Posted by: Simon Lack | November 14, 2011

Get Elected and Legally Trade on Inside information

60 Minutes ran a piece last night revealing that Congressmen are not only exempt from the insider trading laws that apply to everyone else but also routinely exploit inside information to which they have access. That’s right, members of Congress can and frequently do profit from inside information, and it’s perfectly legal. Further description hardly seems necessary – you just have to believe that the leadership will be sufficiently embarrassed by the report that they’ll correct this glaring abuse swiftly.

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