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Forum Post: Congress: Trading stock on inside information? Seen on 60 mins

Posted 13 years ago on Nov. 14, 2011, 7:15 p.m. EST by StiffARM (3)
This content is user submitted and not an official statement

http://www.cbsnews.com/video/watch/?id=7388130n&tag=contentMain;contentAux

8 Comments

8 Comments


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[-] 1 points by number2 (914) 13 years ago

vote out incumbents

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[-] 1 points by GypsyKing (8708) 13 years ago

If this post is interpreted as a defense of Pelosi specifically, that id neither true or to the point. I have no Knowlege concerning her personal financial transactions. The point is to avoid taking us/them thinking to the point that it threatens to cloud our judgement/fracture our solidarity. I get a surprizing amount of resistance to this view, and a lot of insinuation that I am "fronting" for the "democratic cause" here, when the essence of what I'm saying seems really quite clear and readily comprehensible. The other point of what i'm implying, of course, regards the real motives of CBS, which are probably not a surprize to anyone here, but may yet be to new viewers of this forum.

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[-] 1 points by StiffARM (3) 13 years ago

I don't care about US vs THEM. I care about Congress making hedges or profit on the policies they vote for or agaisnt. For Pelosi to have $135M in assets she would have had to save her whole pay check $174K and get 12% interest every yr for 40 yrs. Plus I'm sure she wasn't making $174K back in 1960, 1970, 1980, 1990's. She's only made that kind of cash since about 2002. So where else does it come from???

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[-] 1 points by StiffARM (3) 13 years ago

I just went to opensecrets.org and I will say that you have to read it carefully. According to those statements she bought $1M-5M and only sold $15K-50K. It also doesn't talk about how she got into the IPO before it went public or about the $2M her hubby Paul Pelosi bought. If she still holds it today she would get over $70K a yr just in dividends. Plus it sounds kind of odd that she's worth over $135M and has a gov pension to boot! That shouldn't happen on a public servants salary.

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[-] 1 points by TLydon007 (1278) 13 years ago

This is incredibly blown out of proportion. These "insider trades" aren't what Steve Kroft is hyping them up to be. Anyone can go to opensecrets.org and see their holdings and see when they bought and sold them via Form A. Pelosi bought Visa high in June and sold low in November of 2008. The Boehner case is even weaker.

Sorry to be a downer, but you can all look it up.

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[-] 1 points by GypsyKing (8708) 13 years ago

Strange they would focus on Polosi, the most aggressive regulator of corporations in recent memory, don't you think?

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[-] 0 points by KahnII (170) 13 years ago

She has to distract everyone from her personal actions.

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