Insider trading in our government... were suckers

Discussion in 'Politics' started by Rambunctious, Nov 14, 2011.

  1. Rambunctious
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    Rambunctious Gold Member

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    [ame=http://www.youtube.com/watch?v=bWV_nwpRG9c&feature=player_embedded]Rick Perry on Congressional Insider Trading - YouTube[/ame]
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Write yer Congressman - tell him ya want some o' dat insider trading information so's you can get rich too...
    :cool:
    57 members of Congress among wealthy 1%
    15 Nov.`11 - Fifty-seven members, or roughly 11%, of Congress can count themselves among the top 1% of wealth, with an estimated net worth of $9 million, according to a USA TODAY analysis of personal financial disclosures compiled by the Center for Responsive Politics.
     
  3. BDBoop
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    BDBoop BANNED

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    Bill filed to prohibit congressional insider trading - CNN.com

     
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  4. Meister
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    Meister VIP Member Supporting Member

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    This goes on with both parties...it's the old "Pay to Play" adage.


    After picking through her disclosure forms, it looks a lot less likely that Pelosi was looking for a quick payday. What’s still unresolved, however, are ethical questions about buying and selling shares of companies that will be heavily impacted by legislation before Congress.

    Pelosi is implicitly charged with getting improper treatment from Visa during their 2008 IPO, then the largest of all time. The following is Sunday's "60 Minutes’ "lead in to the segment on Pelosi. The speaker is Peter Schweizer, whose investigation into stock trading on Capitol Hill is featured in the "60 Minutes" report:

    "If you were a senator, Steve, and I gave you $10,000 cash, one or both of us is probably gonna go to jail. But if I’m a corporate executive and you’re a senator, and I give you IPO shares in stock and over the course of one day that stock nets you $100,000, that’s completely legal."
    Did Nancy Pelosi profit from Visa stock purchases? - CSMonitor.com
     
  5. Meister
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    Meister VIP Member Supporting Member

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    It's terrible when the the right and left agree on something. It makes for a bad thread. :lol:
     
  6. uscitizen
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    uscitizen Senior Member

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    and means it does not have a chance of passing in congress.
    Unless it looks good but has a loophole or three to allow the congressional insider trading to continue.
     
  7. Mr Clean
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    Mr Clean Gold Member

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    Fat chance of congress passing that law, Rick.
     
  8. BDBoop
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    Just another reason to toss them all if they don't pass it.
     
  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    To be really honest..I was flatfooted and shocked by this. Having worked in the financial industry..and having had regulators up my ass about everything..I am seriously amazed nothing like that covers congress.

    :eek:
     

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