Community | November 13, 2011 | 115 comments

Congress:Trading stock on inside information?

source: http://www.cbsnews.com/video/watch/?id=7388130n&tag=contentBody

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KB723
"I was watching this tonight and found this video worth sharing!!! Seems, that now we know why they do Nothing for the people these days, and that means Both of the Corrupt Parties of our Fine United States!!!"

http://www.cbsnews.com/video/watch/?id=7388130n&tag=contentBody;storyMediaBo...

"I have no Clue why the video would not play so please check the link... " =)
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115 comments // Congress:Trading stock on inside information?

  • nardo1224
    • +1
      nardo1224  

    • Now I understand why our government is forcibly dumbing down the citizenry. As long as people don't understand the working of investing then they wil never catch on to the low down dirty schemes that our government is dong to us. That is also why we are having al these wars in the name of "freedom". Because that's the only thing this country will allow us to conceptualize. All we know is patriotism and war. everything else is for the grown folks.

    • 6 months ago
  • KB723
  • nardo1224
  • KB723
  • nardo1224
  • KB723
  • nardo1224
    • +1
      nardo1224  

    • This is making me nauseous. I've always know our congressmen and women were crooks but I never realized just how rotten they are. I just downloaded and burned to a dvd the french revolution from youtube and originally when I watched it and saw all the beheadings I was a bit troubled, but now I totally understand it and it would not bother me one bit if that happened in this country.

    • 6 months ago
  • KB723
  • nardo1224
    • +1
      nardo1224  
    • KB723:

      It's amazing what these bastards are getting away with right under our noses. I need to save this clip to my records so that I will have a copy when our government demands it be removed.

    • 6 months ago
  • KB723
  • nardo1224
  • KB723
  • crabbyoldguy
    • +1
      crabbyoldguy  

    • Since the politicians believe that their way is the best for the US let's have them liquidate their holdings and invest in government bills, bonds, notes etc.

      "H.R. 1148: Stop Trading on Congressional Knowledge Act" would attempt to address these issues, guess how much support it has.

    • 6 months ago
  • nikonwilly
  • KB723
  • RevKen
    • +2
      RevKen  

    • Congress should not be allowed to write the rules that govern their ethics. "We the People" should be the ones responsible for what regulations our politicians need to adhere to.

    • 6 months ago
  • KB723
  • jsayler
    • +2
      jsayler  

    • I don't know so much if we have allowed this to happen. We elect our representatives in good faith based upon the information presented to us. More often, it is happening that we are electing individuals who have the most money to spread their word (however misinforming, devious or out and our lies). We do not enforce laws that require truth in advertising; nor do we seem to actively care as a body of zombie sheep following their "profits."

      We need to take back our government (to steal a teabag phrase) from those that pursue an avenue toward self-engranduerization. In order to do that, we must take the money out of elections. We must elect truely worthy candidates based upon the truth of their actions and their proposals. We must keep them honest and not allow them to enrich themselves while in office via their elected office--including speaker fees. If they have time to write books, they don't have time to represent a consituency. We must ensure that they put in full days at work; full days in the week and full weeks in a year.

      The Constitution does not belong exclusively or more to one party or another, it belongs to all of us and it was written as a living document that was meant to evolve as society evolves and the World in which we all must live.

    • 6 months ago
  • KB723
    • +1
      KB723  
    • jsayler:

      Perhaps folks have been led astray??? After hearing GW Bush say: The Constitution is just a GodDamn Piece of Paper, (Nov 2005 Capital Hill Blue) I can imagine with the whole idea of Easy Money, of course they would look away from the reasons they were Hired... =(

    • 6 months ago
  • jsayler
    • +1
      jsayler  
    • KB723:

      I did not recall Dubba saying that, how ridiculous. He may be a "fun" guy but I am sure glad he's no longer leading a GOP congress. Thanks for the info.

    • 6 months ago
  • KB723
  • wynnmeg61
    • +2
      wynnmeg61  

    • It is really we have allowed our representation to turn into business rather than public service.

      The founding fathers actually built the Capital out in a nasty mosquito swamp, to make sure that public service was outright uncomfortable and in fact a threat to their health.

