Monday, November 14, 2011

Corruption in our Gov't.

Last night, on CBS's "60 Minutes" program, another layer of the corruption in our gov't. was revealed.
Insider trading of stocks is against the law and punishable by a fine AND jail time.
This applies to everyone of us with the exception of our Congress.
In the "60 Minutes" exposure, several of our Representatives were challenged about stock trades that they made immediately after receiving INSIDER INFORMATION.
If a company were to give a Congressperson a gift of (let's say) $10,000 to vote for (or against a bill that might favor that company), that would be against the law. However, if a company were to inform any of our Representatives or Senators about a coming development and they could then place stock trades accordingly, that would be legal.
Haven't you ever wondered how someone is elected to Congress with a net worth of a few hundred thousand dollars and ends up becoming a multi-millionaire ?
A bill is presented every session to disallow this. That bill has only six (yes 6) members of Congress that are supporting it. The bill is immediately thrown out for that session.
If you saw the program that I'm referring to, Nancy Pelosi is caught by surprise when asked about the $1 million that she and her husband made on such an insider trade. She is at a loss for words...........BUSTED
Meanwhile, the rest of us are forced to lose money in our 401K and other retirement plans while Congress is raking in millions of dollars towards their net worth.
This is just one of the corruptions taking place in our gov't. No wonder we're listed as the 5th most corrupt country in the world.

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