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Thursday, May 6, 2010

Congress Wins As Hypocrites of the Day!

Did you know that members of Congress are currently allowed to profit on insider trading!  Buying and selling stocks based on non-public information.  Things they might learn just because they are in Congress.  The kind of trading that might send you or me to jail.  Just ask Martha Stewart about it.

The Wall Street Journal reports a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast. 

The bill, which has been languishing in the House for four years, would require elected officials "to make their financial transactions public within 90 days of a purchase or sale" and "prohibit lawmakers from trading in financial markets based on nonpublic information they learn on the job," the WSJ reports.

It seems they're above the transparency they've been calling for on Wall Street.

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