Scott Brown tells Tom and Todd about his recently passed insider trading bill
Feb 3, 2012|
Senator Brown calls into Tom and Todd to talk about his recently passed Insider Trading bill.
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
-- the constitution suggests for our country. So that's what makes that I mean that's really the full line of conversations Scott Brown joins is now the senate -- From Massachusetts and an amazing. Ten or eleven days Scott from the tiny corner the president and intimidated him and got him to call Harry Reid say -- we'd get that thing -- Scots on my case. Bottom line is we got something passed in record time when I saw the sixty ministries while the while the bill. -- immediate hearing had little more than fifteen b.s we have there's actual hearing. The committee within a couple of weeks and that was languishing on Harry -- desk and just by happenstance when the president was talking about these things they said you know. I -- they talked about the step of that so we seem to do it starts so he's watching -- and Mr. President by the way. My insider trading bill Israeli go to Harry -- desk and he said. And I said gonna get it out and the reason is that right -- that well I'll probably get it out. And I followed up with a letter the leader and also let the president and I I really think if he wasn't Mike. And it didn't go basically go and -- viral. It would've would've happened but it. He worked and it's always thank you would have happened if if we hadn't had an idea yeah yeah yeah I got the feeling when he the way he was responding to you. That he was really saying -- Fat chance. No no no he received a serious he he he felt pretty you know he did release said he looked at Hawaii saying it would happen that's the -- because if it's not like it -- let them make up then people wouldn't have known about it than they felt that -- probably couldn't do I gotta have more to tell clients are able to get it done. And yesterday believe it or -- was the first time since I think I've been there that we had a fair and open amendment process. Where everybody can have their issues that it whether it be germane or relevant or not and you know I commend the leader for allowing that to happen because senator Lieberman and Collins and I were basically managing for for the last four days. Working you know getting them in somehow combining others feel it making sure that was -- really full and fair and open process in the past 96 to. -- let me just challenge don't want other -- -- description of the story you said you happen to catch the president the war EU. Standing there on purpose determined. To get him to leverage him to do what he did he get this bill. Well actually I was in I was a little further read and everything all the people I was sitting with we're going out. And I eleven saved by the president Menem was standing there as everybody does to say good -- And -- -- -- -- I said to myself wow you know I agree with them on this thing I have a bill Israeli go it just sitting on Harry -- -- -- so Sarin dip but this opportunity -- -- really -- that Scott two things Harry Reid did he say anything to you over these last few days to do have a conversation our exchange with him. And tell us about the three senators who voted off is there a common theme to their resistant camera. -- why -- -- -- I didn't even know until till the very -- that they in fact did yeah while they agreed with the with the overall bill -- -- certain provisions they say they didn't like apparently side I can have to defer to them but at the end of the leader came up to me it's a good job. And there was a there was really sort of a very positive process. And that we were able to. Fully and fairly vet each and every agent every person's concerns. And it would then as a good bill and I think it came out as a very good. Also better -- how about speaker Boehner any conversations with him miss to the -- million -- -- I know in the house. No we had a cup press conference after a nice challenge the -- to bring it up in and that make any improvements. Get it to conference must get into the president's desk by the end of this month. Won't be clever stay attached keystone. Well you know it's not relevant really to and in the bottom line is that people looking for a stiff. Rheostat reestablish some form of trust with them and this site and goes a long way in saying yes we can. Do something an -- in full and open manner process and we can. Look at look at ourselves and self police themselves like hasn't been done in decades. And could put the Keystone Pipeline on that I think it would be disingenuous and I would recommend it obviously. So this measure the stock acted do you feel that it's a first legislative response or do you feel like it takes care of the problem. Of insider trading and I think. At this cure the problem. Insider trading based on everything we've been working with the with the SEC and and the ethics folks we actually expanded to include. Members of the executive branch as well which some of them were exempt. And not only filing by disclosing and it basically prohibits for those of you without listening who don't know what it means. Is that there is a sixty minutes piece where there was allegations that people were using a privilege nonpublic information. For personal gain and we're trading on