Members of Congress profit from stock trades in companies affected by their legislation
2012 06 29

By Muriel Kane | RawStory.com

An analysis by the Washington Post has determined that between 2007 and 2010, 130 members of Congress or their families engaged in hundreds of millions of dollars of transactions involving stock in companies that were lobbying before their committees.

This practice is neither illegal nor forbidden by Congressional ethics rules, which allow members to act in ways that benefit themselves as long as they are not the sole beneficiaries.

The paper’s researchers examined all 45,000 congressional stock transactions revealed in financial disclosures over the four-year period and found that almost one out of every eight involved companies affected by bills that were before either Congress as a whole or the lawmakers’ committees at the time.

[...]


Read the full article at: rawstory.com







Related Articles
Study: Grade Level Of US Congressional Speech Declining
Obama Has Authority to Override Congress to Declare War: Def Sec Leon Panetta
US Congress pushes to raise reward for Joseph Kony


Latest News from our Front Page

Chess-playing computers may cause the robot apocalypse
2014 04 23
Sore-loser chess programs might be the end of us all... In the movie The Terminator, we heard the human side of the story of Judgment Day, with the machines getting smart and seeing us as a threat. It wasn’t until the sequel that we heard the tale from the machine’s point of view, as it chose to start World War III ...
Archeologists’ findings may prove Rome a century older than thought
2014 04 23
It is already known as the eternal city, and if new archeological findings prove correct Rome may turn out to be even more so than believed until now. Next week, the city will celebrate its official, 2,767th birthday. According to a tradition going back to classic times, the brothers Romulus and Remus founded the city on 21 April in the year ...
Swedish MP ordered chemtrail probe
2014 04 23
A Swedish MP who launched an official government investigation into the existence of chemtrails tells The Local why he thinks Swedes deserve the truth, even if it may leave some conspiracy theorists unsatisfied. "I can’t speak for other MPs, but I’ve had many, many calls over the past eight years about chemtrails. And these questions are not so easy to answer," ...
Mystery of Bizarre Duck-Like Ocean Sound
2014 04 23
If it quacks like a duck... it’s not always a duck. Scientists have reportedly gotten to the bottom of the mysterious ’Bio-Duck’ sound in the Antarctic. Here’s a recording of the strange sound (it’s kind of a stretch to say it sounds like a duck, but who are we to second guess the biologists?). --- Mystery of Bizarre Duck-Like Ocean Sound Solved By Tanya Lewis ...
’Extreme’ Carbon Dioxide Reduction will be a Death Sentence for Humanity & Planet Earth
2014 04 23
If we allow a fraudulent pseudo-environmentalist cult to control every aspect of our lives then our children are doomed to a totalitarian existence which Stalin could only have dreamed of. “The common enemy of humanity is man. In searching for a new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine ...
More News »