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Forum Post: Members of Congress trade in companies while making laws that affect those same firms

Posted 1 year ago on June 25, 2012, 10:37 p.m. EST by Umong (0)
This content is user submitted and not an official statement

Pigs in the trough

One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, a Washington Post analysis has found.

The lawmakers bought and sold a total of between $85 million and $218 million in 323 companies registered to lobby on legislation that appeared before them, according to an examination of all 45,000 individual congressional stock transactions contained in computerized financial disclosure data from 2007 to 2010.

http://www.washingtonpost.com/politics/members-of-congress-trade-in-companies-while-making-laws-that-affect-those-same-firms/2012/06/23/gJQAlXwVyV_story.html

2 Comments

2 Comments


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[-] 2 points by HempTwister (667) from Little Rock, AR 1 year ago

There are a few around. A grocery in Iowa, I think. Great stores. Employee owned. How about a fund to let the employees buy a factory that is closing? That would be a good start. I just don't believe that American workers are too stupid to be involved in management decisions. Unlike the union haters. Fire your CEO if he is sucking and hire a new one. If GM had been able to do that...

[-] 1 points by writerconsidered123 (344) 1 year ago

is that news?