Preview: Insiders
November 11, 2011 10:09 AM
Steve Kroft reports on how America's lawmakers can legally buy stock based on non-public information.
Congress Insiders: Above the law?
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See all 37 CommentsComparison of this expose to the ethical failings chronicled in the Decline and Fall of the Roman Empire (Edward Gibbon) can provide insights that may allow us to escape the analogous Decline and Fall of the USA. This important story documents that the latter is in progress.
Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:"I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election. The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in1971...before computers, e-mail, cell phones, etc. Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land...all because of public pressure.Warren Buffet is asking each addressee to forward this email to a minimum oftwenty people on their address list; in turn ask each of those to do likewise. In three days, most people in The United States of America will have the message. This is one idea that really should be passed around.*Congressional Reform Act of 2011......
1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.
2.. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system,and Congress participates with the American people. It may not be used for any other purpose..
3. Congress can purchase their own retirement plan, just as all Americans do...
4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
5. Congress loses their current health care insurance and participates in the same health care plan as the American people.
6. Congress must equally abide by all laws they impose on the American people..
7. All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor,not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.
If each person contacts a minimum of twenty people then it will only take
three days for most people (in the U.S.) to receive the message. Maybe it is
time.
PLEASE PASS THIS ON
This is the kind of reporting that 60 Minutes was known for in the 1970's.
But watch your back, these politicians are so dirty, they may try to have you wiped out to protect their role in this ponzi scheme called the USA.
The only thing united is politicians, corporations, and the wealthy 1%.
They won't even allow the 99% to protest without arrests.
It's time for another American Revolution just like other countries are doing!
Let's kick out democrats, republicans, and the tea party.
The people need to run our own government...and NO we shouldn't fund Israel either!
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See all 37 Comments