This is to be expected when considering how many ex-government employees end up working in the financial services sector. While in government they look after their 'partners' in the sector and by doing so ensure that they will have a nice cushy job the day they leave government. The revolving door they so often speak about.
So its a matter of you scratch my back and I'll scratch yours. Best of all, this is 100% legal. As mentioned in the article, the laws that are supposed to prevent these things are drawn up by the very people who are guilty of these things so what else can one expect. There is no way they will pass a law which will make their profiteering illegal.
Topic: The Oligarchy is official: Congress openly flaunts insider trading immunity (Read 423 times)
October 29, 2015, 10:25:02 AM
October 29, 2015, 10:06:58 AM
All markets are manipulated. The only thing we can do as peasants is go with the flow and try to profit. The best we can do in my opinion right now is buying Bitcoin and holding it long term, before the big big whales enter the game and skyrocket the price and start fighting against each other with their insider agendas. Unfortunately we cant stop manipulation on the free market, but we can stop the rest of scams associated with fiat currency thanks to Bitcoin.
October 29, 2015, 09:56:01 AM
While we tiptoe around the Internet careful not to offend the iron fist of the SEC with our newfangled "Internet money", Congress openly trades on the highest forms of Insider information with no consequences whatsoever.
http://www.activistpost.com/2015/10/12-days-before-08-crash-congress-was-secretly-told-to-sell-off-their-stocks.html
Many high-ranking government employees were given a heads-up about the impending market crash in secret meetings with the Federal Reserve and the Treasury Department. Then they used that information to engage in insider trading.
It was revealed that Senator Shelley Capito and her husband sold $350,000 worth of Citigroup stock at $83 per share, just one day before the stock dropped to $64 per share. Another shady trader was Congressman Jim Moran, who had his biggest trading day of the year days after the secret meeting, sellings stock in nearly 100 different companies.
These actions would be illegal for any American in any other circumstance, but members of Congress and high-ranking government officials are actually exempt from insider trading laws.
http://www.activistpost.com/2015/10/12-days-before-08-crash-congress-was-secretly-told-to-sell-off-their-stocks.html
Quote
Many high-ranking government employees were given a heads-up about the impending market crash in secret meetings with the Federal Reserve and the Treasury Department. Then they used that information to engage in insider trading.
It was revealed that Senator Shelley Capito and her husband sold $350,000 worth of Citigroup stock at $83 per share, just one day before the stock dropped to $64 per share. Another shady trader was Congressman Jim Moran, who had his biggest trading day of the year days after the secret meeting, sellings stock in nearly 100 different companies.
These actions would be illegal for any American in any other circumstance, but members of Congress and high-ranking government officials are actually exempt from insider trading laws.
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