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Congressional Insider Trading Gone Wild
Back in May we penned, "Why A Hedge Fund Comprised Of Junior Congressional Democrats Should Outperform The Market By 9%" in which the simple conclusion was that insider trading is not only rampant in Congress, but completely unregulated, as it is perfectly legal for Congressional staffers to trade at their leisure on inside information: an exemption which the beta chasing 2 and 20 crowd on Wall Street would sell their first through fifth born to be granted, now that their glaring inability to generate alpha is laid out for all to see. Tonight we were happy to see that 60 Minutes has finally brought this gross and criminal injustice to the general public, and we expect that Congress will promptly legislate itself into actually complying with laws meant for the mere mortals out there. That said, we fully commiserate with the pathological excrement that makes up House of Representative these days: it is indeed a sad day when a Congressional member has to rely on honest work to make their millions as opposed to perfectly legal trading on inside information predicated upon laws that these very congress men and women legislate. Something tells us all the world's banana republics are just staring at the US with sheer and utter amazement as layer after layer of the unprecedented depravity of American society is exposed for all to see.
From 60 Minutes - the part where Nancy Pelosi's face melts is 9:20 in. And speaking of Nancy Pelosi it may be time to revisit: " Moody's Leaked Again: Told Nancy Pelosi Will "Probably Not" Downgrade US Weeks Ago; Did Her Multi-Millionaire Investor Husband Know Too?" and "SEC To Investigate Trades Based On S&P Downgrade Inside Information"... We wonder just how deep the SEC investigation has penetrated for it to have generated not even a peep 3 months later.
And transcript:
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http://www.truth-out.org/department-defenses-unending-nightmare-pass-audit-2017/1317146062
I'm going to say something chilling. I think a very powerful someone who owns the media is endorsing this to deliberately foment serious unrest in this country. And they're doing this because it's part of their overall end-game agenda. Particulary one of which they will profit from tremendously.
yep, bro...
youre quick...
this pots been gettin' stirred for awhile now....
this is deliberately getting agitated....
but alot of us in OWS already see that one....for a while now....
A hour or two later there was a program on one of the 'cable channels' where the premise surrounded Donald Trump trying to apply a value to the assets of the Federal Government. This was foreshadowing as the end game is 'choking the beast' and forcing it to puke out the valuable assets for pennies on the dollar in rigged, closed door auctions. Now you know why seemingly sensible people continue to purchase Treasury paper- it represents a ticket to the end game asset dump. He who owns the garbage paper makes the final (crony) bid on the assets.
Chilling?
Since when is the blunt truth, reality chilling?
Welcome aboard the Wake-Up Train.
Chilling in that the train is accelerating around a bend.
To get serious unrest all you have to do is to go out and cut some power lines or beat up a black person on TV, simple, cheap, and effective measures.
This "campaign" is not talking to the emotional-driven majority with their externalised value sets, the ones who does not bother to vote anyway.
It is aimed at thinking people. Therefore, It is just a plot from Obama to make himself look better: Toss a few of the more annoying party members and special interests under the bus, rejoice in "Change" and "Fairness" and get reelected.
The filth lost is easily replenished. Only the intelligent cares enough about fraud to be enraged and their rage will be expressed in a very angry letter, not with costly rioting and looting. It is I.O.W. the low-risk, intelligent, option - like one would expect coming from government itself.
lets see them try and get around the law of the jungle......
Governments consist of the strong preying on the weak. We call our version "democracy" and it is the law of the jungle.
I wonder what psychopath thought up the concept of money and government thousands of years ago. It's more of the opposite, though, the weak preying on the strong. With government and money you get a class of people that don't have to provide for themselves while everyone else labors. The very idea of government is a conspiracy of the few to rule. Once people adapt to such a system there is no going back because it is convenient and the skills to provide for oneself is lost. If money were to somehow be lost again then the first people to use it would just enslave the hunter gatherers.
60 Minutes has finally brought this gross and criminal injustice to the general public?
i thought you libertarian Friedman-ite peabrain freeeeeaks were about unfettered insider trading? what happened? surely you're not advocating for more eeeeeevil guv'ment regulation? because that would mean paying taxes.
are you SURE you irrational disgruntled torture-supporting ex-Repuglican Bushbot idiots know what you stand for? (better check the welfare parasite Ayn Rand's manual again)
No one is enforcing the rules on the books now, bitchlet.
rules? i thought you libertarians didn't believe in "rules"
you don't want to be "treaded on".......remember?
Gosh cupcake...wait for it...
I am not a libertarian!!! Not a teapartier. Not an OWSer.
Now what?
Do you think the rules on the books are currently being enforced, yes or no?
Dontcha just love the stereo-typing that goes on these days? Makes communications difficult enough with normal people let alone the somewhat unhinged.
I don't know, Rosterman is very easy to stereotype as, oh, I don't know, a fucking troll with an agenda!
If he said something that didn't look like it came off a "talking points" sheet, I might listen. But flat headed communication that says nothing novel sure makes me want to shut down communication.
Hope you are doing well this evening sweetness! We are all unhinged I fear. Not that the toads in Congress are not. Wonder what it is like to have sold your soul to the devil with no hope of redemption?
Hey Rasta-retard.. you need rules relating to banking, finance, and how people should work ethically within a government, amongst other things. ESPECIALLY those 3. There must be a set of ground rules that must be in place with anything and everything. Hence naturally, this is why they advocate a smaller government.... generally speaking, smaller government = smaller scale or less corruption than any bigger government. But anyway I feel that's besides the point.. How have you contributed to the world today Rasta I say dumb shit all the time from my retarded username. Keep toking up degenerate
Governments always write laws which benefit members of government and their cronies. Government itself is the problem and regulation is used to promote the criminal class, not to diminish it. The video makes that point as clear as day.
I didn't junk you, but I understand your point.
YOURE A TOOL!
sidenote, if buying physical PM's now while they are CHEAP, because we KNOW whats coming, then im all for insider trading......you TROLL!
Who is John Galt?
I wonder what happens if you meditate on rage?
You discover the sound of one hand slapping Nancy Pelosi over and over again.
Awesome!!
I sort of see a three stoges thing where you line them all up and slap them all in a row (maybe throw Ron Paul in there for one round, just to let him know we are serious). Naturally my fellow Z Hedgers are right in front of me and behind me slapping away too!! And then we get back in line for seconds and thirds, maybe mix it up a little with various implements and such...
Wooob, woob, woob, wooo.
Unuck, Unuck, Unuck, Unuck...
Oh yeah - I liked Mrs P's body language. She holds the back of her right hand up to shield herself and to cut the dialog - as if that can deflect reality. Feeble.
Come on now, she made a hundred grand on that Visa deal entirely by accident.
Whoever once said that organized crime - at the highest levels - was bound to go 'legit' was undeniably accurate.
watch the old people laughing after about 1:15
http://www.youtube.com/watch?v=VepS-IyKOLE
at this point, I think most people would be laughing and cheering
PREDICTION: The government will soon attempt to fix the deficit by insider trading.
I thought that was the Fed's real mandate?
I thought it was to fix the market by deficit trading?
The Pelosi bit was funny. She just basically admitted she is willing to take essentially a bribe and then enact legislation that was adverse to them. If I was a corporation I would not give these people a thing.
Up for vote today is HR WAFJ-LOL. In summary, HR WAFJ-LOL shields us from insider trading laws. In other words, we can use any and all information, even when held in the strictest confidence, to personally profit.
For fun, let's start the vote with the nays. All not in favor or the law say nay...
(dead silence)
All in favor say aye
(tremendous chorus of ayes)
By the way, some dipshit has authored legislation restricting our privileged position in regards to insider trading laws. In good faith I recommend you attend the hearing
(roaring laughter)
Alright then, I'm sure we all have a scheduled packed with lobbyist meetings. Meeting ajourned.
As I noted in a post last week, a recent study by a Congressional Watchdog group found the following "outperformance" by our elected officials in Congress:
House members: +6% better than S&P
Senate members: +12% better than S&P
As one wag replied, that right there proves they are idiots, as given their access to information---indeed, the ability to MAKE information---the performance should have been much better.
Every incumbent must go.
Every subsequent debate must raise this issue, in particular questioning Gingrich, Santorum, Paul and Bachman, who serve/have served. Every candidate facing an incumbent in the upcoming election must raise this issue in debates and in advertisements.
If all else fails, I am reminded of the old saw "the ballot or the bullet".
Tar and Feathers, Bitchezzzzz!!!!
Roll the John Adams clip for visualization!
http://www.youtube.com/watch?v=gSPWXQhh6-A
"Tar and Feathers" Fuck that. I want Western Justice.
ROPE AND OAK.
It should be applied liberally to politicians and judges at EVERY level of government.
Tar and feathers allows the evil fuck to live and, possibly, return another day.
This is why we should scrap voting and have gov't positions filled by lottery. Now before someone says "What if we get some dumb illiterate in as President or Senator?" I say What the hell does that matter ? They don't read the legislation anyway. You think Obama is reading a 2000 page bill in a few days? I don't think so. If you meet the eligibility requirements for public offie. Your name goes in the hat. It should be like jury duty. You can opt-out 2 times but after that you drafted.
Honesstly , we couldn't do any worse.
Great idea - it could work and would dispense with all the graft.
