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I'm all for cleaning out Washington. I don't care which political party is involved. Empty the sewer. We'll start over.
There was at one point a thread hear on City-Data and the thread dealt with what would the response be or how would people react if Washington DC was Nuked.
And the overwhelming response was OH well, I guess we would need some more politicians.
That more than sums up how I feel about Washington DC.
up until recently inside trading by congress was legal
"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"
in 2012- 'A year ago, President Obama signed the STOCK ACT into law at a celebratory ceremony attended by a bipartisan cast of lawmakers.'
'How Congress Quietly Overhauled Its Insider-Trading Law"..... in 30 seconds on a Friday afternoon.
suddenly the outrage!!!!! the practice had been going on for decades and doing what CC did was perfectly fine.
I hate insider traders. This looks so bad. As for me, I took a $1,800 hit on Wells Fargo stock. My wife is a corporate attorney who (along with the DOJ) knew about the investigation and probable systemic issues with Wells Fargo's misdeeds. Still, she couldn't and didn't tell me anything when I bought WFC. 9 months later, it all became public information, I sold the stock for a short-term loss, and she told me that she knew about it but couldn't say anything. I still have my positions in C and BAC, but that WFC trade really hurt.
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Lock him up.
