Members of Congress profit from stock trades in companies affected by their legislation
2012-06-29 0:00

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 paperís 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 lawmakersí 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

Anglo-Saxon Sword and Helmet from Staffordshire Hoard Reconstructed
2015-05-29 0:49
Thousands of metal fragments from the Staffordshire Hoard have been reconstructed into two "significant" new 7th Century objects. Researchers have pieced together parts of a silver helmet and a previously unseen form of sword pommel. The hoard, which is valued at £3.2m, was found in a field near Burntwood, Staffordshire in July 2009. Both items have been put on display at Birmingham's Museum ...
ALEC corruption: Legislators and corporate lobbyists meet in secret at Savannah resort
2015-05-28 23:59
The Georgia Legislature has a message for voters: don't ask us about our meetings with corporate lobbyists behind closed doors. The 11Alive Investigators tracked lawmakers to a resort hotel in Savannah last week, where we observed state legislators and lobbyists mingling in the hotel bar the night before they gathered in private rooms to decide what new laws would best serve ...
Swedish politician: US is the true cause of the masses of refugees from the Middle East
2015-05-28 20:13
Editors Note: And who controls US foreign policy? Listen to Jeff Gates. The present Swedish debate about war refugees from the Middle East is an example of peer restricted expression. In the name of political correctness or perceived decency, any questioning of maximum generosity in opening Swedish borders for the refugees is indignantly rejected by the official mainstream. We have a ...
Even if Patriot Act Expires, Government Will Keep Spying on All Americans
2015-05-28 19:52
Government Will Use "Secret Interpretations" to Get Around Legal Prohibitions Mass surveillance under the Patriot Act is so awful that even its author says that the NSA has gone far beyond what the Act intended (and that the intelligence chiefs who said Americans aren't being spied on should be prosecuted for perjury). Specifically, the government is using a "secret interpretation" of the ...
The TPP, Monsanto, Rockefeller, Trilateral Commission, Brzezinski
2015-05-28 19:18
All hands on deck for global, economic, corporate dictatorship There are dots to connect here. They're real, and they're spectacular. Let me begin with a brief exchange from a 1978 interview, conducted by reporter Jeremiah Novak. He was speaking with two American members of the Trilateral Commission (TC), a group founded in 1973 by David Rockefeller and his intellectual flunkey, Zbigniew Brzezinski. NOVAK: ...
More News »