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

Actually, the 1930s wouldn't have been so bad had it not been for govt meddling.

And everything that occurred in 2008 happened with regulation and because of regulation.

But even if regulation could cure the business cycle, the people who write the rules are the people like Barney Frank and Pelosi. It's like asking a fox to guard a hen house. All it does is breed corruption and crony capitalism.

 

I watched the program too, pretty much chuckled to myself because we all, Republicans and Democrats alike, had a good idea this unethical behavior was prevelant in Congress. I also agree that replacing them will not solve the issue, the poster Ironball has it better and that is too pass that bill, but the program did highlight, these same Congressmen still danced around these laws and worked things out.

I know this is not going to be popular but I think we have to do it.
1) Pay them to scale for their responsibiities, that means in the $Ms.
2) Open the spending books, of defense spending will have to make some concessions.
3) Ensure jail time, for that "unethical" behavior.

To me it seems if you want the best there is, we must pay them, otherwise I don't think this will stop. IMHO.

Okay I am ready for the counter args

 

Pelosi's 111th congress actually put Charlie Rangle in charge of the House Ways and Means....... the committee in charge of Tax Code and Law.

Charlie Rangle the tax cheat..........

 

Correct. Schweitzer did the work and it was wise for 60min to get out ahead of it the pack. Of course, as you could expect they led off with 3 rep's, but hey....at least they did a report.
Now, I would expect the LSM will follow like lap dogs digging up stories about this and they will feature 90% rep's, 10% dem's. We'll know soon.

 

Most interesting that CBS would run this now. Most of this has been journalistic low hanging fruit for years...so why now, with a crucial election in about a year.

I have never trusted CBS, beginning with their part in the Kennedy assassination cover up, the chemical lacing of cigarettes which they covered up and including the character assassination of George Bush.

In all, CBS was promoting it own interests...always

 

It wasn't the regulations that causes either the 1929 or 2008 melt downs. Both occurred because of a lack of regulations. Take a look at countries which did not follow the trend of the US in the 1990's...especially Canada. The banks in Canada have stringently enforced regulations and...the safest banking system in the world...

 

How dare you to use facts ???? Don't you know it is all Obama's fault?

 

While it is revolting, it has also been legal. Overall, we don't know how many have benefited, as surely many have, while also being "smart" enough to be more discreet, as in using relatives to invest/trade etc.

In the world of politics, anyone challenging such as Bachus would seem to have a pretty good political bat to swing against him, first in the primary, and then main election. Until a law is passed, that's about the only battleground for this stuff. The law won't necessarily stop it either, but it will make being caught far more egregious.

 

If they do as you say, they still have to approach the newly elected politicians who realise they only got the job for that very reason and if they in turn continue with the same policies will also be out on their ears.

The people really do have the power. They just don't know how to use it.

 

Then maybe I missed the part where the first person they showed was Princess Nanci and blanked out between the opening and when they showed her. My bad. I will rewatch tonight.

 

That's conservative republican logic for you. Watch the US crumple until you can get more corrupt republicans in office.

 

I dunno. I looked into the trading record of Bachus and he's just a very busy trader with LOTS of losing trades. He netted a profit but he churned like mad. His broker got rich, not so much him. Did he use inside info? Maybe. Did he use it well? Clearly not.

Boehner claims independence from all trading decisions. If he's lying....OUT! Obviously, CBS included him to give Whore Pelosi cover.

Pelosi is DIRTY AS THE DAY IS LONG. There's not a sliver of a doubt that filthy whore enriched herself AND she's a bad liar. I saw her apologia and it was pathetic.

 

This isn't news. There was news that Cantor was running a short position on stocks right before the Republicans decided to take the debt ceiling "crisis" to the 11th hour.

 

Well when every decision you make plays favorites, and manipulates the market in each and every industry, how could they not be benefiting from those decisions? Logic and common sense anyone?
　
　
Now if only they would go after corporate lobbying, campaign contributions and the politicizing of the USSC, we might be getting somewhere as to why the country is going to hell in a hand basket while the rich are getting richer because of it..

 

Sir your post is spot-on correct, good job. I agree 100%.

 

Anyone know for sure which congressmen have done this, and which ones have stayed away from this type of behavior? I would be interested to know if any of the candidates do any of this.

 

Thats gonna solve the problem

 

You want the list from the inception of the railroads and go right up to where they determined which banks would be allowed to survive??

 

Hahahahahahahahaha... ha. That's too funny.


Neo-con artists done had their turn at bat. They are responsible for bringing us the new democrats. Big fail that was.

 

Current politicians making money from the stock market because of the rules and regulations they voted for/against or pushed through.

 

While we argue Right vs. Left, Republican vs. Democratic issues here at PF, politicians on both sides of those divisions have a higher, non-partisan agenda - namely, the acquisition of wealth and power. This is yet another reason I became an Independent. I couldn't stomach identifying with either of these two hypocrisies, given the real nature of their pursuits.

 

You honestly believe they are not all doing it one way or another? Either on their own or by proxy. Really, you need a list??


The majority of these political con artists didn't take a pay cut because they really cared about public service, or do you honestly believe they did?

 

This thread turned into a partisan circle jerk by all the usuals. What a waste of space some of you are.

 

I actually believe some (very few) are really there to help the American people. What is so wrong for asking for a list of those who do or don't profit from the rule they make. Personally themselves, not the constituants (SP).

I never thought they did. But if you want to go on hating them all, instead of recognizing those that did right by the people, that is your choice. I want to know if anyone them have kept to the ethics and morals most Americans have and didn't participate in this type of behavior before I condemn them all.

 

Nancy Pelosi
Barney Frank
Chuck Schumer
etc