From June 11, 2012

[USFREEDOM911]

From June 11, 2012

There has been comments made; regarding how did certain members of Congress get so rich, just off of their salaries.

Congress: Trading stock on inside information?
Steve Kroft reports that members of Congress can legally trade stock based on non-public information from Capitol Hill

Editor's Note: The report "Insiders" received quite a reaction the week after it aired. Democratic Congresswoman Nancy Pelosi's office called the report a "right-wing smear." While Republican Speaker John Boehner's office called his inclusion in the story "idiotic." But now, at least 93 members of Congress have signed on as cosponsors of the Stock Act, and for the first time the bill has been introduced in the Senate.

The bill was supported heavily by vulnerable incumbents and signed into law by President Obama.

Kind of like closing the barn door, after the horses have all run away.

[Nordberg]

When you pass the laws that change business, you have automatic insider knowledge that gives you an investing advantage. Congress has resisted changing laws that will disallow that. It comes up regularly and gets shot down.60 Minutes has done stories on it a few times.