it. Whether through stocks or other types of futures -- you know betting against a -- certain things to happen. And that's illegal in any other venue except in the United States congress and so like I saw that these via. You're sure it's gonna shocked by it actually and was able to. Make sure that anybody in congress who gets. And the insider information. That there would be nonpublic privileged information. Could not. Straight on and what. Some mechanism he uses to do that does it say that if -- senior committee can't trade that stock -- There there there are they're obviously disclosures disclosing it is is obviously very important part of -- them quicker disclosures usually it's a year. It just so the bottom line is that you cannot do what you can't use. Privilege nonpublic information the key is. Nonpublic information something that that the average person would not be able to use to trade. You know stop signs or other types of information. Whether can be real estate it could be other types of you know a special sweetheart deals is that really the -- So when you're talking the president and he was walked away from you -- say -- -- your daughter. And is it true that he also mumbled say how to Fenner informing. -- can put put put put. I guess not you wanna sing any Al Green forest before it that I have to remind him not matter clearly in the or there's that there is a front page story that's today that seems rather silly in the globe but I I guess we should ask you about it anyway that says. New York campaign. Paid your daughters band to play your hands is there any reaction you have to that. Well their bottom line is of course said that she's it was on American Idol soon have 34 million people she's an amazing drug. And we we -- effort for a campaign events and paid fair market value as we were. Instructed to do because it's it's far more impractical to sort -- any individual band members. Small -- of compensation and and actually ask the band members to donate their professional services. To the lead singer and anybody who knows. About a band in your -- and the sound management and -- managers that's sort of things so. Yeah I was it was great achievement of the compelling reasons realism of these amazing. Events and you know she's a professional. And -- And she does a great job hey I gotta ask is Scott forget all this insider traders that the something bigger going on Super Bowl what's gonna happen. Well listen I. I have so many beer -- going on with members of congress and other types of that group you know there -- you -- our favorite case severe vs your favorite it's -- -- but. Rudy Giuliani and I have a nice bit where you know obviously the dinners that important special centers and the -- the the additional kind of injury or insult to the fact that. And the spring we'll have to go to either Red Sox or yankees game and sit in the stands with -- each other wearing the. All -- like that that's not that's how god that's our goods that Wheeler dealer at a steakhouse by the way if you win the bad for a New York restaurant that he's gonna by people who do steakhouse -- great son Adam Scott I assume you're gonna be winning way to many -- field -- the prizes -- I'm gonna Savannah and donating them yet. I don't realize is that relative to par and. All right well listen -- I'm excited about the patriots -- you know obviously is that they bring great pride them in the Kraft family. And to our tourist -- into the region and you know I wish them well obviously that is on to win out here it's tight one point 530. -- got in a little while I'm going to be outlining my proposed halftime show it will not involved Madonna yeah I always hear -- -- -- on and it will involve some than that would make you very proud as an America I know I don't know I know it could be daylight could be a good idea not athletic event he had not said that's that's a -- like it go you know. I think one of the best things they would it is she was able to go to to Pakistan Afghanistan and for our troops. And is really love the most rewarding as she travels all over the world really doing her thing and it's it's been I've been very proud -- -- like your your daughter and granddaughter this here at royal. He's more proud of the grandkids. Well I -- we are you have you watched the games -- I'm probably gonna get a couple local apart in the in the Bay Area than going over everybody ocean and watch it there after halftime after the show was over a sounds good thank you sir for calling -- -- -- -- -- -- good job -- got on the inside that you have to reserve chairman of the world you're saying it's good for the American people thank you. -- -- -- -- -- So -- opera that's a big win for Scott Brown you know what's happened because I I I actually think Elizabeth Vargas pretty pretty nimble. Chill chill offer her congratulations maybe even do a press -- commanding info it's really a job well done -- -- it's the only it's really the only way to have talked to thrive in politics when you -- how to do it just show you when your opponent does have that well it's like you know the guy hits the home run I don't I -- -- -- -- -- -- -- -- which is gonna -- -- God bless yeah you've got your legislation passed -- remember god it's your four day. In the building that we've built for you it using the electronic voting device that -- let others pay for.