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Re: If you wonder how once elected to Congress people seem to become rich, this might explain it...

By: clo in FFFT | Recommend this post (0)
Mon, 25 Jul 11 11:23 PM | 83 view(s)
Boardmark this board | Food For Further Thought
Msg. 30976 of 65535
(This msg. is a reply to 30975 by oldCADuser)

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OCU,

Aren't they required to have blind trusts? clo




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DO SOMETHING!


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The above is a reply to the following message:
If you wonder how once elected to Congress people seem to become rich, this might explain it...
By: oldCADuser
in FFFT
Mon, 25 Jul 11 11:12 PM
Msg. 30975 of 65535

It seems that neither a member of Congress nor their staff can be tried for 'insider-trading' when it comes to anything which they learned while performing their official duties, which would include what they learn while sitting in committee or reviewing official documents submitted to or developed in Congress by their staff or other members of Congress. Now they are NOT allowed to share what they learn with anyone outside of Congress, and they are NOT allowed to act on information gained which was NOT the result of official activities, but everything else is pretty much fair game and there IS nothing that the SEC or Justice Department can do about it since Congress, by definition, cannot break any laws if the activity is the result of something which happened as part of official Congressional business.


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