Sad truth about congressional insider trading
Prosecuting lawmakers for their actions will be difficult because of broad protections under the Constitution.
The Stock Act wouldn't have prevented the questionable lawmaker trades outlined in the Post series, such as House Speaker John Boehner's 2008 decision to move between $50,000 and $100,000 from a more aggressive mutual fund to a safer investment after discussions with Treasury Secretary Hank Paulson about the teetering economy, notes Melanie Sloan, the head of Citizens for Responsibility and Ethics in Washington.
Boehner and other members covered in the Post, and an earlier report by 60 Minutes, have denied wrongdoing.
There is no doubt Congressmen have given themselves a license to steal and murder. And yet, election after election we keep re-electing them.
In November please elect a guy who hasn't yet learned to rob taxpayers. Considering the approval rate of Congress and considering that Congress hasn't passed a good law since 1995 we will be better served by a bunch of newbies than by a collection of competent thieves.
Voting is pointless, at least in our present political system.
Let me give you an example of what happens when you elect someone to Congress who is NOT corrupt. It was a freshmen Representative, Scarborough I think. Gingrich wanted to go back on some of the promises in the "Contract With America" thing that the Republicans were big on at that time. Scarborough wanted to stand his ground on the promise. Guess who got projects yanked from their district?
Elect Congressmen who are not corrupt if you will. But they will lack seniority, be on no committees, have no influence, and when they try to act honestly, they will have money and projects yanked from their district. And guess what happens when they run for re-election? Their opponent can point out all the jobs that he/she lost for that district.
They will either play the corrupt game or not be re-elected. The system is rigged against honest people like a casino.
Once in an blue moon, you have mostly honest people run, or at least people who attempt to speak the truth (dangerous in politics). And guess what? They get called "nut jobs" and the political establishment will destroy them at all costs. Ross Perot in 1992 predicted things would go down the toilet economically for the US because of "free trade", globalism, etc, and 20 years later, his prediction about the "great sucking sound" of American jobs has been borne out.
Today, Ron Paul is the so-called "nut job". I wonder what the US will be like in 20 years from now or if it will even exist. If it does, it is not hard to imagine the country being a corporate-run police state, where a corporation (like in Kelo vs City of New London) can get your property if it wants through eminent domain, where jackboots can search your person anywhere and anyplace without probable cause, and where drones and cameras are everywhere and record anyone displaying an unpopular and "dangerous" opinion and they get "disappeared".
This is unbelievable - the USA is on the verge of bankruptcy. We are being taxed to death and ye we can't afford to fund School districts. Our corporate leaders in the private and public sector are being paid millions of dollars and heave excessive stcok benefits. We continue to provide golden parachutes to these individuals even if they have not provided growth to shareholders and grow the business.
We also have decided to continue to reward our Sports figures millions of dollars along with our entertainments industry while we have poverty and children suffering.
Our economy is in the dumps with high employment, underemployment, discrimination amoung individuals over 45 in the workplace. What is going to be done. The Federal government is broken and a change needs to be made or all of will continue to suffer it will continue to get worse. And yet we conitnue to pay our eleceted leaders who can't or won't work together! After they leave office the benefits they receive are unbelivable. Yet we continue to pay these leaders.
Salary of retired US Presidents .............$450,000 FOR LIFE
Salary of House/Senate members ..........$174,000 FOR LIFE
Salary of Speaker of the House .............$223,500 FOR LIFE
Salary of Majority/Minority Leaders .....$193,400 FOR
Average salary of a soldier DEPLOYED IN AFGHANISTAN - $38,000
Average income for seniors on SOCIAL SECURITY - $12,000
I think we found where the cuts should be made!
If you agree... Pass it on!
If our citizen's have entered the country legally they are legal - if they have entered illegal they are illegal. I know of no other country that allows illegals to enter regardless of circumstances to remain. The USA provides was to enter legally and this should be enforced.
My rant of the day! America lets wake up!
Boehner's a crook. Hypocrisy at its finest. To date, none sent to jail for the Wall Street debacle that almost brought the country to its knees, and we have the JPM CEO being revered during testimony to Congress instead of being raked over the coals for more 'gambling' with taxpayer money. Time to end JPM's $14 billion dollar a year subsidy from the average taxpayers.
Kick the "corrupt" bums out of Congress! They should be prosecuted too.
These bums don't care about us......this nation.........only their selfish needs.
These s.o.b.'s make Nixon look like a saint!
They can find ways to cut every program to the bone but when it comes to stuffing wads of cash in their pockets, they are the first in line to get it.
They think of nothing to cut unemployment benefits for people who remain jobless and reading this about Insider Trading is an insult to every voter in this country.
They truly run a country club on Capitol Hill!
These bums need to go and go quickly. Prosecute them and then lock them up for a long time. Send a strong message that this criminal behavior will not be tolerated.
Dimon of JP Morgan should be fired. That's all this country needs is another financial meltdown.
Why is this bum who makes $21 million still on their payroll?
They want to cut the education budget and everything else they can get their greedy corrupt hands on ...so we can scrimp by while they make millions!!! They are their to serve not become rich!
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.