[P2P-F] [Insider trading laws]: If you are a member of Congress, those laws are deemed not to apply, "

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http://www.cbsnews.com/8301-18560_162-57323221/congress-insiders-above-the-law/

"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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