Sunday, June 24, 2012

It doesn't smell quite right

The Washington Post has been running a series on the relationship between our federal legislators personal finances and their actions as legislators.  In the latest installment, they looked at 45,000 individual congressional stock transactions contained in computerized financial disclosure data from 2007 to 2010.  They found that one-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees.  While Congressional rules sound as though they prevent legislators from trading on inside information, the rules do allow them to take official actions that benefit themselves as long as they are not the sole beneficiaries.


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