Saturday, November 26, 2011

Vulnerable Lawmakers Rush to Back Bill Banning Congressional Insider Trading

Politically vulnerable lawmakers are lining up as co-sponsors of legislation that would ban congressional insider trading. - Publius/Breitbart's Big Government

A “60 minutes” report earlier this month indicated that members of Congress have been trading stocks based on knowledge gained from their positions, a practice that does not violate the law.
Before the report, a House bill that would outlaw the practice only had nine co-sponsors. In the week following the “60 Minutes” segment, that number jumped to 92. Of the 83 additions, 19 are facing competitive reelection races as defined by the Cook Political Report.

Congress: Trading stock on inside information? - CBS News

REVEALED: Nancy Pelosi Blocked Credit Card Reform While Investing Millions in Exclusive Visa Stock Offering - FOX