"60 Minutes" blows the lid off Congressional insider stock traders!

It points out the unethical, but barely-legal (?) routine activity of Congressional insiders -- both Democrats and Republicans. It shows WHY the government of "we the people" never listens to us, cares nothing about what we want or need, and never responds to our calls and messages when we try to get their attention. They're too busy making money and gathering power for themselves. If this doesn't make you want to puke, nothing will....

Here's the transcript from Steve Kroft's "60 Minutes" story: http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-inside-information/

And here's the actual segment as it aired on CBS last night, November 13th: http://www.cbsnews.com/video/watch/?id=7388130n&tag=contentBody;storyMediaBox

 

Doesn't surprise me that they led off with corrupt Princess Nanci. And of coarse she is oblivious to the charges she is being faced with.

 

They did not lead off with her. They actually went after 3 Repubs first, to include Boehner and Hastert.

 

[ame="http://www.youtube.com/watch?v=W2dQ-n8L2Y0"]Barney Frank: "The Smartest Guy In Congress" - YouTube[/ame]

 

Then we should throw them out and replace them with new Republicans.

 

Saw this. Was a very interesting program. Everybody in Congress is just there to line their own pockets. Can't blame them though, who doesn't want to make money?? Also, shows that a "throw the bums out" program never works because all the new bums will just start doing the same thing.

 

If you can't beat them, join them?

 

Actually the lid is being blown off by the release of a book by a Conservative,

I give 60 Minutes credit for also picking up on it, but Schweitzer's book was the motivation, and not 60 Minutes doing its own work.

 

How about just plain new people?....

 

It would seem:

 

There is no such thing as "plain new people". For 215 of the 223 years this nation has been around there were political parties. The idea of some "citizen cane" arising out of society is simply impossible.

Any changes we make will have to be made within the Republican Party.

 

Good. About time someone wrote or started showing these people for what they are.

This is the most raw form of insider trading there is. The people trying to pass legislation have a direct affect on the industry they want to regulate and it should be 100% illegal for members of Congress to trade any stock while in office period.

It would be the highest state of ethics created, but the problem is how do you get the swindlers themselves to pass such a law???

 

Not so.

As I have mentioned before, never vote for an incumbent. It then creates a complete new type of politician in both houses and reminds them that if they act in the same way as the previous lot, they too will get their comeuppance at the next election.

Finally they will get the message that they were elected to act for their constituents and not for themselves.

 

I was surprised that nobody had started a thread on this "60 Minutes" presentation, so I did, and I tried my best to arrange the thread without any political bias, even though I'm a right-wing Conservative.

It's like a cold, hard slap in the face, and it made me feel even more bitter, cynical, and alienated from "my" government than usual -- which is nearly ALL the time. What a ride! In the past ten years especially, we've had every disappointment from "W" Bush to Barack Obama, and all these rotten bastards in Congress from both political parties, and then we get revelations like these in "60 Minutes". It makes you wish a giant asteroid would land right on top of Washington D. C. when all of these crudballs are in town....

 

No, the solution is to change the law but that will never happen because the vast majority of Americans don't vote and don't even know this is going on.

Throwing them out doesn't work because then they just go down the street and start working for the lobbying firms.

 

That's a beginning but it will simply happen with the next guys.

No, the only way to end this personal enrichment scheme is to push for congress to take up the H.R. 1148 bill that not many congress people wanted to support.

Further, something has to be done about the revolving door of congress to lobbyist of congress people and staff.

It is happening on both sides, but remember Pelosi's 'drain the swamp" promise?

“Drain the swamp we did, as this was a terrible place, We made a tremendous difference, and I take great pride in that" - Nancy Pelosi

 

The have been doing this for a while and as a matter of fact Pelossi wanted to outlaw this practice but the bill got filibustered by republicans in Senate.... Still this fact doesn't mean that any self-respected conservative should poke a stick at Pelossi. Facts are for suckers!

 

Congressional insider stock trading??? I'm shocked. Stunned, in fact. If I didn't know that insider trading was the way the world has always worked, I'd be aghast.

 

In a sane world, the people outside OWS would be occupying Barney Frank's front lawn.

 

Or Reagan's grave.

 

What for? If it would be for him and his alike bankers and politicians who do this would be in jail as of yesterday.

 

The more power congress has, the more corruption there will be. The more of a mandate they have to 'regulate' there more money will pour in.

The only way to drain the swamp is to rewrite our tax code and throw out a large chunk of federal code and keep those who wish to command the market out of office.

 

Heh, good point. In a sane world he'd be in jail.

 

Pelosi has made millions in insider stock tips and land deals for herself and her family.......in particular her land developer husband.

 

We all know that markets regulate itself very well, just look at Roaring Twenties and all the prosperity of 1930s.