Congressman Baird - Investigation on Day Traders on Majority Report now!

[IndyOp]

Baird was on Thom Hartmann a few weeks ago talking about the 'loophole' that allows people to legally make investments using information from inside Congress.

It is against the law to get information from inside a company and use that to make money on the stock market.

Not illegal to get information from inside Congress and use that to make money on the stock market.

:kick:

[aquart]

1. WHAT????

Dear god, why didn't the constitution include a clause sending all elected representatives to jail immediately following their terms of office?

[babylonsister]

3. Here, aquart, if you haven't seen this:

Rep. Slaughter, Dems want probe on 'DAY TRADING' allegations


Edited on Thu Jan-19-06 01:49 PM by babylonsister

Democrats want ethics committee to probe 'day trading' allegations

http://rawstory.com/news/2005/Democrats_want_ethics_com...

After a comment by Rep. Louise Slaughter (D-NY) on Air America's Majority Report Wednesday evening, RAW STORY has learned that House Democrats are pushing the ethics committee to investigate allegations of congressional offices providing privleged information to Wall Street investors.

On Air America, Slaughter alleged that "day traders" in the offices of Senate Majority Leader Bill Frist (R-TN) and former House Majority Leader Tom DeLay (R-TX) had aided such investors. She mentioned as a specific example that individuals got advance notice that an asbestos bill was not going to emerge from the Senate (Audio here).

An article that ran below the radar in November revealed the "day trading" practice, in which little-known firms use sources in Congress to glean information relevant to publicly-traded stocks. As Washington turns its eyes to fallen conservative superlobbyist Jack Abramoff, new focus has come to other allegations of congressional wrongdoing.
more...

[Gabi Hayes]

2. dammit! just missed it, but Krugman is on next

maybe OReilly will call in and threaten to beat him up, like he did with potato boy

[IndyOp]

4. Did you hear that last bit - rumor is that Newsweek is working on

an article about the day traders... :shrug: