch game. If players find a "yes" symbol, they win the prize shown for that symbol. If they find the "coin" symbol, they win double the prize shown for that symbol. If they find the "gold" symbol, they win all 20 prizes shown. The overall odds of winning a prize in the game are 1 in 3.35.

Riedesel won the first top prize in the game. Seven top prizes of $100,000 are still up for grabs in Did I Win?, along with six prizes of $10,000, more than 260 prizes of $1,000 and thousands of prizes of $500 and $100.

Players can enter eligible non-winning scratch tickets online to earn "Points For Prizes™" points. The point value will be revealed to the player on the website upon successful submission of each eligible valid ticket. There is a limit of 30 ticket entries per day. To participate in Points For Prizes™, a player must register for a free account at ialottery.com. Registration is a one-time process. Merchandise that can be ordered by using points will be listed on the website in the Points For Prizes™ online store. Players can choose from items in categories such as apparel, automotive, jewelry, sporting, tools and more.

Since the lottery's start in 1985, its players have won more than $2.8 billion in prizes while the lottery has raised more than $1.3 billion for the state programs that benefit all Iowans.

Today, lottery proceeds in Iowa have three main purposes: They provide support for veterans, help for a variety of significant projects through the state General Fund, and backing for the Vision Iowa program, which was implemented to create tourism destinations and community attractions in the state and build and repair schools.

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Votes to Hold the Administration and Congress to the Same Standards as Other Americans

Washington, DC - Congressman Bobby Schilling (IL-17) today joined many of his colleagues from both sides of the aisle in supporting the Stop Trading on Congressional Knowledge (STOCK) Act, legislation to ensure that those serving in the federal government cannot profit from participating in and profiting from the nonpublic information they gain from their positions.  Schilling was the first House Republican freshman to cosponsor H.R. 1148, the original House version of the STOCK Act. 

"This bill helps to make clear to folks across the country that my colleagues and I are working to create a new Washington - one where we are cutting our own office budgets, one where we have cut discretionary spending two years in a row for the first time in modern history, one where our benefits are brought in line with those of our constituents, and one in which we are held to the same standards as our constituents," Schilling said.  "Serving in Congress and abiding by the public trust should be an honor, not an opportunity to manipulate the system and prosper.  This common-sense bill increases public disclosure, and will make certain that those who lead our government are abiding by the trust of the folks that sent us here."

The version of the STOCK Act that passed the House today includes text referred to as the 'Pelosi Provision' - language to ensure that Legislative and Executive branch officials and their staff are unable to receive special access to initial public offerings because of their position.  A recent report on "60 Minutes" said that former Speaker of the House Nancy Pelosi (CA-08) and her husband participated in a credit card initial public offering while credit card legislation was pending in Congress.  It also includes H.R. 2162, the Congressional Integrity and Pension Forfeiture Act also known as 'No Pensions for Felons,' written by Congressman Robert Dold (IL-10) and cosponsored by Schilling.  This language would ensure that former Members of Congress - like former Illinois Governor Rod Blagojevich - who are convicted of public corruption crimes are not eligible to receive a taxpayer-funded pension down the line.  Former Congressman and Governor Blagojevich remains eligible to draw a roughly $15,000 annual retirement payment under current law given that his crimes were committed after serving in Congress.  'No Pensions for Felons' would guarantee that criminals like Blagojevich would forfeit their right to collect the taxpayer-funded retirement payments accrued during their tenure in Congress.

"The people who have placed their trust in us to serve in Washington sent us here to represent their interests - not our own," Schilling said.  "I am pleased that these provisions were included.  This is the right thing for us to do to hold those who serve in Congress - both past and present - to the same standards as other Americans."

The STOCK Act passed the House in a vote of 417-2, and now heads to a formal conference committee to work out differences between the Senate-passed and House-passed versions of the bill.

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By: Shay Dawkins

So many people go searching for their true love in nightclubs, singles clubs, through online dating sites and among friends of friends. The truth is, finding true love starts right in your own home - or, more accurately, in your own heart.

Before you can find true love in a relationship, you must find it within yourself.

Here are three simple ways to attain true love for you, yourself, and your life as a whole. You'll be amazed at how quickly romantic love will follow.

• Be thankful for everything (including your mistakes). Learn to be thankful for the good things in your life. That will help you appreciate all the small things and give you a happier, positive outlook (which, by the way, is very attractive.) Be thankful for your mistakes, too. Everything in your life, both the triumphs and the stumbles, shape us as people. Mistakes are valuable learning experiences and, when viewed as such and appreciated, regrets and bitterness of yesterday will fade away. Peace and love will enter in to your life immediately!

• Forgive others so that you can forgive yourself. Forgiving is as much for you as  it is for the person who did you wrong. For starters, when you can forgive others, you can forgive yourself. Some of us are harder on ourselves than anyone else would ever be. We need to be as forgiving of our own faults and misdeeds as we are other people's. Holding onto anger and resentment, whether it's directed at someone else or ourselves, robs us of opportunities for joy. Truly forgive whoever's hurt you - you don't have to like them! - and fully experience happiness.

