SCAMSMThe Society for Consumer Advocates and Mavens | |||||
News You Can Use!
| |||||
TopicsAdvertising and MarketingAirline Industry Animal Cruelty Auto and Transportation Business and Industry Buyer Beware Children and Family Concerns Consumer Alerts Crime & the Justice System Drugs and Supplements Education and Schools Entertainment, Art & Artists Environment Finance and Investing Food and Beverage Fraud Gambling Government Health, Nutrition & Fitness History Home and Real Estate Insurance Law and Politics Medical Matters Misc News Media Observations, Myths & Thoughts Product Safety Religion Restaurants and Fast Food Security and Terrorism Society and Culture Sports Statistics and Studies Surgery The Business of Beauty The Workplace Travel and Recreation |
INSIDER STOCK TRADING AND
THE U.S. CONGRESS To date, there is no law
prohibiting legislators in the U.S. Congress and their staffers from taking
information they get in committee and using it to profit before anyone else on
the “street” gets the information potentially resulting in windfall profits
for our elected legislators! For example, anyone
working in or around the Senate Finance Committee or Banking Committee will hear
information about changes happening in an industry or to a corporation before
the public ever gets to hear the information and no law exists prohibiting
legislators from using the “inside” information to buy or sell stock
resulting in “insider” trading! U.S. Congress ethics
rules prohibit this type of insider trading by legislators but if
they break an ethics rule they will never go to jail like the rest of us
will if we ever get caught profiting from insider trading! SUPPLEMENTAL SOURCE:
CNBC-TV 3/30/06 |
HOME | SCAMS | CONTACT US | OTHER SITES