(vid) Congress & Insider Trading!??!

Is such a thing even possible? I thought that it seem logical that people in Congress, like people in banking, were severely restricted in what they can trade? I guess not.

http://www.cbsnews.com/video/watch/?id=7388130n

 

Definitely possible and definitely happens. If you Google it, there are some stats on a Congressman's average ROI vs. the S&P. Huge difference. There's a reason most of these guys are millionaires, and it's not because they are the sharpest tools in the shed.

MM IB -> Corporate Development -> Strategic Finance
 

Congressman gets the hint that his constituents want more defense spending

Said congressman makes the issue public

Defense lobbyist approaches congressman

Congressman is offered incentive (stock, option, whatevs) to support said defense company

Law is passed, tanks are ordered, shares of defense company rise

Presto, bango, markets are beaten

** this can apply to ANY industry. Bill Maher has a bit about this, I'll post it if I can find it.

Get busy living
 
Best Response
cold pizza:
please don't post anything by Bill Maher.

Guy is a chode.

Who cares? If he makes at least one point you agree with, you should be able to watch it and enjoy the humor. This is seriously a really ignorant way to live and shows you why people in this country can't get along.

looking for that pick-me-up to power through an all-nighter?
 

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