Dems and Repubs are both doing it, and I think it stinks!
http://www.washingtonpost.com/politics/ … rc=al_excl
It just seems to me, Greedy Dem and Republican Lawyers feel they are entitled to all they can beg, borrow and steal..
Most countries have made this specifically illegal, when i was in Australia a few years back a minister was fired for this exact offense.
When a politician decides to serve his public, I think at that point, buying and selling of stock should not be allowed. If he or she wants to be a stockbroker, then fine, just stay out of politics. Otherwise, they should concentrate on representing their voters, not making money from stocks.
Great evidence to show that campaign contributions should not be unlimited. The Supremely idiot Court of the U.S. seems unable to see it though!
That is not surprising to me. I would only be surprised if they did nothing with that info.
I love this country, I really do.......but it has nothing to do with these turds in D.C.!
(after reading the article) This kind of trade is not allowed in Australian Politics at any level. This constitutes a conflict of interest and is defined by either divesting of all business interests (sell shares) or get out of politics!
I think it's profoundly sad that no one who's replied to this thread, myself included, is surprised by the lack of ethical behavior displayed by our lawmakers. We don't expect much from them, do we.
The USA is officially a corporatocracy run by corporateers. Since corporates as legal persons have been gaining more and more constitutional rights such as money as free speech. Perhaps by the year 2024, it'll be President Walmart.
Insider trading is rampant all over the market, not just in Congress. That's why buying individual stocks is a loser's game for ordinary folks.
Yes, I never could really understand how people in management of big corporations could NOT have inside information. For instance, if the president of a company knows a stock is going to split - knows it, but didn't cause it, what is he supposed to do with his stock? Ignore it and lose money? That kind of goes against human nature. On the other had, if he deals with it and amasses a fortune, that isn't right, either because he got it with information others didn't have.
I agree with you in that the stock market is for the rich.
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