GOP Congressman Reportedly Faces Insider-Trading Investigation

[Lakhota]

By Scott Higham and Dan Keating

The Office of Congressional Ethics is investigating the chairman of the House Financial Services Committee over possible violations of insider-trading laws, according to individuals familiar with the case.

Rep. Spencer Bachus (R-Ala.), who holds one of the most influential positions in the House, has been a frequent trader on Capitol Hill, buying stock options while overseeing the nation’s banking and financial services industries.

The Office of Congressional Ethics, an independent investigative agency, opened its probe late last year after focusing on numerous suspicious trades on Bachus’s annual financial disclosure forms, the individuals said. OCE investigators have notified Bachus that he is under investigation and that they have found probable cause to believe insider-trading violations have occurred.

The case is the first of its kind involving a member of Congress. It comes at a time of intense public scrutiny of congressional ethics, with the House passing legislation Thursday to tighten rules against insider trading by lawmakers. The impetus for the legislation, a version of which passed in the Senate a week earlier, came from a “60 Minutes” report and a book mentioning Bachus’s trades, “Throw Them All Out,” by Peter Schweizer.

More: Rep. Bachus faces insider-trading investigation - The Washington Post

 

[Lakhota]

[ame=http://www.youtube.com/watch?v=YTAKktjpxmY&feature=player_detailpage]Obama asks for bill to end insider trading in Congress - YouTube[/ame]

 

[Lakhota]

Eric Cantor is disgusting and worthless!

Watered-Down Insider Trading Bill Set to Pass House - Eric Cantor takes out provisions that Senate passed unanimously

Scaled-back ethics measure moves toward approval in House - The Washington Post

 

[zonly1]

How about Nancy Pelocy and Harry Reid etc.?

 

[Stephanie]

All these Congresscritters from BOTH parties proved to be involved in this should be FIRED.

Starting with Pelsoi

 

[editec]

WOW!

Given all the advantages our Congressfolks get anyway, one has to be a grasping materialist to bother cheating in a system that is designed for your benefit anyway.

If he's guilty?

He and his co-conspirators ought to be hung on the steps of Congress

 

[mudwhistle]

By Scott Higham and Dan Keating

The Office of Congressional Ethics is investigating the chairman of the House Financial Services Committee over possible violations of insider-trading laws, according to individuals familiar with the case.

Rep. Spencer Bachus (R-Ala.), who holds one of the most influential positions in the House, has been a frequent trader on Capitol Hill, buying stock options while overseeing the nation’s banking and financial services industries.

The Office of Congressional Ethics, an independent investigative agency, opened its probe late last year after focusing on numerous suspicious trades on Bachus’s annual financial disclosure forms, the individuals said. OCE investigators have notified Bachus that he is under investigation and that they have found probable cause to believe insider-trading violations have occurred.

The case is the first of its kind involving a member of Congress. It comes at a time of intense public scrutiny of congressional ethics, with the House passing legislation Thursday to tighten rules against insider trading by lawmakers. The impetus for the legislation, a version of which passed in the Senate a week earlier, came from a “60 Minutes” report and a book mentioning Bachus’s trades, “Throw Them All Out,” by Peter Schweizer.

More: Rep. Bachus faces insider-trading investigation - The Washington Post

Of course they're investigating a Republican. The Administration needs ammunition.

Turns out this is common practice in Washington. That's why they've exempted themselves from prosecution. Nancy Pelosi was caught taking bribes to pass the Affordable Health Care Act, but nothing will be done about it. She's not a Republican.

 

[del]

i'm shocked to my very core




really

 

[Claudette]

Yeah. Me to.





Really.

 

[Stephanie]

I'm shocked the troll posted this and not one thing about any Democrats.

oh well..

 

[Quantum Windbag]

By Scott Higham and Dan Keating

The Office of Congressional Ethics is investigating the chairman of the House Financial Services Committee over possible violations of insider-trading laws, according to individuals familiar with the case.

Rep. Spencer Bachus (R-Ala.), who holds one of the most influential positions in the House, has been a frequent trader on Capitol Hill, buying stock options while overseeing the nation’s banking and financial services industries.

The Office of Congressional Ethics, an independent investigative agency, opened its probe late last year after focusing on numerous suspicious trades on Bachus’s annual financial disclosure forms, the individuals said. OCE investigators have notified Bachus that he is under investigation and that they have found probable cause to believe insider-trading violations have occurred.

The case is the first of its kind involving a member of Congress. It comes at a time of intense public scrutiny of congressional ethics, with the House passing legislation Thursday to tighten rules against insider trading by lawmakers. The impetus for the legislation, a version of which passed in the Senate a week earlier, came from a “60 Minutes” report and a book mentioning Bachus’s trades, “Throw Them All Out,” by Peter Schweizer.

More: Rep. Bachus faces insider-trading investigation - The Washington Post

It's a start.