POSTED: Wednesday, November 16, 2011 - 6:48pm
UPDATED: Thursday, December 1, 2011 - 4:46pm
tyler — Every night when I get done with the 6 o'clock news, I go over to my gym and have a workout.
While working on cardio on the treadmill last night, I saw a TV report that almost gave me so much cardio I had a heart attack.
All this stems from a new book out on congressional insider trading. It's called Throw Them All Out by Peter Schweizer.
A lot of congressmen are doing deals you and I would go to prison for.
They regulate the market and have knowledge you and I don't have.
They cash in sometimes doubling their money.
Or, they buy land they know is going to be used for a highway and then sell that land for huge profits.
I think the article I read in Yahoo news says it better than anyone.
It's by Henry Blodget.
He writes "You cannot read the description of the personal stock trading allegedly conducted by Rep. Spencer Bachus and other members of Congress during the financial crisis and conclude anything other than the following:
Our government is completely corrupt.
Yes, this behavior may be technically legal, because of an absurd loophole that makes insider-trading rules not apply to Congress.
Many members of Congress seem guilty here from both sides of the isle.
If a corporate executive or Wall Street trader did this--cashed in personally after getting private, non-public information from his work--Rep. Bachus and every other member of Congress would be screaming from the rooftops about how the financial system is deeply corrupt and how the executive should be charged with insider trading."
Roger Gray spoke with a professional today who said what Congress is doing may be legal after all.
But, I wouldn't look for a perp walk any time soon.
That's my point of view, what's yours?
You can email me at firstname.lastname@example.org