      We need to publicly fund elections -- and I mean only public funding no other funding allowed. We also need a "no competition clause" to their service. For example; make it where they can't collect big speaking fees, no working for companies that receive government contracts for 15 years or so. If we return to public representation being painful and uncomfortable, we can actually get in people who truly want to serve "We the People"

    • 6 months ago
  • KB723
  • MotherForTruth
  • KB723
  • wally60
  • MotherForTruth
  • BrotherTheodore
  • DanCastro
    • 0
      DanCastro  
    • BrotherTheodore:

      This is yet another total scam by the Congress! It's like when they passed EEOC laws for all of US, but left themselves out! They allow the banks and Wall St. to rob US because they have the power, and while we may be slow to react, we do react. I would say Congress is in for a major housecleaning and the new ones better put ALL their stock into a blind trust until they quit OR we will replace them! OCCUPY!

    • 6 months ago
  • BrotherTheodore
  • Dusty_King
    • +3
      Dusty_King  

    • Congress has been trading on insider trading for decades. How the hell do you think these yahoos just happened to buy a plot of land the government will be buying in 6 months? Every single member of Congress that plays the market is working off insider trading, just ask Diane Feinstein.

    • 6 months ago
  • Swisher
  • ahonnet
    • +2
      ahonnet  

    • I've always thought that all trading of US Congressmen and Senators should be treated as though they are insiders, similar to how tradings of executives of a company are disclosed. This way, any position movements of the Senators/Representatives would be public information that can be looked at by anyone.

    • 6 months ago
  • jsayler
    • +2
      jsayler  
    • ahonnet:

      However it is done, yes indeed, we need to know what our Congressional Representatives, our judges, our Supreme judges and our President is doing financially and politically because they are too often intertwined.

    • 6 months ago
  • sharin
    • +3
      sharin  

    • This edition of "60 Minutes" is mostly about GOP congressional members who have made money off of inside information. Af the end they through in a question to Nancy Pelosi about her and her husbands VISA holdings that they made a profit from (somewhere between $2500 and $5000 - a rather small amount to someone who's net worth is around $40million), an investment return that is completely legal, ethical and all smears of this previously debunked. With major credicard bills passed under Pelosis's time as Speaker, it is obvious that the family holdings held no sway over her leadership role. 60 Minutes told Pelosi's staff that they got this info from a book by a conservative writer Peter Schweizer. Schweizer is editor in chief of one of Andrew Breitbarts website tabloids, helped write glennBeck's "Broke", was a foreign policy adviser to sarah palin and a speech writing consultant to George W Bush.

      Shame on 60 Minutes for buying into this BS. What happened to their investigative acumen?

    • 6 months ago
  • Paratus
    • -4
      Paratus  
    • sharin:

      She and hubby evidently purchased about 2 million and realized somewhere in the neighborhood of a 200% profit on the sale. Just google it you will find it. Anyhow, in return for enriching the Pelosi checkbook by a not so small amount credit card reform was put off by a couple of years. YOu also might want to remember that Princess Pelosi, during efforts to raise the minimum wage, went along with that but submitted legislation that would have exempted Guam from this. Her hubby, at the time, owned a substantial amount of stock in a company there that processed tuna. Face it, she is a crook, no doubt about it.
      It seems that this type insider trading is not illegal but in my opinion certainly should be. Every Senator /Congressman who profits in this manner should be escorted out of town and out of Congress.

    • 6 months ago
  • jsayler
  • sharin
    • +1
      sharin  
    • Image
    • Paratus:

      from the rightwng netsite, Politico:
      Pelosi’s financial disclosure reports show that Pelosi’s husband has held the bulk of the Visa stock, selling off a small portion worth between $15,000 to $50,000 in late Nov. 2008. That sale yielded a capital gain of between $2,500 and $5,000. The Pelosis’ Visa holdings have paid the couple between $12,500 and $35,000 in dividends. For a woman worth a reported $40 million, that’s not a lot of money.
      Under House rules, lawmakers are prohibited from using their official position “for personal gain.” This ban includes instances when a lawmaker uses “his political influence, the influence of his position … to make pecuniary gains” or take any other official action that affects their own personal finances, the House Ethics Manual states.
      There is no precedent for the allegation that Pelosi, as speaker, would have blocked legislation from coming to the House floor.
      In addition, the House Ethics Committee notes that “ownership in a publicly traded company generally will not present a conflict of interest requiring recusal from voting” on legislation affecting that company. In that instance, lawmakers are treated as part of a “class” of investors rather than as individuals and are allowed to vote.
      The Pelosi’s holdings in Visa stock would likely not have been seen as significant in a company with hundreds of millions of shares outstanding.

