Congressman trading on insider information!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Discussion in 'Politics' started by Agassi, Nov 13, 2011.

  1. tortoise

    tortoise

    When I was a reporter on Capitol Hill, I used to trade that kind of info. all the time. You were an idiot NOT to. Defense bills were the BEST. But the whole appropropriations process continually served up actionable nuggets across-the-board. And then there was Ways & Means. Good times ...

    But that's not "insider information" as the law defines it.

    Law doesn't prevent from trading based on non-public knowledge of what a public enterprise like the government is doing. Just on non-public information of what a company is doing.
     
    #11     Nov 14, 2011
  2. Just curious, did you have your own account or did you use a broker? Reason I ask, I wonder if brokers followed your trades if they knew you were a reporter.
     
    #12     Nov 14, 2011
  3. tortoise

    tortoise


    I had my own account.
     
    #13     Nov 14, 2011
  4. RedDuke

    RedDuke

    Unfortunately, this is a sad reality. Who cares about this staff when more important things like Kardashian and the like is what most are talking about.
     
    #14     Nov 14, 2011
  5. maxpi

    maxpi

    Laws can't stop insider trading. Somebody with inside knowledge can simple tell somebody else to load up on some options and in turn receive a kickback in some untraceable form..
     
    #15     Nov 14, 2011
  6. Lucrum

    Lucrum

    It wasn't all that long ago it wasn't even illegal.
     
    #16     Nov 14, 2011
  7. pspr

    pspr

    Steve Cohen's bread and butter.
     
    #17     Nov 14, 2011