Just a couple months ago insider trading hit the FDA with a chemist making trades and profits with his known information and as far as I know the story is still trailing along but you kind of wonder how he might look up and see the Hill with having no restrictions on insider trading rules from members and their staff. I think this also might be the case for the bill getting a lot more attention here of late, plus the recent convictions in the financial district.
FDA to Review Security Data Access After Insider Trading Charges Filed-Time to Update Group Policy on The Servers
The article here states there’s no suggestion that there’s big trading going on; however there’s no rule against it since they do not fall under the SEC regulations and thus it is perfectly legal. The article does go on to say that professional investors do around 6 percent and that the recent numbers show senators outperforming the market by 12 percent, so that brings about some questions. A short time ago the Wall Street Journal dug up some information with congressional staff members shorting home builders and buying shares when the stock markets fell in 2008 and also mentioned the tracking of energy and food companies that gained during the stimulus package. Flat out, it’s just not fair as we watch and see others go to jail for such trading habits. The recent poll shows Congressional approval rate at 17%, and that is not good. I say they are also digitally illiterate and have made that statement in many posts of late. We certainly like to market and the days that Anthony Weiner was in the news sure made a lot of advertising money. I don’t have a problem with Twitter making money as they serve a good purpose but after the news stories are all said and done, nothing progressive comes off the Hill.
The Price for Promoted Trend Sponsoring on Twitter Costs $120,000 A Day–How Much Money Did WeinerGate Drum Up Or Is He Still Drumming Up?
Does this guy have insider trading capabilities, Vitter? We don’t know but he has a lot of other bad deeds stacked up and he continues to serve.
When you see stuff like Anthony Weiner having to leave and then we still have Vitter still around, what gives here? It’s not fair at all and with transparency today we are seeing more and more come to light. Insider trading should not be allowed equally all over and Congress and their members should not be exempt. I think it could be a good time for Larry Flint to to run another ad to help us find out who’s got the goods on insider trading on the hill just like he found the hookers for us:) BD
CEDAR RAPIDS – Members of Congress annually file financial disclosure reports that include assets bought and sold as well as the value of their publicly and non-publicly traded assets.
Nowhere on those forms do they disclose why they made one investment or another.
Given that studies by academic researchers have found members of Congress routinely outperform the market, some – very few – lawmakers are calling for regulations to prohibit insider trading on non-public information by members and their staffs.
Second District U.S. Rep. Dave Loebsack and five others in the 435-member House are co-sponsoring the Stop Trading on Congressional Knowledge Act – the STOCK Act – to prevent insider trading by members of Congress