      Read more: http://www.politico.com/news/stories/1111/67593_Page2.html#ixzz1dm6PA400

    • 6 months ago
  • sharin
    • +1
      sharin  
    • Image
    • Paratus:

      "just google it" - yep, did. I also googled the insinuation about Guam and the minimum wage - right to Snopes, which de-bunked the assusation:
      http://www.snopes.com/politics/pelosi/americansamoa.asp
      In fact - Pelosi made sure the American Samoa (which was originally excluded at the urging of their congressional representative) WAS included in the minimum wage.
      As for her husbands suposed stock in Starkist (or parent companyDelMonte/Heitz), none can be found.
      You also forgot to include the other lie that the wrongwing spread - that DelMonte contributed heavily to Pelosi. (from Snopes)"
      ..Even the conservative Washington Times observed that ...records show that whild Del Monte political action committee has given $5300 in the past five years to Republicans, neither they nor Del Monte executives have given to Democrats"

    • 6 months ago
  • Paratus
    • -2
      Paratus  
    • jsayler:

      "I don't know so much if we have allowed this to happen. We elect our representatives in good faith based upon the information presented to us. More often, it is happening that we are electing individuals who have the most money to spread their word (however misinforming, devious or out and our lies). We do not enforce laws that require truth in advertising; nor do we seem to actively care as a body of zombie sheep following their "profits." "

      I thought I would copy a paragraph from your post above.
      Are you suggesting that because she cares about the poor, the elderly, the infirmed and the otherwise disadvantage (your words, not ones I would choose when describing her) we should ignore the other?
      Assinine.

    • 6 months ago
  • Paratus
    • -1
      Paratus  
    • sharin:

      Politico, right wing! I know who founded it but it is far from a right leaning group. Just look at its coverage of Cain vs the scandals of the current administration.

    • 6 months ago
  • Paratus
    • -2
      Paratus  
    • sharin:

      It was a lot of news when it occurred and it did occur. Frankly, given the adoration and worship of the likes of Pelosi I don 't know why I even bring up facts here.

    • 6 months ago
  • crabbyoldguy
  • Cruzankenny
    • +1
      Cruzankenny  
    • Paratus:

      Politico was right wing; until they also showed some journalistic integrity by breaking the Cain story.
      Then, overnight, it became a liberal rag.
      Cain was the front runner, even through the sexual harassment charges. Because what a liberal's view of sexual harassment turns out to be, is a conservative asking for a date.
      But when he started really flubbing his interviews, which I think he did on purpose to get his ass out from under the magnifying glass and to save his marriage, the Right went into a feeding frenzy. Right wing radio ate him alive and spit him out. The man is done, stick a fork in that pizza.
      Now it's Professor Newts turn. How long he can stand the scrutiny and avoid bigoted statements, will tell the tale.

    • 6 months ago
  • Cruzankenny
    • +2
      Cruzankenny  

    • Combine that with the fact they get the finest health care insurance in the world, completely paid by taxpayers, and they can't pass a comprehensive Healthcare package for J. Q. Public.

    • 6 months ago
  • oldbanjo
    • +2
      oldbanjo  
    • Cruzankenny:

      Before I retired, I worked for DOD and with my Health Care Insurance I paid a portion and the Gov paid a portion, I think Congress works the same way. All Fed employs and Post Office are the same.

    • 6 months ago
  • Cruzankenny
  • oldbanjo
  • Cruzankenny
  • Cruzankenny
  • Cruzankenny
  • jsayler
    • +1
      jsayler  
    • Cruzankenny:

      Healthcare in the US has been ranked lower than some under developed countries in the World and our healthcare is run by a third party which has as its only interest, profit and executive compensation.

      Why is our healthcare so bad? Insurance companies eliminate coverage when people get sick--what kind of insurance is that? Sick system that pays an entire sector of our economy for doing nothing except collecting money!

