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Neal Barton's POV

Well it's about time

POV

POSTED: Tuesday, January 31, 2012 - 7:48pm

UPDATED: Wednesday, February 1, 2012 - 11:26am

Just when you think those in Washington D.C. are out of touch, this comes out. The Washington Post reports Congress low approval ratings have sparked a rare instance of bipartisanship.

Both parties are rushing to pass a bill that would make it clear that insider trading laws apply to lawmakers.

The Senate voted 93-2 Monday to clear the way for consideration of amendments, and sponsors hope for  final passage later this week.

Members of both parties looked at approval ratings in the teens in an election year and didn't like what they saw. But it was an independent, Sen. Joseph Lieberman of Connecticut, who may have best expressed Congress' political plight.

"The numbers of people who have a favorable impression of this body are so low that we're down to close relatives and paid staff. And I'm not so sure about the paid staff," he said.

Only in the nations capitol is insider trading seen as some sort of a right. Some sort of a perk.

As I always say about the folks on both sides of the isle, rules for thee but not for me.

Pollster Scott Rasmussen has a new book out. It's called The People's Money.

You know you're money which is in high demand for all that pork.

I want to read this book because Rasmussen says what D.C. has been telling us for a century is a lie. And that people are hip to that.

Politicians say we rubes want to tighten up the budget, but saw when specific programs are offered up, the people screw'em.

Rasmussen says that's not true. Most folks would take cuts if it helps the country.

But, this insider Washington attitude seeps out every day to more people.

And one day, there is going to be a political Armageddon at the ballot box.

And most of these insider traders will become working stiffs like you and me.

To me, that day cant come too soon.

That's my point of view, what's yours?

You can email me at pov@ketknbc.com

Comments News Comments

Congress should not even have the power to legislate the market. The idea that they could benefit financially from a law they pass would not even matter if they couldn't pass laws that benefit one group over another.

Clauses in Article I and Article II basically state that The President, Senate, House or other gov't officials can not profit personally from their positions. Equal protection arguement says that laws apply to everyone, even them. But, they are free from prosecution as long as they're in office. Repeal the exemption from insider trading and prosecute those coming out of office who have been guilty of it.

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