FBI Insider Trading Probe Targets Senator Grassley’s Aide

[question everything]

Source: International Business Times

As part of a widening insider trading probe that involves the U.S. Congress, the Federal Bureau of Investigation is trying to determine if an aide to Sen. Charles Grassley’s played a part in illegally divulging a key government decision to private corporations this spring, the Wall Street Journal reported on Monday.

Congressional aides are rarely targeted in federal probes, as the official duties of legislative-branch employees are protected under the Constitution.

Separately, the Justice Department sent Grassley’s office a letter last month, seeking information on Rodney Whitlock, the same health care aide targeted by federal authorities, the Journal reported, citing an unnamed source with knowledge of the matter.

The spotlight fell on Grassley’s staff after Height Securities published a research report on April 1 that led to a surge in health care stocks. The report correctly predicted that the government would retain certain medical payment rates instead of cutting them as previously announced. The report came out 18 minutes before the U.S. Centers for Medicare & Medicaid Services, or CMS, announced the changes, according to a Reuters report.



Read more: http://www.ibtimes.com/fbi-insider-trading-probe-targets-senator-grassleys-aide-1300455#

[mtasselin]

1. believe

I can't believe that the FBI is going to do something about wall street, next you are going to tell me that they are going after the gangsters and banksters. That would be such a great idea, I can only hope that it catches on, no wait did anyone tell Eric Holder about this because I am pretty sure he would stop it.