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Well MSNBC, why are we just now hearing about this? Oh, I'm sorry, I forgot, she's liberal.
Hey Pelosi, don't take it personally, ALL of you ARE crooks.
Hehehe- more of the same from your elected offcials...
This has zero to do with liberal/conservative but go on thinking that way. They like us to engage in partisan rancor because it distracts us from their obscene profiteering in the guise of public service.
Most conservatives would had pointed their fingers at "60 Minutes" as being part of "Liberal" reporting. @!$%#man, you are just as stupid as most finger-pointers at "liberals" yes stupid@!$%#man!
Sniff, sniff, sniff. Nope, doesn't pass the test.
"The report said that Pelosi and her husband participated in a 2008 IPO involving Visa even as legislation that would have hurt credit card companies was being considered in the House. Pelosi speaker at the time and the legislation failed to pass in that session."
Make that only 8 IPOs that Pelosi partook in (from major corporations). Nothing like money would EVER marr a politician's view (while legislation is being introduced against the IPOs interests), right?? Crazy! That's like saying that politicians would set up cherry deals for their families, friends, and donors! He he, never happens.
Face it, DC is corrupt all the way around and both parties are in it together. Just look up all of our "representatives" net worth and you'll see that they don't seem to represent average people. Some go in with money, but a lot just seem to make millions while "serving" the people. Maybe that's it, maybe they misplaced words and they think it's "serving" themselves from the people.
If our representatives are so astute in making good investments (while in office) and making a lot of money, how come they can't create or manage a budget, can't seem to realize that spending programs cost money, seem to think that paying unemployment is "job creating", think that you need to spend more to control the deficit, and don't have a way for our country to do what they all seem to do so well??
Yeah! and, what is John Boehner's excuse; he was singled out also? Is Boehner a "liberal" also? If you want to try some honesty and integrity some time, change your handle to "skid marks"!
YOU, yes you who are reading this. Just wanted to remind you of what you already know.
YOUR POLITICAL PARTY SUCKS. And is no better than the one you hate.
So, why do you keep pretending otherwise? All you need to do is actually pay attention to the list of corrupt politicians and note that your party has just as many as the others.
And not to give 60 minites a break on this particular report. 60 minutes = Faux news in the level of its pure crap. The difference is more people who vote for pulitzer prizes worked for CBS than Faux ;)
Look at the few co-sponsors of the Stock Act Bill of the 8 listed there are 7 Dems and only 1 Rep., none the less the majority of both parties are just as guilty of corruption. It also shows only a small picture of how much both Wall Street & Washington conspire together against the public. When greed takes over capitalism fails the average American.
People, the problem isn't this story or who did what... the HUGE problem is that it is LEGAL..... Why in the hell is it legal? We don't allow banker and stock brockers to do it... why should our congress get a free pass???? It is disgusting.. to say the least.
Pelosi is a hack and needs to be voted out. She is, was and always will be out of touch with the common man.
If anyone, dem or repub, is surprised by this story, you should pull your head out of the sand and get a reality check.
Simple really.......It's the golden rule. He who makes the rules gets the gold.
No doubt every one of our elected representatives is engaged in this culture of corruption. This is the only truly bipartisan activity in Washington - wholesale graft. Nancy Pelosi asked Steve Croft 'What is your point?' when he questioned her about insider trading. Apparently she sees nothing wrong with it.
Of course they all say, 'Oh no, not me. I don't do anything illegal.' Unethical. no question. But definitely not illegal, - for them. John Boehner says he never engages in such practices. Just ask his financial manager, who gets the insider information and initiates the trades on his behalf.
Congress has become a cesspool of corruption, and greed. No wonder the country is being sucked down the drain.
"It is not illegal for members of Congress to buy stocks or make land deals based on information they're privy to through their positions. And the profits are often substantial." So insider trading is illegal for everyone but congress? WTF!
Skiddy, "Why are we just hearing about this?". I would suggest that you are just hearing about this because you did not watch 60 minutes yesterday. Do you really expect one network to report what another says before it is said?
The question goes begging! Who you gonna believe, the hard mathmatical facts based on reason or the denial of members of both the Republicans and Democrats in Congress? You know, their so, so homest, right?
You are just now hearing about it because the report aired last night on 60 Minutes.
As usual some are missing the fact that both Republicans and Democrats are doing this.
Advocate for change instead of reacting.
BTW -- Go watch the segment on 60 Minutes.
It doesn't matter if you are dem or repub, they are all crooks, and Pelosi as well as Boehner are pizzed because they both have been exposed for illegal activities of insider-trading.
The way I see it, these two should be behind bars instead of now trying to cover their tracks.
Off with their heads!
"Skiddy"- The program aired YESTERDAY. MSNBC is now reporting the issue TODAY. Is that fast enough for you, or did you expect the NBC editorial board to now have the ability to see into the future??
Thanks Dont carry it, It's so annoying how each and every discussion gets to repub this and dem that so quickly!
"In an exchange with CBS correspondent Steve Kroft, Pelosi denied that the transaction was a conflict of interest. And in a statement on Sunday, after the show aired, Pelosi spokesman Drew Hammill said the report failed to note her work for the rights of credit cardholders." Thgis is an interesting statement for any politican to make when it can be verified that they, congress, does not set itself within any guidlines set forth for other government employees. And public records clearly show that members of congress have benefited greatly from insider trading.
It is beyond the imagination that someone can be that "lucky." For those blasting Liberals:
"A report on CBS' "60 minutes" on Sunday said Pelosi was among several lawmakers — including Republicans such as House Speaker John Boehner — who had profited from transactions that raised the possibility of conflicts of interest."
Our system is broken and we still let the practice of lobbying and allowing those to be regulated access to our politicians. It's not relevant whether they have a D or an R next to their name.
Law of Physics: for every action there is an equal and opposit reaction. So, for some to gain money in the market, others must lose money. The gainers are those who have the capability (lots of money or inside knowledge or the plunge protection team - google it) to manipulate it.
Here's my question: If it is legal for members of congress to act on inside knowledge due to their positions when dealing in the market, why is it illegal for anyone else to do it? That's insider trading if I ever heard of it. Insider trading is illegal. Maybe Martha Stewart should sew them.
If you aren't playing with the big boys (you know have that market manipulating capability)— don't put your money in the market. You are the people the Bernie Madoffs, Wall Street big wigs and apparently members of Congress make their money off of. I refer you back to the law of physics.
Pelosi, Rangel, Franks, Meeks, Dodd and the likes gotta go and are the reason we are in this mess today.
Thanks Obama this is a fine mess, you got us into, ya dag blasted scalawag!
Back to my Tall Iced Tea & Stogey
grumpy john, take your skidmarks comment and place it where you need to. Even if this isn't agaist a law, it sure is ugly. You are probably I'm sure the type who thinks your side is always right and does no wrong. When the Lame Street Media reports it, you knows its bad for the libs.
it is a common occurrence in Washington, that congress-persons and high ranking employees take advantage of their knowledge and positions to trade in the market, based on their inside knowledge of legislation, regulatory and tax matters , to reap windfalls in stock manipulations, it is one of the expected perks when elected .
Insider trading is illegal for everyone else but congress.
Correct the laws, then vote them out of office. If the laws aren't changed, the next person elected into office will just continue the practice.
The media is liberal because the media is run by college educated people. Very few high school graduates end up in high positions in the media and college educated people are overwhelmingly liberal. There seems to be a connection between education and a liberal outlook on politics. That's why conservatives like to call liberals elitist because they want to make education and intellect look like poor qualities.
Sooo, in order to be above the laws of the land, become a congressperson...and...get filthy rich in the process...Martha is a crook and Pelosi, doing the exact same thing on a much bigger scale gets to walk around scot free. This is just so very wrong.
Don't you remember hilary's insider trading? She was only a president's wife. Martha was sent to prison for less.
Does anyone other than myself see this as a smoking gun that ties the personal interests of political leadership to the money machine of Wall Street?
How do we get the laws changed when these are the ones making the laws?
