Posted on 03/07/2019 9:43:29 AM PST by topher
Former House Speaker Nancy Pelosi bought stock in initial public offerings (IPOs) that earned hefty returns while she had access to insider information that would have been illegal for an average citizen to trade with – even though it’s perfectly legal for elected officials, CBS’s "60 Minutes" reported Sunday night.
In a piece relying on data collected from the conservative Hoover Institution, "60 Minutes" revealed that elected officials like Pelosi are exempt from insider trading laws – regulations that carry hefty prison sentences and fines for any other citizen who trades stocks with private information on companies that can affect their stock price.
In the case of elected officials – this secret information ranges from timely details on lucrative federal contracts to legislation that can cause companies’ stocks to rise and fall dramatically.
How do they get away with it? Lawmakers have exempted themselves from the laws that govern every other citizen.
(Excerpt) Read more at newsmax.com ...
Yep. Justice will be served any day now! /s
Its not new news, but how many people realize that a Congressman’s pay is peanuts to them. They make laws that favor themselves more that the public, and profit from it. They are exempt from insider trading. I bet they laughed all the way to and from that vote. What next, a vote for a free Rolls Royce for each member and a Villa on the Rivera? We the people let this INSANITY continue?
bfl
Martha Stewart should sue.
I’m more into the Star Kist minimum wage exemption myself. She got that.
This is why they passed the Stock act of 2012 but you damn well know she’s still doing it as well as every other member of the Ray/RINO Uniparty of treason and of course they don’t get investigated
Martha Stewart was never convicted for insider trading.
She made the mistake of voluntarily talking to the FBI.
When DC falls, I believe it will be a SPLAT, not a thump
They gave themselves an exemption, and got filthy rich off it.
This is the main reason these scum get rich while in DC.
Martha Stewart had prison time. Pelosi and Hellary get free passes.
I have always maintained that there should be a Constitutional amendment that mandates that anytime a piece of legislation exempts Congress, members of Congress, or Congressional staff, the provision must be approved on a separate roll call vote before the related bill can be voted on. Same goes for any bill that affects Congressional (members or staff) pay or benefits. Make the bastards go on record.
IF this is true, then why did This happen?: SEC Charges U.S. Congressman and Others With Insider Trading FOR IMMEDIATE RELEASE 2018-151 https://www.sec.gov/news/press-release/2018-151
Note that Collins was charged for illegal insider trading as a board member of the company, not from info learned in Congress.
https://www.bna.com/congressional-insider-trading-n73014481596/
Plenty of insider trading going on in Congress, but passing info too far down the line is still illegal.
well, darn. Just when I was about to get another happy bubble above my head imagining Nan on a perp walk, somebody comes along and pops it with reality. And this is why I love Freepers. :)
The law was changed.
What about all of the no-bid gov’t contracts given to her husband?
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