Getting financial insider information for personal financial gain (i.e. in the stock market, etc) is illegal in the United States...unless you're in Congress that is. Or at least that's the way it is now. Somehow, a loophole in the 'anti-insider-trading law' permits the gain or giving of the knowledge that would give an insider a "leg-up" in the competition...in this case, the "insider" would be a Congressman. The loophole? Current clauses in the laws pertaining to this subject matter exclude the giving or receiving "nonpublic information about current or upcoming congressional activity", this only works due to the fact that Congress members arent exactly obligated to keep such information confidential.
There is currently a bill that people are trying to get passed in an attempt to stop this. A peice to the idea behind this bill says that it would "require members of Congress and employees to report the purchase, sale or exchange of any stock, bond, or commodities future transaction in excess of $1,000 within 90 days."
One possible problem that this bill would face? The bill has to be passed by Congress before it can move on to be eventually (hopefully) passed. Congress...the very people who this bill is designed to stop from making additional money on the side.
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