Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Lieberman Says SEC Can Prosecute Congressional Insider Trading
Business Insider ^ | Dec. 1, 2011 | Zeke Miller

Posted on 12/01/2011 10:11:16 AM PST by Qbert

In an interview with Fox News this morning, Sen. Joe Lieberman (I-CT) said that the Securities & Exchange Commission believes that under existing law they can prosecute lawmakers who trade on insider information.

“The Securities & Exchange Commission is going to say in testimony submitted to our committee today that under existing law they could prosecute members of Congress guilty of using insider information to make money,” he said, POLITICO reported.

Lieberman is the Chairman of the Senate Homeland Security and Governmental Affairs Committee which is holding a hearing today into allegations raised on '60 Minutes' last month that lawmakers are getting rich by abusing their offices. Initial reports suggested that lawmakers were exempt from insider trading laws.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Crime/Corruption; Government; News/Current Events
KEYWORDS: insidertrading; lieberman; sec

1 posted on 12/01/2011 10:11:19 AM PST by Qbert
[ Post Reply | Private Reply | View Replies]

To: Qbert

Unfortunately I don’t trust the SEC any more than I do congress.


2 posted on 12/01/2011 10:14:30 AM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

Not good news for Red Nancy Pelosi.


3 posted on 12/01/2011 10:16:12 AM PST by Old Sarge (RIP FReeper Skyraider (1930-2011) - You Are Missed)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

If this is true, I’d like to see Boehner be the first congress critter to do the perp walk.

He MUST be replaced...


4 posted on 12/01/2011 10:16:21 AM PST by rottndog (Be Prepared for what's coming AFTER America....)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert
In an interview with Fox News this morning, Sen. Joe Lieberman (I-CT) said that the Securities & Exchange Commission believes that under existing law they can prosecute lawmakers who trade on insider information.

They had already decided this, and yet they let Feinstein, et al run wild?

5 posted on 12/01/2011 10:16:21 AM PST by E. Pluribus Unum (Holding our flawed politicians to higher standards than the enemy’s politicians guarantees they win)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

Scott Brown introduced legislation banning members of Congress from trading on non-public information and reporting any stock transacations over $1000 within 90 days...it better include staff, justice, executive branches as well. I really despise these people...


6 posted on 12/01/2011 10:16:42 AM PST by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

I wonder if bright orange is Pelosi’s color? Also, can we sue her for our gas money back? I don’t believe that a majority leader is that much that they need a private jet on my dime! (OK. I’m still fumed about that).


7 posted on 12/01/2011 10:17:20 AM PST by Bitsy
[ Post Reply | Private Reply | To 1 | View Replies]

To: E. Pluribus Unum
They had already decided this, and yet they let Feinstein, et al run wild?

Tah da! lol
8 posted on 12/01/2011 10:18:38 AM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Qbert

Don’t hold your breath, unless your favorite color is blue.


9 posted on 12/01/2011 10:22:00 AM PST by Wolfie
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

Just as soon as they get through investigating silver price manipulation and the CME.


10 posted on 12/01/2011 10:22:00 AM PST by BipolarBob (Of all the gin joints in all the towns in all the world and she walks into mine.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Qbert

Let’s start filling the jails now. I am sure that thousands of staff and Congress persons have illegally enriched themselves.


11 posted on 12/01/2011 10:26:21 AM PST by businessprofessor
[ Post Reply | Private Reply | To 1 | View Replies]

To: SueRae
it better include staff, justice, executive branches as well. I really despise these people...

Nearly 370 former members of congress are "lobbyists".

Revolving Door: Former Members

senior staffers (Majority GOP due to the fact that the GOP is in the majority)
12 posted on 12/01/2011 10:27:07 AM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: cripplecreek

"Unfortunately I don’t trust the SEC any more than I do congress."

You mean the same SEC employees that were viewing dirty movies at work while the stock market was crashing in '08?

13 posted on 12/01/2011 10:30:41 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: rottndog

It would be nice to see him go if he really did it... along with the scores of Dems that were doing this.


14 posted on 12/01/2011 10:33:34 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Qbert

My congressman is apparently doing something wrong. After 20 years in state and federal politics he’s still a 6 figure income earner.


15 posted on 12/01/2011 10:38:43 AM PST by cripplecreek (Stand with courage or shut up and do as you're told.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: cripplecreek
All I know is that LBJ went into Office as a dirt farmer and came out worth 100's of Millions with TV stations, Banks and a awesome ranch on then a small Government salary.

I personally know that in the old days, if you wanted a Bank, Radio Station or TV station you would call your congressperson and he would have his staff push through the paperwork for a percentage of the deal.Kinda of like the Mafia if you wanted garbage pick up or a building built.

Now they just buy stocks on short them on news that the staff has put in bills.

16 posted on 12/01/2011 10:47:36 AM PST by scooby321
[ Post Reply | Private Reply | To 15 | View Replies]

To: Old Sarge

I members of congress cannot trade on insider information I’m truly afraid the quality of representation will suffer. /s/


17 posted on 12/01/2011 11:06:15 AM PST by ImJustAnotherOkie (zerogottago)
[ Post Reply | Private Reply | To 3 | View Replies]

To: cripplecreek

Me either. If the law applies as is to Congress, then why have they turned their backs and not enforced existing laws??? Just like ‘Fails to Deliver’ and naked short selling, the rules/laws are there, they’re just selectively enforced.


18 posted on 12/01/2011 12:16:31 PM PST by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Qbert

Dog thinks about biting the hand that feeds but it knows better than to do that.


19 posted on 12/01/2011 12:17:31 PM PST by fella ("As it was before Noah, so shall it be again.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: scooby321
All I know is that LBJ went into Office as a dirt farmer and came out worth 100's of Millions with TV stations, Banks and a awesome ranch on then a small Government salary.

I remember reading about LadyBird Johnson, going through Texas and telling stations to sell out, or she'd have them shut down.

20 posted on 12/01/2011 12:24:39 PM PST by aimhigh
[ Post Reply | Private Reply | To 16 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson