need to add title here

What counts as "inside information"?

November 13, 2011 4:02 PM

Peter Schweizer of the Hoover Institution says the most valuable intelligence is often traded behind closed doors.

Congress: Trading stock on inside information?
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by webboy101 June 17, 2012 11:06 PM EDT
How can we have a society where we have a set of rules that get thrown in jail for the actions these politicians do on behalf of representing us, but they walk around freely with impunity...

Our society is corrupt and not working. When will we have democracy restored in this country.
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by webboy101 June 17, 2012 10:53 PM EDT
Our democracy is at stake. When we allow politicians to make rules that include profiting from making law, effectively our government no longer represents the people that elected them. These politicians now universally represent Corporate America (Including the banking system and oil companies).

The politicians stand before us, lie and thief from the tax paying public giving Corporate America (The banking system and oil companies etc), corporate welfare at our expense. The system is so corrupt, your politicians are effectively corporate ****** that sell their soul in the name of power and making money.

Nothing will change until the people rise up and throw these people in the streets. The political system is not only disgusting, it is an insult to our integrity to suggest that we really have an ethical political system.

These very people will destroy our democracy and our economy with their drunken sailor spending sprees with taxpayer money. We should all refuse to pay taxes. My taxes were not meant to support oil companies and banks. Watching this program made my blood boil. These politicians evade any sense of decent rules that are ethics with their special rules to profit and corrupt our political system.
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by RAMrider_TM March 13, 2012 3:13 PM EDT
P.S. Several weeks ago I wrote a petition for MoveOn / SignOn concerning the STOCK Act and really need more signatures! My main concern is that insider-trading changes the meaning and value of Markets and Capitalism. My petition is at signon.com at: <http://signon.org/sign/outlaw-congressional?source=c.fwd&r_by=1364935> Thanks. Pat Thompson
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by djdrew103 March 11, 2012 9:21 PM EDT
That's the point...it "IS" illegal!

The laws merely are word related to other members of society. When have laws such as murder or theft been required to specifically address absolutes as to who they apply. So to are the laws on insider trading.

Do insider trading laws have to be written that explicitly define that they apply to priests, janitors, bus drivers or bakers?

Why are laws required to detail that they apply to the law makers themselves?

When did our legal system state that congressional members or legislatively endowed and privileged persona be exempt from the laws of our land?

Is our system not designed with the ancient motto that "law is not true law unless even the King himself is also subject to the law"?

Here is where our Supreme Court has overstepped their power and boundaries, in defining the law or merely misquoting our laws and their original intent. The letter of the law is not law, the heart of the law is what we must be governed by.
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by maxForce2 December 2, 2011 7:24 AM EST
It may be legal (corrupted legislation) but it is not legitimate
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by flylooper November 18, 2011 2:14 PM EST
Disgusting.

I dispair.
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by coastal-clearing November 17, 2011 5:05 PM EST
"60 Minutes" story on the Stock Act was a breath of fresh air...you told us the reason Congress continues to protect Wall Street.

Would CBS consider starting the number of days since the "Stock Act"
Rep. Slaughter and Walz presented has been stalled in Congress?
This would be so important to our country...help us remember.

As you did after 9-11...how many days since 9-11.

Thank You! CBS is number one!
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by consumersgovern November 17, 2011 3:14 PM EST
These are the kinds of things that we need to change in how are government is run.
The rules that the politicians must follow have to change or we will continue to get cheated by politicians.
Nothing will change until we ban together and force the tail to stop wagging the dog.
google consumersgovern and you will find an organization that is truly trying to make things better for all U.S. citizens.
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by pereirjb November 17, 2011 12:03 PM EST
Congress license to steal,others go to jail.
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by DozerB November 16, 2011 11:27 AM EST
Excellent start. Why were almost all of your videos pulled the first day on this subject? Perhaps there is more to this story we should know. I believe this law was passed and became legal in the Clinton era administration to quash the Whitewater investigation. I think it also extends to the White House and appointed officials and family members. It is clear that it serves personal financial interests not those of the people and must be stopped. We deserve to know the truth and please replace the videos for the sake of the rest of us. Please follow this story with more investigation. It is also true that insider trading is allowed on the Commodity exchange. This has an immediate affect on food and fuel and other things we buy every day. Why are weather derivatives sold on the Commodity Exchange? Commodity trading should only be allowed for those with a direct use or industry related interest not speculators. Government should serve the people not the personal or special interests of Politicians or Corporations.
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