Steve Cohen summed up his predictions for the coming year in one word in his end of the year letter to investors: “reasonable.”And last year, accordingly, was, “strange.”
The Senate on Thursday sent the White House a bill to explicitly ban members of Congress, the president and thousands of other federal workers from profiting from nonpublic information learned on the job.
Foxes have been found guarding hen houses on Capitol Hill in the past, but ethics investigators now believe they have identified a particularly greedy one. Rep. Spencer Bachus, chair of the House Financial Services Committee, is being probed for possible violations of insider-trading laws, reports the Washington Post. The investigation of […]
WASHINGTON (AP) — A recent poll indicates that a majority of Americans favour dumping every member of Congress. Now, the Senate is trying to restore a measure of trust by passing legislation to ban insider trading by lawmakers.
[credit provider=”Flikr” url=”http://www.flickr.com/photos/medilldc/5369711291/sizes/m/in/photostream/”] In an interview with 60 Minutes’ Lesley Stahl, House Majority Leader Eric Cantor pledged to move forward with a bill banning congressional insider trading early next year.”We wanna make sure that the public understands we abhor that kind of conduct,” Cantor said. “We’re gonna build on the […]
The Senate Homeland Security and Governmental Affairs Committee voted on Wednesday to bring a bill banning members of Congress and their staffs from engaging in insider trading closer to passage.
The House Financial Services Committee canceled a scheduled “mark-up” of a bill to ban congressional insider trading last night, amid concerns that the committee’s chairman, Spencer Bachus, was moving forward with the bill to take the heat off his personal political troubles.
[credit provider=”Wikimedia Commons / www.flickr.com/tracy_olson” url=”http://www.flickr.com/photos/tracy_olson/61056391/”] Last month, ’60 Minutes’ blew open allegations of long-standing insider trading practices by members of Congress, sparking a national debate about lawmakers getting rich off the people they serve.The Senate Homeland Security and Governmental Affairs committee is holding a hearing today into ways to […]
In an interview with Fox News this morning, Sen. Joe Lieberman (I-CT) said that the Securities & Exchange Commission believes that under existing law they can prosecute lawmakers who trade on insider information.
[credit provider=”Wikimedia Commons”] Massachusetts Senator Scott Brown emerged as Washington’s latest anti-corruption crusader this week, introducing a new bill that would put a stop to the apparently rampant insider trading by members of Congress.The legislation, known as the STOCK Act, is limited to active trading. Under its provisions, members and […]
U.S. Senator John Kerry is pushing back hard against a new book accusing him of engaging in so-called Congressional insider trading, using his powerful position in the Senate to reap huge financial rewards.
Rep. Spencer Bachus (R-AL) is denying claims raised in a new book and a ’60 Minutes’ report that he engaged in insider trades using information he obtained in his position as the Ranking Member of the House Financial Services Committee in the midst of the 2008 financial crisis.
this week over Throw Them All Out, Peter Schweizer’s explosive new expose, which pulls back the curtain on the appalling frequency of ‘legal’ insider trading in Congress.
Are Americans finally so disgusted by Congress that they will rise up and smack them? Governor Rick Perry thinks so. Hoping to tap into voter frustration and to put his notable gaffes behind him, Perry has proposed chopping salaries for members of Congress. By half!
Newly — and fiercely — critical of using public office for personal financial gain, Gov. Rick Perry this week unveiled a campaign ad demanding that lawmakers who use “insider knowledge to profit in the stock market” be jailed, and he rolled out an overhaul plan of the federal government that […]
Almost no one is willing to speak up in defence of lawmakers trading stocks based on knowledge of non-public information about public policy.
[credit provider=”New York magazine”] The SEC has been probing SAC Capital over trades one of its units made in Cougar ahead of the company’s takeover by Johnson & Johnson for over a year, according to a report in the Wall Street Journal.
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