Insider Trading Is Perfectly Legal — But Only For Members Of The U.S. Congress

The Economic Collapse writes on Prison Planet:

Did you know that insider trading is perfectly legal in the United States? Well, not for 99.9% of the population. It is actually only a very small percentage of the population that can legally indulge in insider trading — the members of the United States Congress.

In fact, a law that would ban insider trading by members of Congress has been stalled for years on Capitol Hill. So why wouldn’t lawmakers in Washington D.C. want to apply the same rules to themselves that apply to the rest of us? After all, how are we supposed to respect the integrity of those “serving” in Congress when they are playing by an entirely different set of rules? The American people aren’t stupid. They can see what is going on. The truth is that there is a reason why approval ratings for Congress are at an all-time low.

The sad thing is that this issue has gotten very little attention in the mainstream media. Nobody seems really that upset about it. But it is a travesty that our lawmakers can legally make trades in the open market based on inside information that they have gained by being in positions of authority. As the Wall Street Journal recently explained they can generally make all the money they want off of insider information without any fear of prosecution because “insider-trading laws generally do not apply to lawmakers, leaving them free to trade on nonpublic information.”

Read More: Prison Planet

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  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    The absence of outrage is generally due to most people (except partisan true believers) knowing that as congresspersons they encounter what would be considered “inside information” every single day. The alternative would be restricting all elected officials from having investments of any kind…ever….or allowing them to have them but have no control over them whatsoever. Both ideas are almost equally ludicrous…

    …but I’d still like to see some kind of criteria set up that punishes clear worst case offenders after the fact. I’d just like it drafted and written by someone who didn’t crawl from the bowels of Alex Jones’s Kool Aid Brigade and Tinfoil Helmet Armada.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    The absence of outrage is generally due to most people (except partisan true believers) knowing that as congresspersons they encounter what would be considered “inside information” every single day. The alternative would be restricting all elected officials from having investments of any kind…ever….or allowing them to have them but have no control over them whatsoever. Both ideas are almost equally ludicrous…

    …but I'd still like to see some kind of criteria set up that punishes clear worst case offenders after the fact. I'd just like it drafted and written by someone who didn't crawl from the bowels of Alex Jones's Kool Aid Brigade and Tinfoil Helmet Armada.

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