Thursday, February 16, 2012

Congress is Full of Inside Traders

You know what happens if you or I get inside information on a business and then use that information to buy or sell  stocks in order to profit? We get in trouble and most likely end up in jail. You know what happens if Congress does this you know what they get? Rich.

In November 6o Minutes broke this story about Congress and their free pass on insider trading. They called it "political intelligence" and suggested that this is why Congress people enter office with regular bank accounts and leave office multi-millionaires.

That's right, members of Congress can legally use insider information on the inner workings of companies, up and coming business maneuverings and deals in order to profit.

Here is the original 60 Minutes story.

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