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Boston marathond bombing. Patenting human genes. STOCK Act.

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Due Diligence

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Part 1: Boston Marathon Bombing

We will get word from Boston to get an update on multiple explosions near the marathon killing at least 2 and injuring dozens others.

Part 2: Supreme Court hears case asking whether human genes are patentable

This morning the Supreme Court heard arguments in AMP v. Myriad in which they are being asked if a coproration can patent a human gene they extracted. The case wll likely have huge significance regarding future research into human DNA and the pursuit of cures.

 

Part 3:  Congress Repeals Major Tenets of STOCK Act on Congressional Insider Trading

Although politicos everywhere are talking about  immigration and gun control legislation this week, little is being said about one piece of legislation that was quietly passed by both houses at the end of last week and signed by President Obama only hours ago. the legislation repeals some crucial parts of a year old law, known as the Stop Trading on Congressional Knowledge Act, or “STOCK” (S. 716), which required everyone from the president, down to congressional staffers, to disclose and post records of their investments online.

Passed and signed by President Obama one year ago in order to restore public trust in the federal government and prevent insider trading, some elements faced opposition from those claiming that such disclosures are dangerous to high end political staffers.

Today, part of the act was walked back to exclude staff level employees from the disclosure requirement. The changes do not include Senators, representatives, and executive staff.

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