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Old 04-30-2013, 01:58 AM
Location: in a galaxy far far away
19,105 posts, read 16,484,098 times
Reputation: 33120


Those scoundrels in Washington are at it again and it seems 60 Minutes is the only media service reporting it. On Sunday, April 28th, Steve Kroft did a follow-up to a story aired in 2011 on insider trading within Washington DC.

Members of Congress and top government officials were exempt from insider trading laws that applied to everyone else. They could profit from investments made using confidential information they gathered during the course of their official duties; something Peter Schweizer, from the Hoover Institution, said could send ordinary citizens to prison.

Congress was shamed into passing the Stock Act. It banned insider trading and ordered online disclosure of officials' investments. But, earlier this month, Congress quietly repealed parts of that law, ending public scrutiny of the investments by 28K governments employees and congressional staff members.

Should Congress get a pass on insider trading laws? And if it's right, shouldn't regular investors be able to profit the same way without fear of retribution?

If you'd like to see the Stock Act reinstated, you can sign the petition at We the People website.

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Old 04-30-2013, 02:53 AM
Location: Too far from home.
8,732 posts, read 6,753,797 times
Reputation: 2374
Congress helps to make the laws thand selectively apply them to everyone else but themselves. That's how it works when you think you are above the law. Another example is that the are exempt from Obamacare. It appears it's good enough for the common man, but not good enough for Congress.

If I could do it all over, after completing college I would then dummy down and work towards a career that would put me on the receiving end of Congressional benefits. To think that they get lifetime benefits for being educated idiots and destroying the country.
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