Congress Tells Court That Congress Can’t Be Investigated for Insider Trading

The//Intercept ^ | May 7, 2015 | By Lee Fang

[Brad from Tennessee]

In a little-noticed brief filed last summer, lawyers for the House of Representatives claimed that an SEC investigation of congressional insider trading should be blocked on principle, because lawmakers and their staff are constitutionally protected from such inquiries given the nature of their work.

The legal team led by Kerry W. Kircher, who was appointed House General Counsel by Speaker John Boehner in 2011, claimed that the insider trading probe violated the separation of powers between the legislative and executive branch.

In 2012, members of Congress patted themselves on the back for passing the STOCK Act, a bill meant to curb insider trading for lawmakers and their staff. “We all know that Washington is broken and today members of both parties took a big step forward to fix it,” said Rep. Bill Johnson, R-Ohio, upon passage of the law.

But as the Securities and Exchange Commission made news with the first major investigation of political insider trading, Congress moved to block the inquiry. . .

[dware]

What are we doing about it?

[Bloody Sam Roberts]

I wonder how much longer it will be before the American experiment implodes.

Hopefully, not before all patriots' stored gunpowder explodes.

[oh8eleven]

Term limits ... it’s time.

[MeshugeMikey]

Does insider trading include members of elected officials extended families?

[Jane Long]

What are we doing about it?

---

Shaking our fists.
Stomping our feet.
Allowing these crooks a return stay in DC.
Etc, etc.

[The_Media_never_lie]

Yes, the US is surely a parody.

[dware]

Allowing these crooks a return stay in DC.

Ah...so, like, keep voting GOP, because, GOP is better than democrat...or something...

[Jane Long]

Yep.

[kingu]

It's okay, so long as they have an (R) after their names, we'll be told to vote for them lest we ‘throw away our votes’ or ‘effectively vote for the liberal in the race.’

When was the last time a congresscritter ‘retired’ from Congress and wasn't a millionaire?

[WKUHilltopper]

Laws only apply to those to be fed upon, not them.

[BCR #226]

If they are above the law then so is everyone else. Why should I or anyone else abide by the law when they don’t? They’re creating a situation that will have no good ending if it isn’t stopped now.

[Darksheare]

But remember, it was SO important to vote for the RINO or else the Dem would win.

[freedomfiter2]

Voting them out of office, even when possible, won’t fix the problem. They need to be prosecuted to the full extent of the law as soon as they are out. This must include executives as well as legislators.

[hosepipe]

[PoloSec]

A childish self defense of one caught with his hand in the cookie jar.

[who knows what evil?]

That is one of the most disturbing images* I have ever seen on Free Republic. Congratulations!

*Not as disturbing as the ones posted by a pro-sodomite hacker a number of years ago, but that was a different situation.

[drypowder]

With regards to the criminal activity of those elected officials in DC, it could get worse, they could start trying to kill us.

[SvenMagnussen]

The US Constitution replaced the Articles of Confederation. The US Constitution can be replaced with new national governing document that holds Congress accountable for violations of the law.

[The_Media_never_lie]

If they are above the law then so is everyone else. Why should I or anyone else abide by the law when they don’t? They’re creating a situation that will have no good ending if it isn’t stopped now.

Because, if you are found out you will be prosecuted. The law applies to you and or me, but not to our rulers who have the propaganda machines at their beck and call.

[M Kehoe]

Ok then, all your (congresscritters) investments/holdings etc. goes into a blind trust the moment you are sworn in.

There, fixed it.

5.56mm