The other shoe - Ban on Insider Trading Faces G.O.P. Revisions.

[Sallow]

I couldn't believe this even after I found out about it..

WASHINGTON — Lobbyists were in a tizzy on Tuesday over provisions of a Senate-passed ethics bill that tighten regulation of lobbying and require secretive “political intelligence” firms to register in the same way as lobbyists.

House Republicans and their floor leader, Representative Eric Cantor of Virginia, said they would amend the bill, going to the House floor this week, to strengthen it.

But Representative Louise M. Slaughter, Democrat of New York, said, “I think ‘strengthening’ here is a euphemism for ‘weakening.’ ”
http://www.nytimes.com/2012/02/08/u...by-congress-faces-gop-revisions-in-house.html

"Political Intelligence" it turns out is insider information congressional staff insiders gather to "sell" to Hedge fund managers. It's about 500 million dollar a year unregulated "industry".

It should be fucking illegal!

 

[Sallow]

Personally..I find this whole mess extremely hard to believe. It's a huge crime outside of congress. When I worked for the financial industry..I had to disclose everything I traded..and I couldn't trade my company's stock when it went public.

This really stinks.