Congress: Trading stock on inside information?
11/14/2011
2 Comments
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Authors
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Michael Whitehead CFA CFP®
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Dennis Hutchison, CFP(r)
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Michael Whitehead CFA CFP®
Dennis Hutchison, CFP(r)
I saw that last night — and just read something on the Huffington Post that said the hits against Boehner and Pelosi really aren’t as bad as the report made them sound. The real insider deal maverick is Eric Cantor.
Thanks for the comment John! Do you have a link to that story?
Regardless of any individual act, the fact that Congress is exempt from insider trading rules is baffling. It just doesn’t make sense that those privy to the most powerful, market moving information in the world are the select few that have the ability to trade on it.
In my view this is an apolitical problem. The bigger issue is the conflict of interest and the resulting undermining of trust in the republic.