    • 6 months ago
  • Cruzankenny
    • 0
      Cruzankenny  
    • jsayler:

      The insurance industry is like Las Vegas, except they get to change the odds whenever they want. If that means not renewing your policy because you're sick, that's what they'll do.
      Every time science identifies another gene that predetermines a greater risk for a disease, I cringe, because insurance companies will soon use genetic testing to determine your eligibility for certain types of insurance.

    • 6 months ago
  • sugarmountian
    • +2
      sugarmountian  

    • As long as theres a fake news network, and rush limpdick, it's going to be hard if not impossible to vote them out.
      New word for the day boys and girls. Can you say "revolution"?

    • 6 months ago
  • KB723
  • NiceN
  • KB723
  • KB723
    • +1
      KB723  

    • Holy Cow!!! I just found that you can click on the picture and it will take you to the video!!!! How Cooool is That????

    • 6 months ago
  • DEM46
    • +4
      DEM46  

    • I just watched this piece on 60 minutes. Damn it!!!

      I've come to the conclusion that most of these congressmen/women are pieces of shit.

    • 6 months ago
  • KB723
  • DEM46
    • +1
      DEM46  
    • KB723:

      Well, good point but note I didn't say all. There are a few who seem to care like the individual from my state who introduced the legislation that has no chance of ever being passed. Who would? if you're immersed in that multi-millionare turd pool.

    • 6 months ago
  • KB723
  • bikesRnext
    • +1
      bikesRnext  

    • Unconscionable, These lawmakers make me sick to my stomach. They should not be allowed to profit in excess as they are now. Thanks 60 minutes for the brave reporting. I hope to see more investigations like this one. Shines a bright light on the foundations of our country and how crooked it is.

    • 6 months ago
  • WagonMaster
  • KB723
  • coolplanet
  • KB723
  • coolplanet
  • KB723
  • coolplanet
  • KB723
  • Ambill94
    • +4
      Ambill94  

    • In case anyone was still thinking that the only bad guys were Repubs...maybe this opened your eyes. If George Washington had this figured out in 1795 or so, why has it taken all this time for us to get it? And what are we going to do about it? Occupy something and vote them out!!! There's only a small handful worth keeping in office.

      Great post KB!!

    • 6 months ago
  • KB723
    • +2
      KB723  
    • Ambill94:

      Thanks Ambill94 and as you may find on my profile page, My Political Bent is: Disenfranchised, I have felt that Both Parties are Corrupt... When I was Younger it never seemed this way, and now that I am paying attention, it seems they are at this time Shoving it in my Face!!!!

    • 6 months ago
  • Ambill94
    • +3
      Ambill94  
    • KB723:

      Yes and I don't wear it well. I have told my students for years that the political system in this country is corrupt and have given examples...but for years it was almost an intellectual abstraction...based on information that most people believed and yet very few were doing anything about...numbed by political apathy...and even now many still are...it boggles the mind.

    • 6 months ago
  • KB723
  • Ambill94
  • KB723
  • WagonMaster
  • Ambill94
  • KB723
  • Ambill94
  • Ambill94
  • KB723
  • Ambill94
  • KB723
  • QuietPlease
  • Dusty_King
  • Dusty_King
  • Ambill94
  • KB723
  • KB723
  • PressCore
    • +1
      PressCore  
    • KB723:

      Too bad that wasn't Pelosi there instead of the poor hapless pig. I realize
      once a creature's flesh tastes good to humans, they're doomed. But being
      an animal lover, and considering swine like Pelosi too distasteful for mere
      words...I nonetheless would have liked someone making an Aztec blood
      sacrifice out of her instead for that infamous remark: " Impeachment is off
      the table " Put her on a stone altar table instead with a lot of ceremoneous
      Mexican native Indians out for the taste of blood, with sharp knoves in their
      hands, and we'll see which one should be off the table.

    • 6 months ago
  • KB723
  • Leen61
  • KB723
    • +2
      KB723  
    • Leen61:

      Yes, and is there a need for government??? There's a gentleman in Italy that says folks don't need to vote any longer... Is the government really anything more than a Tool for the folks that can BUY their Votes???

      Man I got Dizzy writing that.... =(

    • 6 months ago
  • Leen61
  • KB723
  • dreamsenvoy
  • KB723
  • cherry5000
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