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This is no new revelation and has been discussed in the forum before. There was a list of about 15 reps that had big returns right after the crash when most were losing their shirts. Like the vid showed they had that meeting with Paulson/Geithner. Right now our leaders are investing heavy in News organizations :
Quote:
At least seven congressmen have media investments worth a minimum of $100,000, and Sen. John Kerry (D-Mass.) leads the pack with his family's multi-million-dollar holdings in multiple media companies, including a significant investment in News Corp., which owns Fox News.
Even the Weiner was involved :
Quote:
Weiner owns New York Times' assets valued between $1,001 and $15,000, according to his 2009 personal financial disclosure report, the most recent available. (Members are only required to list the value of their assets in broad ranges.) The Times has been reporting on the congressman's scandal with multiple stories and blog posts each day.
Many members of Congress and editorial boards of news organizations have also asked Weiner to step down.
In congress is the place to be to fatten your portfolio :
[quote]An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representatives outperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios.
Quote:
“We find strong evidence that members of the House have some type of non-public information which they use for personal gain,” according to four academics who authored the study, “Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives.”
Why are the private investments of members of congress not in blind trusts like what is required of the President of the United States? If they want to treat this as full-time work, then they should not be able to direct their private investments.
There are as many ways to bribe as there are corrupt politicians. I must admit exempting yourself from corrupt trading practices is a stroke of genius. Whatever happened to the old way of just walking out of a meeting with business reps or your local mob boss with a bag of cash? I guess they use internet transfers through a bank in Barbados.
No elected or appointed official of the State of Texas nor any member of their families can receive an economic benefit from anyone they have jurisdiction over. Used to be the law in Texas. They changed it to no official can ask for an economic benefit.
Adopt the original wording, apply it to US government employees and there would never be a need for term limits.
She said it was not true. Not that I care. I saw that 60 minutes piece and most of the insiders were republican. The weird part was the fact that the insider laws do not apply to lawmakers. Bohner invested heavily on some insider deals as well, and apparently so do all lawmakers and there is no laws against it. Must be nice to be lawmaker, so you can write laws to make you rich.
One way to fix congress is to make sure all laws that apply to us applies to congress as well as health care and benefits
This is a great thread. Nice spotlight on an important issue. I wish, beyond wish, that this doesn't turn into a "your guys are worse than our guys" bash fest though. Seriously, does anyone with two brain cells to fire together really think that it's only the Democrats (or Republicans) who are doing this? This is more graft from both parties -- as another poster said, fresh evidence these clowns are not working for us. It's abundantly clear by now who they're working for, isn't it?
OWS and the Tea Party -- elements of both are getting at the same tumor -- and elements of both are just putting on a stupid sideshow partisan circus. Anyone who thinks that this is "all Obama's fault" and that if whatever Republican du jour is elected this will all go away is a clown and dupe -- just like those who thought that electing Obama would change America in fundamental ways are clowns and dupes.
If you're truly tired of being punked, and you truly want to leave an America for your kids in better shape, with more opportunity and more access to those opportunities, you need to quit buying into the great "R" vs. "D" psuedo football rivalary and start focusing on the frauds and crooks .. you'll find them in both parties, working with their fraudelent crook buddies on Wall Street.
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