Who in the hell voted for her anyway? Come on, San Francisco, wake up!
wives fan. You are 100% correct. Whether law makers admit it or not, it is no different than inside trading on wall street. How pathetic and disgraceful this is. Democrat and Republican alike, any one that does this should resign from office. Where are the protests for this? How despicable. Keep in mind that it is the democrats hammering on the corrupt wall street people. How corrupt and unethical is this?
Did you happen to watch the segment or read the article? "If" Boehner would have appeared? 90% of those in congress are taking money that is either questionable or illegal. You come away with "Pelosi." You will also note that they never lose money on investments nor when they sell their homes.
looks like Nancy's career is finished as Madame Speaker.
Even if the Dems were to win back the House, Nancy is now damaged goods.
Congress makes and passes laws and exempt themselves from them. This is why this is legal for them and not others. Ever wonder why when they get into trouble with interns and pages they never see criminal charges like the rest of us would? Because they are exempt!! The only charges you will see against them is ethics charges. So technically they are not crooks, they are scum!
Arieus
Off with their heads
Oh Hell Yes!!!! Skull-@!$%# the Tan Man's toothless artifact and use Pelosi's for either a coffee cup or a Chamber Pot!
it's not just the inside trading, it's the IPO's access that they get. Initial Public Offering (IPO) is when a company first issue shares and become public. Those shares are at preferential price and are very difficult to get.
In 60 minutes piece was explained that: instead of giving money straight to the congressmen or senator (which is illegal), they get access to Preferential IPO shares, making millions of dollars. e.g.
"Participation in a stocks IPO, i.e. Initial Public Offering, is one of the more sought after trades on Wall Street. Often, an IPO investor is able to get into a stock at a relatively low price and realize an almost immediate gain once trading commences, especially if the IPO is “hot” or, rather oversubscribed, meaning more investors wanted shares than were available. Visa’s IPO was blockbuster-level “hot.”
"Pelosi spokesman Drew Hammill said the report failed to note her work for the rights of credit cardholders"
So Mr. Hammill, that give them the right for insider trading? When did that become a law Mr. Hammill? Nothing like coming right out and telling us that they do insider trading, is there? And yet we continue to allow these thieves to run this country into the ground. Maybe that is what it will take to open the peoples eyes. Let's just keep ignoring what is going on, and keep throwing the party rhetoric back and forth, ok?
Yes, that is it exactly. I suppose I'm not too shocked that it is happening (although, I think my better nature had hoped it was not so ubiquitous). The thing that shocked me was the incredulity of Pelosi and her co-horts (both Rep and Dem). I mean, how dare anyone question the propriety of engaging in what amounts to insider trading while having influence over the success or failure of the very enterprises being traded. It shows how out of touch these people are that they cannot concede the obvious appearance of impropriety, if not blatant violation of ethical standards.
Want another shocker?????? Most of the same congressmen/women after getting out of office will go to work for these corporations they made millions off of with favored legislation. Look at the insurance company executives!
I've been saying it for a while, both parties are made up of the rich and for the rich. They keep us divided into parties and against each other so We the People don't join together against them! Same strategy is used by the military and the CIA. Now watch this get spun into more mud throwing about how the "other" party is worse and the sheep will follow!
Oh and nice story, hope the reporters have an application in at Fox because they'll be gone from MSNBC soon! They should have made Pelosi out to be a minor figure and blamed the Republicans for it.
If it is happening, the ONLY ones that may sniff it out is the media... since it IS legal. And the only possibly positive outcome other that Pelosi getting it from the right and Boehner from the left, is to finally make it illegal for Congress to invest in stocks...
But I WAS kinda for them being invested in the stock market so they are incented to do things viewed positively by the market.... but given the greed of late (or at least the exposure of greed of late), I'm thinking they should not be in stocks at all. Sounds like a good discussion seed.
Should Congress, or any branch of government, for that matter, own stocks?
My vote: NO. Conflict of Interest.
I don't have the time to read the 900+ comments here, but of the pages I've read, it's nice to see that the general theme is that most agree it is Dems and Reps, alike, who are raping America and the American people. They have their own retirement plans, and we're told that we have to stick to Social Security because we're not "bright" enough to invest on our own. They have their own healthcare, but the rest of us are being forced to use the healthcare they want to provide for us. They are allowed to invest based on insider trading, but we, like Martha Stewart, would be sent to prison if we did. How is it that SO SO MANY AMERICANS do not understand that ALL OF THESE POLITICIANS are the RICH they they "SAY" they want to tax....come on, that's not going to happen, why would they try to tax themselves?? oh...let's see...that only applies to your "INCOME"...hmmm...so what do the politicians get to call all of their wealth they accumulate from all of these deals??
TERM LIMITS!!! TERM LIMITS!!! ELIMINATE THEIR ABILITY TO SWINDLE AMERICA OUT OF HER WEALTH BY PASSING THEIR PAY OFF LAWS. LIMIT CONGRESS's TO 1 TERM...FORTUNATELY THERE IS SOMEWHAT OF A LIMIT ON THE PRESIDENT, ALTHOUGH 1 TERM WOULD BE NICE THERE, TOO. ALSO, LIMIT THE JUSTICES TERMS TO 6 YRS. This is a new era in which lifetime politicians is not healthy for a Republic such as ours. Go back into the private business world, and work your own magic there.
Princess Pelosi is not finished Patriot. Her liberal supporters will vote for her regardless what she does. Her husband exploit their workers in his Samoa fish factory , according to Washington Times he is also recipient of $ 100,000 from her PAC , money that was sent to his real state and investment company, crony capitalism. Pelosi fortune is $ 35 millions in 2009 was $ 22 millions , she made millions during the time most people where loosing their houses ,but she support to the people that are against her .......the OWS
Bb we need also a real press , no the ones that protect one group and villainies the other. The press is also colluded with corrupt politicians.
CBS is starting to become a news organization again. They broke the story of Fast and Furious and now they come out with this. I hope they keep it up, it's way past time to have real, non-partisan journalism again. Enough of Fox and MSNBC and extreme editorial bias masquerading as journalism.
As to the politicans? As many have pointed out...they make the laws, are exempt from the laws and profit mightily as a result of those laws. Long past time to get rid of the hacks, the crooks and the opportunists. Note how many in congress were lawyers...nuff said.
yes and she bought 5000 shares of ipo stocks in visa. and last nite was not the first ive heard of it. i heard about it on 700 wlw's steve sommers show over a month ago. he is on from midnite to 5am in the morning on 700 am radio. steve was pointing out that pelosi increased her net worth by 62% in 2010 over 2009. in the middle of a resession,when most every one else was loosing money,peoples 401's were being wiped out,and unemployment was over 9%. how can this be in any way legal?
"Pelosi and her husband, Paul, are reportedly worth $40 million, with a significant stock portfolio. In the spring of 2008, when Pelosi was speaker of the House, Paul made a big play—between $1 million and $5 million—on Visa, the credit-card company. What was striking about the investment, apart from its size, was the price the Pelosis paid for it. The Visa initial public stock offering was one of the hottest of the decade, its price-per-share jumping from $44 to $65 just 48 hours after public trading began. But the initial public offering, at the $44 price, was reserved for institutional investors and mutual funds, plus a select group of individual investors. The Pelosis bought their Visa shares in three transactions, the first of which—5,000 shares—came at the lower IPO price. This may have been just a piece of investment luck or an instance of Visa extending a friendly gesture to an important political figure."
"during the debate over Obama’s health-care reform package, John Boehner, then the House minority leader, was investing “tens of thousands of dollars” in health-insurance-company stocks, which made sizable gains when the proposed public option in the reform deal was killed. (“There are laws and there are rules of the House, and they should be followed,” a Boehner spokesperson tells Newsweek. “The speaker does not make those trades himself. He has a financial adviser in Ohio.”)"
the trading activity of Republican Rep. Spencer Bachus, of Alabama, who, as the ranking member of the House Financial Services Committee, was privy to sensitive high-level meetings during the 2008 financial crisis and proceeded to make a series of profitable stock-option trades.
