“President Barack Obama Wednesday signed the Stop Trading on Congressional Knowledge (STOCK) Act nearly five months after CBS’s 60 Minutes report on how some members of Congress had been profiting from financial trades based upon undisclosed Congressional knowledge, commonly referred to as insider trading…
You wouldn’t think Congress would actually need a law banning themselves from trading on inside political information, but it turns out they do because there is a pervasive “cultural problem” penetrating Washington, D.C. “It’s not about the money, it’s about a sense of entitlement,” says Peter Schweizer, author of Throw Them All Out and the centerpiece of the 60 Minutes expose. “It’s a sense of ‘I deserve to have more and the rules don’t apply to me.'” Here is a direct link.
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