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That part of the title is word for word taken from ABC News.
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Which shows that they lean exactly the way you do which is left/Far left... This is NOT a partisan issue so my question is, "given the only time you create a thread it's strictly hyper-partisan and one sided are you paid per post by Soros or one of his entities?"
Maybe direct from the DNC?
IF he's convicted of insider trading then good, crooks should be removed from congress and treated just as you or I if we did the same thing. I do wonder when they're going after all the others who've been taking advantage of insider trading for decades.
Quote:
Congress insiders: Above the law?
The same insider trading that can land a regular citizen in jail is perfectly legal for members of Congress
Martha Stewart went to jail for it. Hedge fund honcho Raj Rajaratnam was fined $92 million and will go to jail for years for it. But members of Congress can do the same thing -use non-public information to make stock trades -- and there's no law against it. Steve Kroft reports on how America's lawmakers can legally make tidy profits on information only they know, simply because they won't pass a law against themselves.
Among the revelations in Kroft's report:
* Members of Congress have bought stock in companies while laws that could affect those companies were being debated in the House or Senate.
* At least one representative made significant stock purchases the day after he and other members of Congress attended a secret meeting in September 2008, where the Fed chair and the treasury secretary informed them of the imminent global economic meltdown. The meeting was so confidential that cell phones and other digital devices were confiscated before it began.
If senators and representatives are using non-public information to win in the market, it's all legal says Peter Schweizer, who works for the Hoover Institute, a conservative think tank. He has been examining these issues for some time and has written about them in a book, "Throw them All Out." "[Insider trading laws] apply to corporate executives, to Americans...If you are a member of Congress, those laws are deemed not to apply," he tells Kroft. "It's really the way the rules have been defined...[lawmakers]have conveniently written them in such a way as they don't apply to themselves," says Schweizer.
In a little-noticed brief filed last summer, lawyers for the House of Representatives claimed that an SEC investigation of congressional insider trading should be blocked on principle, because lawmakers and their staff are constitutionally protected from such inquiries given the nature of their work.
In 2012, members of Congress patted themselves on the back for passing the STOCK Act, a bill meant to curb insider trading for lawmakers and their staff. “We all know that Washington is broken and today members of both parties took a big step forward to fix it,” said Rep. Bill Johnson, R-Ohio, upon passage of the law.
But as the Securities and Exchange Commission made news with the first major investigation of political insider trading, Congress moved to block the inquiry.
The SEC investigation focused on how Brian Sutter, then a staffer for the House Ways and Means Committee, allegedly passed along information about an upcoming Medicare decision to a lobbyist, who then shared the tip with other firms. Leading hedge funds used the insider tip to trade on health insurance stocks that were affected by the soon-to-be announced Medicare decision.
It’s legal for Congress Critters to serve on boards of publicly- traded companies so long as they are uncompensated and disclose. Board members often have access to inside information before the public.
Last edited by middle-aged mom; 08-09-2018 at 08:16 AM..
Can you please state her crimes? Has she been arraigned on any charges?
You actually just proved the point that Dems get a pass. She was cleared of charges by her cronies, and she and her husband, who raked in millions thanks to her, got to carry on.
Let's at least be fair and bipartisan on this subject.
Why Congressional Insider Trading Is Legal - and Profitable
Quote:
We Americans pride ourselves on building a system of government where no one is above the law - not even the lawmakers themselves.
Except... well, sometimes they kind of are. As this week’s chart shows, congressmen have historically done a lot better in the stock market than the average American household has. This suspicious outperformance is made possible by the widespread and technically legal practice of congressional insider trading.
As our Chief Income Strategist Marc Lichtenfeld wrote a few years ago...
I have a foolproof way of getting rich. It doesn't involve signing up for one of The Oxford Club's services, and it doesn't require much risk because you already know the outcome. In fact, you'll help decide it. All you have to do to increase your net worth by 10-fold is get elected to Congress.
It’s easy to understand how our representatives and senators obtain valuable financial information. Congress makes decisions about economic policy, foreign relations, tax reform and other matters that directly affect the bottom lines of publicly traded companies.
But there are more interesting questions to be asked about this seedy phenomenon. How does Congress get away with insider trading? And how can you take advantage of this lucrative legal gray area?
Why Isn’t Congressional Insider Trading Illegal?
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By the letter of the law, it is. In 2012, President Obama signed the Stop Trading on Congressional Knowledge (STOCK) Act.
This law sought to crack down on white-collar crime in Washington. Among other provisions, it instituted strict disclosure requirements for congressmen who were buying and selling securities.
At first, the law worked like a charm. The number of stock transactions made by congressmen plunged more than 50% from 2011 to 2012. Those who kept trading had to post their trades to a searchable online database.
But then, just a year after the STOCK Act was passed, Congress amended it in a quick procedural vote. Surprise, surprise - it got rid of the online disclosure requirement.
Today, in order to see the inner workings of your representative’s portfolio, you have to go down to the basement of the Cannon House Office Building in Washington, D.C., and ask for a printed file.
Technically, that file in a damp D.C. basement still constitutes a public disclosure. Thus, your congressman’s market-beating transactions are technically not insider trading.
You actually just proved the point that Dems get a pass. She was cleared of charges by her cronies, and she and her husband, who raked in millions thanks to her, got to carry on.
lol,lol,lol,lol 18 months later still can't come up with anything better than "BUT HILLARY"
That part of the title is word for word taken from ABC News.
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doesn't make any difference, it is still incorrect. That does not mean he is or is not guilty, nor does it have anything really to do with which party he is affiliated with, the title is still incorrect. YOu do live in America don't you where we are innocent until proven guilty?.
It depends on when she bought the house, doesn't it? My uncle is living in a house worth millions, but when he bought it several decades ago, it was just a house that a middle class could afford.
I don't know if Waters has a house in Los Angeles or DC, but those are two cities where real estate prices kept going up and up. There are houses in those cities that nobody wanted back then that would go for millions today.
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Waters, who sat on the Financial Services Committee, helped a bank in which her husband owned stock secure federal bailout funds. Stock that would have been worthless if the bank had failed.
doesn't make any difference, it is still incorrect. That does not mean he is or is not guilty, nor does it have anything really to do with which party he is affiliated with, the title is still incorrect. YOu do live in America don't you where we are innocent until proven guilty?.
Nope, not if there's an "R" behind your name or you support the "wrong person" politically. TDS and the MSM have seen to that...
Trump supporters will be fine with insider trading if Trump says its okay.
I'm a Trump supporter, and this is not OK.
I'm hoping for the day that citizens realize that it's not left versus right, but rather elites versus the average citizen.
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This is NOT a partisan issue so my question is, "given the only time you create a thread it's strictly hyper-partisan and one sided are you paid per post by Soros or one of his entities?" 
