Is Congress Above the Law on Issue of Insider Trading?

Few journalists and media outlets have been bold enough to speak out against the issue of congressional insider trading. If you are asking yourself “what in the world is congressional insider trading,” you are a testament to our point.

Currently, the U.S. Senate and the U.S. Supreme Court are the only two entities that have no rules or laws prohibiting members from profiting off knowledge gained on the job. According to a study issued by the Center for Responsive Politics, between 2008 to 2009, Congressional members posted a 16% collective stock market gain while during this same period the majority of Americans lost money and the NASDAQ fell 8.4%.

Could it be that members of Congress have an advanced financial IQ that normal Americans are not taught through the public nor private education system? Or, is it a much deeper-rooted issue and members of Congress are actually considered above-the-law when it comes to insider trading?

Watch the video below and decide for yourself.

Interview conducted by Penny Ray of BallersonBudgets.com
Visit ProCon.org for more information.

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Penny Ray

Penny Ray is President and COO of BallersOnBudgets.com. He also writes freelance for multiple online and print publications on the topic of personal finance. In 2010 he was selected as a Savings.com DealPro.

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  • 1 comment for “Is Congress Above the Law on Issue of Insider Trading?

    1. December 1, 2010 at 7:23 pm

      You can certainly dispel the idea that members of Congress have an advanced IQ in anything, and certainly not “finances”. If they did, the federal budget wouldn’t be in such a deficit. It appears, however, that you are “suggesting” that members of Congress “may” be involved in anything illegal. Really? We are talking about our elected leaders. Is it possible that any of them would be crooks? Oh wait – is it possible that any of them are “not”???

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