House Republican under investigation for insider trading

Discussion in 'Politics' started by Chris, Feb 11, 2012.

  1. Chris
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    Chris Gold Member

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    Washington (CNN) -- Rep. Spencer Bachus, chairman of the House Financial Services Committee, acknowledged Friday that he is under investigation for possible violations of insider trading laws, but insisted he will be cleared.

    "I welcome the opportunity to set the record straight. I respect the congressional ethics process. I have fully abided by the rules governing members of Congress and look forward to the full exoneration this process will provide," Bachus said in a written statement provided to CNN.

    According to a Washington Post report published Thursday evening, the Office of Congressional Ethics -- an independent entity that screens allegations of misconduct by members of Congress and their staff -- notified Bachus that it is reviewing his financial transactions because it believes he may have engaged in insider trading.

    The Post reported that the office initiated the investigation last year after it began "focusing on numerous suspicious" stock trades on Bachus' annual financial disclosure forms.

    The article cites sources it says are familiar with the probe who say the investigation centers on allegations that the Alabama Republican ran afoul of Securities Exchange Commission laws that bar individuals from engaging in financial transactions based on "material, non public" information.

    House Republican insists he'll be cleared in insider trading probe - CNN.com
     
  2. editec
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    editec Mr. Forgot-it-All

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    Pretty hard to comment on this other than to say if the guy is guilty I hope they burn him.

    And if he isn't guilty I'd like to read retractions printed in every media outlet that covered the "RUMORS"
     
  3. Harry Dresden
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    Harry Dresden Latinum, Plantinum,Silver,Gold Member Supporting Member

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    i would like to know if Chris would have posted this if the guy was a Democrat.....
     
  4. Conservative
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    Conservative Type 40

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    In his mind, a Democrat is above this type of behavior, so it could never happen.
     
  5. Mr. Shaman
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    Mr. Shaman Senior Member

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    You want a Dem?


     
  6. Truthmatters
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    Truthmatters BANNED

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    The right doesnt care its what they promote
     
  7. Mr. Shaman
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    Mr. Shaman Senior Member

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    Not to worry.

    The MSM is......

     
    Last edited: Feb 16, 2012
  8. GuyPinestra
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    GuyPinestra Senior Member

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    I think that bitch in your avatar is smarter than you...
     
  9. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    So why exactly is only Bachus instead of countless on both Republican and Democrat side who are engaging in it? Including Ms Pelosi.
     

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