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Insider Trading in Congress

October 12, 2010

Another example of the complete lack of ethics of our scions of morality.

Rep. Brian Baird (D., Wash.) and a handful of other lawmakers including Rep. Louise Slaughter (D., N.Y.) have for years supported legislation that would explicitly make it illegal for members and their aides to trade stocks and other securities based on non-public information gleaned from the legislative process. Mr. Baird, however, retires at the end of this year.

When the bill—the Stop Trading on Congressional Knowledge Act, or Stock Act—was introduced nearly five years ago, just 14 other lawmakers endorsed it.

Here is a telling quote from the Wall Street Journal Article about, who else, Nancy Pelosi:

Some legislators remain undecided about supporting the legislation. That includes House Speaker Nancy Pelosi of California. The Journal reported Monday that a top aide to Ms. Pelosi profited by the trading of shares of Freddie Mac and Fannie Mae in a brokerage account with her husband two days before the government authorized emergency funding for the companies.

The aide said she had no knowledge of the trades when they were made, and the husband said he bought the stock after reading a news article.

Despite how this government is trying to convince America there is a class war going on between rich and poor, we really need to recognize the true villains, our own freaking government.  These people live in their dachas and treat the proletariat like pawns in their grand game of social engineering.  This crap has got to stop!

Lawmaker Vows to Outlaw Insider Trading on Capitol Hill – WSJ.com.

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2 Comments leave one →
  1. October 12, 2010 6:43 am

    This sounds like some of the same things Maxine Waters has been accused of. How nice it would be to have a Congress full of members who are not there for personal gain.

    • October 12, 2010 8:28 am

      Yeah, what extremists we are to think that?

      This story is kind of telling in regards to private spending in elections this year. Meg Whitman, $140 mil?!? Just to be a servant to the people? Makes you wonder huh? (disclaimer, I could care less about California and Californians, but I do prefer Whitman over Brown.)

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