34 votes

Members of Congress Trade in Companies While Making Laws That Affect Those Same Firms

By Dan Keating, David S. Fallis, Kimberly Kindy and Scott Higham
Washington Post

One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, a Washington Post analysis has found.

The lawmakers bought and sold a total of between $85 million and $218 million in 323 companies registered to lobby on legislation that appeared before them, according to an examination of all 45,000 individual congressional stock transactions contained in computerized financial disclosure data from 2007 to 2010.

Almost one in every eight trades — 5,531 — intersected with legislation. The 130 lawmakers traded stocks or bonds in companies as bills passed through their committees or while Congress was still considering the legislation. The party affiliation of the lawmakers was almost evenly split between Democrats and Republicans, 68 to 62.

Continue reading at the Washington Post

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If we know the companies

Crash them, take out all investments and boycott them and let them disappear.

northstar's picture

Take their candy away!

This is how our congress critters get corrupted. Once they bite, they're in and have to play along with all the other ill's on the hill. Wall Street supposedly can't do insider trading, but Congress can?

America, this is totally crooked, corrupt and your congressperson participating in this will no longer serve you and America in good faith.

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!

If that isn't insider trading

I don't know what is.
Must note:
to the right of comments there's a box with a heading '2012 Presidential Candidates' and Ron Paul's pic is featured!!!!

(along with http://i.imgur.com/t9Nkk.jpg)

If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy.
James Madison

Way worse

There is nothing morally wrong with insider trading. Insider trading aids in price discovery. What we have here is people using other people's money to buy guns and prisons to use in rigging markets, and trading in those markets. As usual, if a mundane did what lawmakers do, it would be a serious felony.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

northstar's picture

Corruption at it's finest

It's one of Congress' dirty little secrets.
Vote them out!

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!