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Posted on 05/26/2011 4:05:45 AM PDT by radioone
It’s no secret that members of Congress qualify as political insiders, but a new report strongly suggests that they also may be insiders when it comes to trading stocks.
An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representatives outperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios.
(Excerpt) Read more at washingtontimes.com ...
....and Americans don’t trust politicians. Go figure.
Judges avoid ethical problems by investing in “blind trusts,” funds whose individual stock and bond components are kept unknown to the investor, so that they will not be tempted by the prospect of what a particular decision might do to their own net worth. Why this is not also the norm for legislators and executives, I don’t know.
Put a wire on one of those investment savants and it could be way more entertaining than a lame old post office scandal.
LLS
Why is anyone surprised ?
If these politicians were the officers or employees of corporations, they’d be the targets of criminal investigation for “insider trading” by the anti-investment, anti-corporate zealots in the office of the Attorney General.
But because they’re pols, and Dems, particularly, it’s all cool.
Choot’em Lizbeth!!! Choot’em!!!
Well, sure. They get perks from they lobbyist who writes a bill for them to submit, submit said bill and then invest in the company that would benefit from the narrow legislation.
I was not surprised.
LLS
You bet they would!
LLS
I’ve heard that congress and its employees have a carve out when it comes to trading on material non-public information. Anyone know if they are actually allowed to trade on inside information? If this is true, it needs to stop.
Of course our 'press' won't look into it unless it's a Republican - and many Republicans come to office with money they've earned... A 43 year old dem who doesn't have two pennies to rub together when elected - and is a millionaire a few years after being in office should be looked at...
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