Congressman trading on insider information!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[tortoise]

When I was a reporter on Capitol Hill, I used to trade that kind of info. all the time. You were an idiot NOT to. Defense bills were the BEST. But the whole appropropriations process continually served up actionable nuggets across-the-board. And then there was Ways & Means. Good times ...

But that's not "insider information" as the law defines it.

Law doesn't prevent from trading based on non-public knowledge of what a public enterprise like the government is doing. Just on non-public information of what a company is doing.

 

[nutmeg]

Quote from tortoise:

When I was a reporter on Capitol Hill, I used to trade that kind of info. all the time.

Just curious, did you have your own account or did you use a broker? Reason I ask, I wonder if brokers followed your trades if they knew you were a reporter.

 

[tortoise]

Quote from nutmeg:

Just curious, did you have your own account or did you use a broker? Reason I ask, I wonder if brokers followed your trades if they knew you were a reporter.

I had my own account.

 

[RedDuke]

Quote from S2007S:

It would be nice if it woke people up, but people dont care about this news, its already been forgotten.

Unfortunately, this is a sad reality. Who cares about this staff when more important things like Kardashian and the like is what most are talking about.

 

[maxpi]

Laws can't stop insider trading. Somebody with inside knowledge can simple tell somebody else to load up on some options and in turn receive a kickback in some untraceable form..

 

[Lucrum]

Quote from maxpi:

Laws can't stop insider trading. Somebody with inside knowledge can simple tell somebody else to load up on some options and in turn receive a kickback in some untraceable form..

It wasn't all that long ago it wasn't even illegal.

 

[pspr]

Quote from maxpi:

Laws can't stop insider trading. Somebody with inside knowledge can simple tell somebody else to load up on some options and in turn receive a kickback in some untraceable form..

Steve Cohen's bread and butter.