and Video excerpt : http://www.cbsnews.com/video/watch/?id=7387288n ps: Just noticed that poor richard ( on this list ? ) already republished such information on his blog http://poorrichards-blog.blogspot.com/2011/11/congress-insiders-above-law.ht... On Sun, Nov 27, 2011 at 1:24 PM, Dante-Gabryell Monson < [email protected]> wrote:
http://www.cbsnews.com/8301-18560_162-57323221/congress-insiders-above-the-l...
"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. "
"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."
"[Insider trading laws] apply to corporate executives, to Americans...If you are a member of Congress, those laws are deemed not to apply," he tells Kroft. "It's really the way the rules have been defined...[lawmakers]have conveniently written them in such a way as they don't apply to themselves," says Schweizer.
Efforts to make such insider trading off limits to Washington's lawmakers have never been able to get traction."
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