Jarhead
Gold Member
- Jan 11, 2010
- 20,670
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they don't have immunity.
they are allowed to exploit a loophole if they are unethical bastards.
I believe I heard they are immune to the laws that govern insider trading.
What loophole are you referring to?
US Congressional Ethics Rules on Insider Trading - Insider Trading by Congress - ProCon.org
that is the problem with code of conducts which are not legally binding.Under current insider trading law, it is unclear whether government officials trading securities based on material, nonpublic government information are liable for insider trading. The executive branch has established laws [i.e. Executive Order 12674] with criminal or civil penalties against the use of nonpublic information gained on the job for personal financial gain.
The legislative and federal judiciary branches, however, have codes of conduct (from hereon categorized as "rules, which are not legally binding) or no rules at all addressing the use of material, nonpublic legislative or judicial information for personal financial gain.
they will be exploited.
Interesting.
Thanks.