The Senate has severely scaled back the Stock Act, the law to stop members of Congress and their staff from trading on insider information. “Old ways to get rich: Invent good stuff. New ways to get rich: Insider trading. Taxes and rents. Capital raids.” Well, as a famous 1/32 Cherokee said, “you didn’t build that.” In other words, “Where’s my cut?”
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Doesn't this have to pass the House too? I know the Dems will vote for it, but they are expected to be sleazy. The Repubs need to maintain some sense of credibility and vote this down.
Both houses of Congress quietly passed the repeal on the same day. The House passed it unanimously. Your government at work, protecting their own asses. They gave themselves cover by asking a federal agency to "study" the matter and the agency decided that asking high level government employees to reveal their financial information would be a security issue. So you see, the repeal wasn't about allowing the rampant insider trading that makes so many federal employees rich, but rather to protect national security.
Wait a minute, I need to throw up.
No surprise here. The law was almost certainly kabuki theater to begin with- a response to the outing of the elected criminals insider trading ahead of the housing collapse. Anyone who actually believed that congress intended to police itself is a few epiphanies away from their introduction to reality.
I included this among my discussion topics for today's radio show and paired it with the fact that the Fed released its minutes a day early last week... to congressional staffers so they could make some quick bucks on the stock market by knowing important financial news before anybody else: http://jpattitude.com/BroadView.php
The federal government is a giant cesspool.
We pay them so little we have to allow for some...bending...of the ordinary rules so that our Progressive legislators can hold up their heads when they meet their European counterparts at various...conferences...and other official events in the south of France and the Caribbean. And besides, this isn't really 'stealing' in the same sense as pointing a gun at someone and demanding all their money(they do that through the Federal Tax Code.)
Looks like they decided it was time to refill the Swamp. Once again proves George Orwell right - "All animals are equal, but some animals are more equal than others."
No not Dirty Harry Reid. Of course they are going to enrich themselves as fast as they can. Just in case they lose the control in 14. Every last one seeking to be a member of congress should have to sign and pledge that what ever laws that they enact for the "People" applies to all of the "People", not just the unelected "People".
Is it any wonder that all of us working Americans hated and loath virtually all of the members of congress.