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Monday, November 14, 2011

Report: Is Congress Trading stock on inside information??!

60 Minutes recently did a documentary on how members of Congress can legally trade stock based on non-public information from Capitol Hill. To some its old news, but to others its a wake up call about how absolutely CORRUPT our government has become. As the report discusses, Congressman get a "pass" on insider trading and that is the reason they seem to be particularly good at trading stock.

Congressman have unparalleled access to the non-public information that affects the market and they legally capitalize upon that information.

I'd like to call for a system of checks & balances to be put into place to eliminate unethical practices like this but I know better. I know better than to ask for such a thing because I'm not sure I would write a law that makes it possible for me and my closest to go to jail for doing something 400 other people have been getting away with. Does this make me a bad person? Does it make the corruption ok? I think not. Does it mean American greed is alive and well? Does it mean I want my piece of the proverbial pie? You can bet your bottom dollar that the answer to both questions is YES.

I digress...

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