Bill filed to prohibit congressional insider trading

  • Thread starter Thread starter News Feed
  • Start date Start date
N

News Feed

Guest
Members of Congress and their staffs would be prohibited from using insider legislative information for investment purposes under legislation filed Tuesday in the wake of a CBS News "60 Minutes" report.

w05OIt77UMU


Original Source: CNN
- Continue reading...
 
Apparently such a law is not needed (and by making a special case, may weaken the case against Congress critters).
Insider trading laws currently cover congress.

Better would be that representatives should divest themselves of all stock instruments and keep only cash accounts - that way their wealth would be determined by how well their dollars kept their value. That might incentivise some different behaviour.
 
FluffyMcDeath said:
Apparently such a law is not needed (and by making a special case, may weaken the case against Congress critters).
Insider trading laws currently cover congress.

Better would be that representatives should divest themselves of all stock instruments and keep only cash accounts - that way their wealth would be determined by how well their dollars kept their value. That might incentivise some different behaviour.
Click to expand...

Problem is not only the Congress Critters, it's their spouses as well or other family members. Then there is the staffers. Although I would dearly love to see Nancy go to trial, what needs to be done is a rapid transparent filings of Congress Critter, their spouses, and their immediate family members plus all staffers and their immediate family members. Say within 3 business days of that transaction taking place.
 
Dammy said:
... what needs to be done is a rapid transparent filings of Congress Critter, their spouses, and their immediate family members plus all staffers and their immediate family members.
Click to expand...
Nah. That's just playing around. What's needed is immediate prosecutions. But how do you get that when the politicians appoint the regulators?
 
Interesting that we see the problem on all sides. For example, in Florida the Republican Gov made it a requirement to do drug testing. He happened to own a hospital chain that does drug testing. So it's not money in his pocket he claimed to have transferred ownership to his wife. That way he 'won't see any benefit' -- Yup seriously the politicans think we believe that crap?!
 
actually they count on us believing that... history has proven that the bulk of us by and large do believe it... bad time to be a humanist....
 
Congress critters get rich like this.

Ever hear about the "new airport" or whatever and it's gonna get built in some stupid place and the taxpayers are gonna have to fork over tons of money to build a road to get there - yeah. That's the sort of thing that goes on all the time.
 
You must log in or register to reply here.
Back
Top