Sunday, June 24, 2012

REPORT: Huge Number of Congressmen Trade in Stocks in Companies on Bills

One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, reports WaPo.

Almost one in every eight trades (5531 in all), during the period studied, made by members of Congress intersected with legislation. This, my friends, is real insider trading.

More than a dozen lawmakers contacted by WaPo defended the timing of their trades and the legislation before their committees as coincidental and said they did not know that the companies they traded were registered to lobby on bills they were considering...Some said their spouses handled their investments.


  1. Come on Mr Wenzel, don't you know there is honest graft and dishonest graft? [sarc]

  2. Surrrre they didn't. And frogs fly in the wind and pink elephants jump over rainbows.