You Americans are having craziness in your minds to be having the thinking that not all peoples who are having power and many wealths are having the same behaviours. What you need to be knowing is that some peoples who have many wealths also are wanting people who have little moneys and no wealths to still be having things to make their living be better for them. Other peoples who are having many wealths are only caring about other peoples who have many wealths and much moneys. Those peoples are peoples who think presidents that are good presidents are the ones who are like george bush and sarah palin and milton romneu and even crazies like rick perry.
Benevolent dictators went out with Qadaffi/Khadaffi/Gadafi.
All your life are belong to us, Bitchez!
America beacame a moral banana republic 30 years ago...it is only now slipping on the skin
Next time I find myself in a position where I have to deny reading a restricted trade list, I'll whip out the "It's not true, and that's that" defense ploy, along with a Vulcan wave (actually a horizontal Braves chop).
Never mind that both the republican and democrats are TRAITORS and that your church is a 501c(3) GOVERNMENT mouth piece.
http://westernrifleshooters.wordpress.com/2011/11/13/we-the-whipped/#comment-18061
The line is hot; fire when ready.
deleted
This is an important development. My subjective take on probabilities as to why this occurred:
a) just good reporting by a news team- <1%
b) deliberate agenda to foment unrest or create chaos- 40 %
c) specific political agenda for the POTUS election- 5%
d) vendetta on part of money class against political class - 20%
e) attempt to deflect attention from banks or some other current issue- 25%
f) move by PTB to create sense that system is still self-policing and ultimately just (I.e. subliminal message that you can all go back to sleep and trust the system) - 10%
Media is completely owned by the system so the chances this slipped through are almost nil. The pea-brained politicians who have sold their souls for a few shekels are completely expendable to the PTB and they will awaken rudely and too late to this fact only to watch as they realize they sold themselves down the river along with everyone else.
Curious to know how others rate the motives behind this move.
few shekels are completely expendable to the PTB
You're right. Pelosi doesn't run the world, Goldman does. She's totally expendable.
And an other thought: MSM must be desperatly looking at readership/viewers rating plumet as their credibility is ever decreasing (think corporate ads sales). They need to do something about it. Why, let's giv'em a bit of cake... And make believe they're better informed thant they think.
Because, really, anybody suprised by this piece of "news"?
One more humorous morsel:
That the politicians have been getting away with this for so long means that there has been an unspoken, but very strong agreement that the media would not interfere in the obvious scam. The look of terror on Pelosi's face was like Gollum when the lights are turned on. These guys have been dwelling in dark and greedy places. They fantasized that their ill-gotten privilege would last forever.
Clean up the cess pool, right Nancy......sickening. What's wrong with her eyes in the video??
Washington DC in 2011 = Rome in 270
http://mises.org/daily/3663
g) Show the politico's who is boss and who can throw whom to the wolves
h) Try to restore some credibility for the (owned) fourth estate so that it can still function after the wolves have had their red meat.
Throwing friends and allies to the wolves is always part of the end-game. This kite-flying about Taiwan was a good example.
great advice if you don't like it run for office yourself..(dipshit)
of course you will be given 89 sec of speech time..you may even lead in the pols and the 3 with the lowest votes will be 24/7 on the tube with the MSM telling us they are the serious candidates
you are only selected to even run if you are one of the sociopaths or so corrupt or perverse (better if both) that you can be blackmailed
PS put pics of your privates on face book and you are in.
tramp don't be so stupid you have been on ZH long enough..there is only one party get it?
There is corruption everywhere, but the USA has had a moral base that's only been dissipated
in recent decades.
This possibly the single most important factor in our economic success. Other countries have
abundant resources and diverse populations yet haven't lasted as long.
Brazil's entrance into the modern world has a lot to do with the growth
of protestantism and its work ethic.
China, India, and the Russia will choke on their own corruption. Too bad they're nuclear
powers, as we'll all choke on their nuclear fallout.
When someone without power trades with insider info, she goes to jail.
When someone with power trades with inside info, she enjoys it fully.
This is a great country of law.
The logic of this whole scheme is perfectly clear and the reason Wall Street gets away with murder, obvious. In other words, what better way to protect yourself if you're Wall Street than to make the government complicit in your crime?
Not having real time disclosures of securities trades is the loophole which makes members of congress and legislative staffers immune from enforcement of insider-trading laws. The delayed reporting of securities transactions by congress, defeats, obstructs, and impairs its use as timely evidence. Insider-trading cases are hard to prove, because the trades must be tightly linked to the events or information on which they are allegedly based.
Trades need to be disclosed in "real time or near real time," so that the memories of potential witnesses are fresh and suspects do not have time to cover up their actions. The SEC, which conducts most insider-trading investigations, urged faster disclosure of stock trades by members of Congress on electronic, searchable forms. This is why no Congress people were investigated under the current laws.