On Sept. 19, 2008, after attending two such briefings, Bachus bought options in an index fund (ProShares UltraShort QQQ) that effectively amounted to a bet that the market would fall. That is indeed what happened, and, on Sept. 23, Bachus sold his “short” options, purchased for $7,846, for more than $13,000—nearly doubling his investment in four days.
Yep, and now everyone knows why these turkeys spend millions campaigning for a $ 174,000/year Congressional job:
It is time for someone with guts on the Congressional floor to submit legislation making it a Federal crime to use information received during their tenure in Congress to make a profit. Then we could see who the crooks really are when they vote against the legislation.
Further, it would be very interesting to see how much each Congressional member is currently reporting on their IRS returns and compare that to how much income they receive PRIOR TO BECOMING a Congressional member.
Finally, it would be EXTREMELY INTERESTING to find out the financial records of our SENIOR ELECTED OFFICIALS (White House) and ALL Cabinet appointed positions.
Small wonder that most of them are millionaires when they are finally booted from the White House or Congress after an election.
I love they way some on this story seem to think it only involves Pelosi. Did they not read the part that pointed out that others including Republicans such as House Speaker John Boehner also did this? This is not something that only Dems or Reps did. It is something that both sides do at the expense of the American people. It is something that regardless of which party you support you should jump up and down and demand that rules shouldn't allow this. Just think not only are the congress people doing this insider trading but how many of their staff are doing it...
Wake up America congress is rotten and it is not just the other guys congressman it is yours.. but are you willing to give your rep a pass? Well how about this..The bill to make this illegal only has 6 co-sponsors if your congressman is not one of the six then how about not voting for him/her in the next election?
Pelosi is actually benefitting from legislation she is involved with, and its not illegal.
This is patently illegal on the private side, why not on the public side? This is the very definition of corruption.
Then she has the stones to say she did nothing wrong. At least Boehner has the sense to not be involved in his investment decisions - or at least lie about it.
The US government is the biggest "corporation" on earth. They are the most corrupt, inept, incompetent group on earth. The news almost daily exposes one dirty deed after another, and leftie fools want MORE OF THIS?
Complete insanity.
I agree Paul. When caught................Look over here, look over here......see the good I did?
This lady lives in an ozone all to herself!!
Derek-381097 - People with pictures of themselves holding a gun and pointing it at everyone looking at their picture should not be allowed on public blogs. That's very disturbing! I think you need to seek medical help and I'm not saying this in a derogatory manner....I'm very serious. The person(s) that monitors this blog should do something about it!!
The US Congress. "The only distinctly native American criminal class". So said Mr. Clemens. I think history proves him right.
Why is it legal for Members of congress to trade on inside info when it is unlawful for anyone else to? Tells you something stinks in Washington.
Hey!! You're leaving Boehner out of this. After all, you DO want to be "FAIR & BALANCED"...right??
"In one example, Steve Kroft reports that Rep. Spencer Bachus (R-AL), now the chair of the House Financial Services Committee, bet against the market in the days before the 2008 financial crisis hit — after getting 'apocalyptic briefings' from Fed Chairman Ben Bernanke and then-Treasury Secretary Hank Paulson.
Kroft also raises questions about the trading patterns of Speaker of the House John Boehner and House Minority Leader Nancy Pelosi — and the real estate purchases of other senators and representatives. END QUOTE.
Read more: http://www.businessinsider.com/congressional-insider-trading-revealed-on-60-minutes-2011-11#ixzz1diDgcKAh
What about Harry Reid deal, who pocket more than $ 1.1 million in a Las Vegas land deal.(AP)
Kind of surprised by some of your reactions on here..... I figure some of you would applaud Pelosi for her actions in the stock market.
I mean, after so many posts claiming this sort of exploitation is OK so long as it's technically legal..... a defense often propped up for other ethically questionable practices.
Paraphrasing Pelosi- "No it wasn't a conflict of interest participating in an exclusive IPO of a credit company whom were lobbying against a piece of legislation before me. They wanted to give me money, and I wanted to get money. We were of like minds- no conflict there."
