Washington Insiders Doing Some Insider Trading

Nov 13, 2011
J. Webster
Comments Off on Washington Insiders Doing Some Insider Trading

Well, surprise, surprise, what do you know, some members of congress are making some extra money by trading stocks with some very inside and non-public information. And what’s crazy is this is legal. Lawmakers can trade on non-public information. Sure, it’s unethical, but they’re not breaking any law by doing this. It’s like the world is upside down.

During the healthcare debate they were trading healthcare stocks. During the financial collapse Congressmen Spencer Bachus of Alabama, who sits on a financial committee, was trading stocks after a meeting with Bernanke and Paulson, when the two were saying the world’s financial markets were on the verge of an epic collapse. Yeah, can you believe it. Bachus was going to meetings where you weren’t allowed to bring your cell phone and then trading stocks 24 hours later. 60 Minutes has the story in the video below.

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