• Find enjoyment and satisfaction in every day. Strive to find the happiness in your average, workaday life. For most of us, a typical Friday will be a much happier day than a typical Monday, but live each average Monday to its fullest as you would live each fun Friday to the fullest!  If you strive to live in love each day, then you will have no regrets. There are many more average days than holidays and vacations - don't waste them! Find satisfaction in your work, enjoy the process of doing a good job and learning new skills, and every day will be an abundance of joy.

In my book, The Good News: How Revealing Delusions In Christianity Will Bring Peace To All (www.thegoodnewsbook.com), I lay out the numerous biblical instructions to love, forgive and be grateful. If we each apply these simple teachings to our own lives, no matter what our religion, we'll create a happier world.

To both the people with a special someone and those without - be thankful. Love and happiness come from within, not from another person. We all have something to celebrate, not only at Valentine's Day but all year long.

About Shay Dawkins

Shay Dawkins is a Tuscaloosa, Alabama, businessman who grew up in Baptist and Pentecostal churches. His observances about how Christianity can be divisive despite being based on one book led to his analysis of the Bible. Check out his YouTube video, "Why It Should Be About Love, Not Religion."

SPRINGFIELD - February 8, 2012. Lt. Governor Sheila Simon commended state representatives today on their 116-2 passage of House Joint Resolution 29 and urged senators to approve the Constitutional amendment. The resolution amends the section of the Illinois Bill of Rights concerning crime victims.

Currently, the Bill of Rights outlines certain protections for crime victims, but fails to offer any sort remedy if a right is violated. The resolution permits crime victims to ask that their rights be enforced and requires the court to act promptly on such a request. For example, if a hearing is held without the victim being notified by the court, the victim could assert the right to timely notification and ask the hearing be held again. Illinois is the only state in the union that does not provide such a remedy for its crime victims.

"The criminal justice system affords many protections for crime victims, but without proper enforcement, the protections are barely of any use," Simon said. "By adopting this resolution, representatives have brought this critical issue to light and give Illinois residents the opportunity to make these changes to the state Constitution."

The resolution will now move to the Senate. If passed by a 3/5 majority in that chamber, the amendment will be placed on the November 2012 ballot where it will require a 3/5 vote of Illinois citizens to be accepted.

Simon, a former Jackson County prosecutor, founded the domestic violence legal clinic at Southern Illinois University School of Law in Carbondale.

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Iowa Supreme Court to Hear Oral Arguments in Council Bluffs

Des Moines, February 8, 2012? On March 7, the Iowa Supreme Court will hear oral arguments in Council Bluffs. The proceeding will take place in the Arts Center at Iowa Western Community College, 2700 College Road. The session will begin at 7 p.m.

The court will hear lawyers argue in two cases:

Mall Real Estate v. City of Hamburg

Plaintiff, Mall Real Estate, asked the Iowa District Court for Fremont County to declare that the City of Hamburg's "sexually-oriented business" ordinance either did not apply to plaintiff's business or that it was an unconstitutional regulation and could not be enforced against plaintiff's business. The district court found the ordinance did apply to plaintiff's business and that it was a constitutional regulation. Plaintiff appeals the district court determination.

The lawyers for Mall Real Estate are: Brian B. Vakulskas and Daniel P. Vakulskas, Sioux City, and W. Andrew McCullough, Utah. The lawyer for the City of Hamburg is Raymond R. Aranza, Cedar Rapids.

American Civil Liberties Union v. Atlantic School District

Petitioner, the American Civil Liberties Union (ACLU), seeks additional information regarding discipline imposed on two school district employees after a "locker room strip search" of five female students. The Atlantic School District claims Iowa law does not require public disclosure of such job performance documents. The ACLU argues the Iowa Court of Appeals incorrectly interpreted a recent legislative amendment that should have permitted disclosure of the disciplinary action.

The lawyer for the American Civil Liberties Union is: Randall C. Wilson, Des Moines. The lawyers for the Atlantic Community School District are: Brett S. Nitzschke, and Emily K. Ellingson, Cedar Rapids.

"The Court looks forward to visiting Council Bluffs and appreciates the hospitality of Iowa Western Community College," Chief Justice Mark Cady said. "We received tremendous response from the three communities we traveled to last year. There was a great community turnout in each city and the people saw a court in action and how we work to resolve very complex issues. This is an opportunity for Iowans to see firsthand how legal matters that involve important issues can arise in the lives of Iowans and how the justice system and the rule of law operate to settle disputes and ensure the rights of all Iowans are fairly and impartially protected."

 

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Sen. Chuck Grassley of Iowa today made the following comment on the House Republicans' version of a bill to ban insider trading by lawmakers that removes a Grassley-added provision to require political-intelligence practitioners to disclose their activities for the first time and make them adhere to the same registration requirements of lobbyists.  The growing industry collects information that it sells to Wall Street, which uses the information to make money.  The House legislation replaces Grassley's disclosure requirements with a study of the industry.  Grassley's provision passed the Senate 60 to 39.

"It's astonishing and extremely disappointing that the House would fulfill Wall Street's wishes by killing this provision.   The Senate clearly voted to try to shed light on an industry that's behind the scenes.  If the Senate language is too broad, as opponents say, why not propose a solution instead of scrapping the provision altogether?   I hope to see a vehicle for meaningful transparency through a House-Senate conference or other means.   If Congress delays action, the political intelligence industry will stay in the shadows, just the way Wall Street likes it."

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