60 Minutes Episode - Insider Congressional Trading

[87e30]

Anyone else watch this? I can't say that I'm surprised but I hadn't heard about it before. Maybe it's old news...


In short, corporations are held to very strict standards with regards to insider trading but congress has essentially excluded themselves from the law. Information is passed around congress and large money is made from it and it can be argued that decisions are swayed by the trading/agreements/money making.

We are all aware of ear marks and pork barreling but this takes it to a more personal level in my opinion.

[Dozyproductions]

Didnt watch it but thank you for mentioning it. I'll try to find a recording of it somewhere.

[87e30]

I watched it on xfinity.

[z31maniac]

but congress has essentially excluded themselves from the law

This is true for so many things it's digusting.

[samiam3356]

I watched it the other night. I use to be a series 7 licensed Financial Advisor for about 8 years and would have went to jail for shit like this. Makes you wonder about the closed door dealings that no one ever hears about. Man this government is so fucking corrupt, legally and illegally.

[M-technik-3]

Fact that power and money corrupt is just a fact. Why do you think that some die in office.

[gwb72tii]

i hope crap like this is coming to an end, that is, congress being able to exempt themselves from laws and regulations the rest of us live with.
at some point in the next 6 years i hope there is a constitutional convention to enact a balanced budget amendmant and term limits for congress.

[BraveUlysses]

Coming out millions ahead from a job that pays 100-200k/year...something's not right, and hasn't been right for a long time.

[87e30]

i hope crap like this is coming to an end, that is, congress being able to exempt themselves from laws and regulations the rest of us live with.
at some point in the next 6 years i hope there is a constitutional convention to enact a balanced budget amendmant and term limits for congress.

There is the Stock Act which nobody seems to be listening to...

One of the congressman in the video was trying to pass a bill to stop insider trading but he couldn't gather any support, go figure.

[samiam3356]

If you were on the inside of this group and making millions of inside information, would you listen to him?

[mrsleeve]

really you guys are just becoming aware of this ????

[87e30]

If you were on the inside of this group and making millions of inside information, would you listen to him?

It's hard to say since I am not in that position. But I can tell you right now that I fully believe I would want to stop this kind of corruption. It's very very short sighted and offers little, if any, benefit to the country. If you want to make money there are plenty of options, going to congress shouldn't be one of them. (Not like you get paid poorly... I'd rather up their salary and remove these kind of benefits, but good luck getting an ignorant public to vote through salary increases, lol)

really you guys are just becoming aware of this ????

I figured most of you had heard, I hadn't. I also still thought the video was interesting.

[gwb72tii]

Coming out millions ahead from a job that pays 100-200k/year...something's not right, and hasn't been right for a long time.

Patty Murray of my state is a prime example (of many)
her original campaign theme highlighted her difference from the dc elite and her not being rich
now she's one of the most well to do

maybe its asking too much for anyone elected to continue to have ethics in the face of temptation. all the more reason for term limits, no pensions, and no special medical

[joshh]

really you guys are just becoming aware of this ????

Exactly what I was thinking. This shit has been going on for a very very long time. It's part of the big corp ass kissing that gores on.

[BraveUlysses]

Patty Murray of my state is a prime example (of many)
her original campaign theme highlighted her difference from the dc elite and her not being rich
now she's one of the most well to do

maybe its asking too much for anyone elected to continue to have ethics in the face of temptation. all the more reason for term limits, no pensions, and no special medical

Yup, remove all pension/retirement/medical benefits from congresscritters, no stock, mutual fund or investment allowed. They get paid a straight wage for doing their job and nothing else.

Not that it's realistic that would ever happen, but if we don't get the money out of politics, we will fail as a nation.