Posted on 05/25/2011 6:01:20 PM PDT by newzjunkey
... A study published in the journal Business and Politics Wednesday found that members of the House of Representatives outperform the average investor when it comes to buying and selling stocks by 55 basis points per month, or six percent annually...
Despite their reputation as the party of the rich, Republicans fared worse than their Democratic colleagues when it comes to playing the market, according to the study. That could be because Democrats were the majority party, and thus held more leadership posts, for most of the period under review...
(Excerpt) Read more at washingtontimes.com ...
Insider trading regulations and laws do not apply to members of congress and their staff by federal law.
More evidence of the fact we are now a FASCIST country.
Is that true?
They’re only getting up to 6 percent annually? That’s chump change, that’s barely the nominal dividend on a good stock.
A Racketeering and Influenced Corrupt Organisation of, for, and by the people, or just a Ricocracy for short.
Tangent to this Bush and Cheney put all their money in temporary Blind Trust with their financial planners at arms length and Cheney donating over 30 million in company stock and the "535" do not, scratch that, are not required to hire someone to act as a "fudicary" ( Yes Frank-en-stein's new mantra) ?
I am ready to puke....
He sits on many committees that see these “opportunities” before they ever get to market.
We'd be safer if la cosa nostra was in charge.
We need a congress to watch our congress.
Congress should be dissolved and attorneys should be barred from running for office.
These people make me ill!
btt
Being part of the government entity that gets to pick winners and losers has a tendency to enhance one's investment savvy. The prudent 'rat probably went long on GE, and shorted BP last year. After all, their own party gave preferential treatment to GE, while simultaneously bashing BP.
Many people shrink at the use of the word fascism, but you are quite correct. Government, which is ultimately not an amorphous thing, but people, have insinuated themselves into a position where they profit from choosing the winners and losers of a so-called free market by rewarding and metting out punishment in an arbitrary and capricious way that benifits them only. Any benefit to society at large, if it occurs, is purely an accidental side effect. And with all the revolving doors between elected office, appointments, lobbyists, and boards of directors, we see the same faces pop up time and again. The population, you and me, are no longer individuals, but “markets”, sources of tax revenue, and breeder stock for the next generation of slaves.
Agreed
and
I am John Galt
Now to teach the next generation....
Just like Hillary Clinton’s astounding 1,000% profits on her cattle futures contracts - it is easy to make money when your broker breaks the laws for you and back dates your trades in the books after the gainers and losers are known.
BS.
There is no agency that tracks the “average investor’s returns” in the stock market.
As you read it, I suggest replacing the term “Salary” with “financial gain apart from salaries”.
I suggest applying its idea primarily to Legislators (rather than the executive).
The brand of “Insider Trading” practised by our National Legislators must be prevented.
As Franklin says:
“Sir, there are two passions which have a powerful influence on the affairs of men. These are Ambition and Avarice; the love of power, and the love of money. Separately each of these has great force in prompting men to action; but when united in view of the same object, they have in many minds the most violent effects. Place before the eyes of such men a post of honour that shall be at the same time a place of profit, and they will move heaven and earth to obtain it.”
And, I would add, to keep it.
In this vein, I advocate Constitutional Amendments along these lines:
limiting eligibility to hold legislative office to two of every four years for Representatives, and to six of every twelve years for Senators;
requiring all legislators to be subject to recall;
a complete ban on the purchase or sale of ANY assets by legislators and their immediate family during their (term limited)period of service, and for a period of years afterward;
an ineligibilty to hold any other public office or appointment for a period of years after their term;
the placing of any non-material assets in escrow during their period of service;
a full audit of their taxes each and every year they’re in office and for a period of years afterward;
and so on.
Didn’t the Clintons make $100,000 off $10,000 in less than 6 months? With NO great financial awareness... The ‘press’ wasn’t interested in that story... wonder why?
EVen more than inside trading is this: they know when their decisions will rock the market. I’m sure they talk with their financial agents to trade, sell or hold before any vote they know is in the bag and will cause market calamity.
Absolutely keep your eye on the Democrat congressional staff. They are the biggest money grubbers and theives
Go figure. And one wonders why we have so many problems in this country. When is the whole thing going to blow up in violence over all of the cheating?
Can't we be all for transparency?
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