Quote:
Originally Posted by BFT3K
I copied and pasted this from a comment on this story...
Here's why you want congress to be exempt from insider trading:
Congressman A owns stock in Monsanto. There is a bill up for vote that will ban a pesticide owned by Monsanto. If Congressman A dumps his stock in Monsanto and votes in favor of the ban, that's insider trading. If he's not allowed to do that, he has to choose between regulating Monsanto and losing a lot of money.
I'd rather not rely upon the selflessness of politicians, personally.
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Sorry, that makes no sense. We should be able to see everything that they are doing, in exchange for allowing them the power to use force over the rest of us.
Actually, they shouldn't be allowed to trade at all. They are not elected for this. If they want to trade on wall street, then they shouldn't run for office. They have the ability to save one business with our tax money, or cripple another with new regulation. They can give bailouts to their friends and help to keep down the competition with expensive licensing and taxes that only the biggest can afford, etc, etc, etc....
Anyone who things that the US isn't exactly the same as some 3rd world country when it comes to corrupt governments helping themselves, and their friends, to our money is totally fooling themselves.
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