Abramoff Sings about Congressional Insider Trading

Love him or hate him, Jack Abramoff is out of jail and singing like a bird about how the political elite “legally” make money off of insider trading, while private citizen’s are run down with pitchforks for the same behavior.  Even if it were proven that a politician made money from insider advice through political legislation, they would not be charged with a crime.  The Stock Act H.R. 4188 was written in January of 2009, by none other than our own Representative Brian Baird (D-WA), and it has yet to come out of committee for a vote.  Now how is this equal justice under the law?  Shelly wonders why  the politically elite are tone deaf to movements like “the Tea Party” and the “Occupiers” who rise-up specifically because of this type of preferential treatment?

YiT,  Shelly

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Another great story dealing with the same subject will be aired on CBS, Sunday night, November 13, 2011 at 7:00pm ET/PT.  Here's a brief tidbit from the online story that should've been told many decades ago.  It's this type of disparity that keeps the law abiding citizen's from fully engaging in the political process, because we all know that thus far it's a rigged game and the only people who can fix this are the people.  As is said in the article; "Throw them All Out!"  We need moral, principled people in public office representing the "People", not the "Parties"!

Congress insiders: Above the law?

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(CBS News)  Martha Stewart went to jail for it. Hedge fund honcho Raj Rajaratnam was fined $92 million and will go to jail for years for it. But members of Congress can do the same thing -use non-public information to make stock trades -- and there's no law against it. Steve Kroft reports on how America's lawmakers can legally make tidy profits on information only they know, simply because they won't pass a law against themselves. The report will be broadcast on Sunday, Nov. 13 at 7 p.m. ET/PT.
Among the revelations in Kroft's report:
* Members of Congress have bought stock in companies while laws that could affect those companies were being debated in the House or Senate. Click here to read the full story.

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LiveJournal Tags: Insider Trading,Congress,Finance,Free Markets,Politics,SEC,Regulations,Abramoff,Jack Abramoff,CNBC Abramoff Interview