Congress: Trading stock on inside information?

CBS News' 60 Minutes ^ | November 13, 2011 | Steve Kroft

[Morpheus2009]

Well, I don't often like what's on 60 minutes, but a great deal of the bipartisan corruption, and easily why you have the two-party system, is explained on the first twenty minutes of CBS' Sixty Minutes.

Enclosed in the link should also be the video.

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[cripplecreek]

Congress: Trading stock on inside information?

Of course they are. That's why they've made their own prosecution virtually impossible.

[trumandogz]

Shocking!

[Stosh]

Impossible! - when she became Speaker, didn’t she promise to “drain the ethical swamp” that Washington had become? Right after she pledged a “pay-as-you-go” policy by which any new spending would be budget neutral??

[Repeal The 17th]

“The federal government is subsidizing this operation at $16,000 per mile.
We do not build our track in straight lines!”
-
The 2nd episode of “Hell on Wheels” airs tonight at 10 eastern on AMC.

[holyscroller]

That explains how they can go into office as “normal” well-intentioned citIzens, and soon become millionaires while in office. Then simultaneously they seem to start looking down on us “little people” mand start thinking they’re smarter than the rest of us.

[freekitty]

They should be in jail cells.

[Wolfstar]

Politician = crook.

Not every single one of them, but most of them for sure.

[Balding_Eagle]

I’ve pointed out this insider trading many times.

Maybe with Republicans soon controlling both houses something will be done.

[cripplecreek]

Not every single one of them, but most of them for sure.

Yeah, only about 98%.

I guess I should consider myself to be fortunate to have an apparently honest representative. From all my digging it appears that his wealth is in the 6 figure range which is pretty low for a man with 20 years in state and federal politics.

[Terry Mross]

Go back at least 60 years. A congressman is a silent partner, which means he didn’t put up any cash, with two money men who buy some worthless land. Before long congress appropriates money to build a damn and make a wonderful lake. Just so happens these three now own a bunch of lake front property.

Or, go back a few years ago in Austin, Texas. The Treasury Secretary moves the state’s accounts to a particular bank. Said bank loans a partnership, of which the TS is a member, a ton of money to buy some land. Later a freeway is built through that land and the partnership makes millions. And I’m not talking about Kay Bailey Hutchinson. But probably because it was done before she got there.

[Terry Mross]

Wow! That’s funny!

[Shady]

It will probably come out that Congress exempted themselves from the law...

[abigkahuna]

Both parties are corrupt to the gills as far as I am concerned, yup, even your favorite congress critter. The current crop of tea partiers in congress need to be voted out after a single term, returned home and a new bunch sent in their place. They did their duty, now its time they return to their tire shop, dentist office, or whatever occupation they held before going to D.C.

That's just the newbie tea partiers. The old guard needs to be run out of town on a rail... and replaced with newbie tea partiers, who will then be replaced after a single term....kinda like jury duty-—

make it distasteful to serve in Washington, distasteful but necessary.

Make congress subject to the same laws as us “little people”. Our overlords are no better than us peons.

[tips up]

I can’t decide who are bigger scumbags, members of congress or the main stream media. Perhaps a tie...

[mazda77]

Maybe with Republicans soon controlling both houses something will be done.

Just like it was the last time they did? Right. I have heard from time to time that hope floats, well so does dung. I have given up on the concept of politicians changing anything. It is time to clean house with principled businessmen instead of a group of attorneys who gave up on making a killing in a court room.

[Morpheus2009]

The big issue is that while the economy and job markets are in shambles, these people know what bills are being passed, and will buy or sell stocks accordingly, being at an advantage for actual money made. If I were a history teacher, I would present this TV segment about Congress buying stocks in my own class, and I am serious about this! This episode is a must-see for anyone who thinks that at least as far as party is concerned, your congressman/congresswoman can have positive intentions.

[not2worry]

In as a pauper out like a king!

Why not run for Congress. It’s better than winning the lottery.

[LuvFreeRepublic]

Been listening to Steven Bannon Radio show with Peter Schweizer and NewsWeek author Peter Boyer. Schweizer is one of Andrew Breitbart’s journalists and he did the research for the insider trading story on 60 Minutes. He has a book coming out Tuesday, “Throw all the bums out”. He names names and gives lots of details. Dems and Reps....all crooks.

Boyer has an article coming out in NewsWeek tomorrow. They are all over this story and Schweizer will be on lots of talk shows this week.

This could be REAL BIG.