Skiddy,
Got some insight for you. It broke on CBS. Yes, and she's a liberal.
The US government is the biggest "corporation" on earth. They are the most corrupt, inept, incompetent group on earth.
I don't think so, I think they are getting exactly what they want and I don't think that is inept or incompetent. And it's not corrupt since they exempt themselves from laws they pass. But I do think it's wrong and that they are leaches!
We're all going to line up and vote D or R this next time. opensecrets.org has disclosures about every candidate. I suggest you look close to see how beholding they are to special interest groups.
Here's a little advance for ya. (D) (R)
1Finance/Insur/RealEst$122,900,229 38.4% 55.1%
2Other$82,296,889 55.0% 42.5%
3Misc Business$78,461,065 44.6% 50.2%
4Lawyers & Lobbyists$57,584,530 67.1% 32.5%
5Health$42,216,354 44.1% 55.2%
6Communic/Electronics$39,877,377 53.6% 29.5%
7Ideology/Single-Issue$37,548,563 51.8% 47.1%
8Energy/Nat Resource$26,675,152 22.3% 77.5%
9Construction$22,754,116 26.8% 58.7%
10Labor$18,724,436 74.4% 11.2%
11Agribusiness$17,208,438 29.3% 69.2%
12Transportation$16,579,021 25.2% 72.6%
13Defense$7,697,593 38.1% 61.6%
LOL they're all liars aren't they? When and how is this going to be fixed?
Term limits and once they're out they can't run again? And how do we get the ones who seem to decide everything without listening to us to limit their terms. We need to change the structure of how things are done. Give the power to the people to vote on what we need/want and do away with the fake Super Committee. Who do they think they are fooling with that white elephant?
So sick of this greedy, thieving government and the .01% running them. Look at the Clintons and the amt. of money they've made since he was President. They came into office broke or dang near. Bush's ...hell George W. couldn't even run a company without it going bankrupt and what's he worth now? Even stranger that he got into office! Gotta laugh at this crap or I'd cry.
And they just can't afford to keep our Social Security as it is......bah humbug
Someone tell the occupy Wall Street group that THIS is where their focus should be. They are camped in the wrong place!
Millions are without a job, millions lost their homes. The country is is facing bad times, yet our members of congress are worried about making their millions. Nancy Pelosi needs to layoff the plastic surgery, shes starting to look like Joan Rivers omg. Congress is above the law.
Have you ever heard the phrase, "Those who can't do, teach". This is why many college professors are liberal.
And surprisingly enough, students tend to look up to, and respect their teachers. So, when some hippy teacher spouts his hippy beliefs, many students believe it.
Lucky for this country, there are enough of us college educated conservatives that chose to think for ourselves instead of just listening to the hippy at the chalk board.
Someone tell the occupy Wall Street group that THIS is where their focus should be. They are camped in the wrong place!
-------------------------
Yep.
And the reason these people don't put their money in cash is because they have a hand in creating the inflation.
sell used cars or go in to politics.....
I'm sorry but if this is the way our government works then we're in neck deep in crap. Everyone of these congressional scoundrels should be ashamed of themselves but they appear to have a lack of conscience. Please everyone, research before you vote in the upcoming election.
Gee, time for a congressional investigation.
You want to stop congress from making the rules that make a profit?
You want to stop corporation and big business from controlling congress thru lobbyists?
You want citizens to decide how profit is spread?
REMOVE GOVERNMENT REGULATION.
If so called Third World Countries can use the power of citizenship to overthrow a dictator using demonstrations (illegal in those countries and legal here), and social media......why do we need our elected officials to regulate commerce and business if we can control ourselves?
WE THE PEOPLE decide where we purchase goods and services, why must it be regulated and controlled by congress (then big business gets bigger by lobbying those officials to "bend" the law in their favor)? We can decide what we want to purchase, who we want to purchase from, and who we want to trust.
EPA is a joke and a waste.....we could use demonstrations, social media, etc. to communicate what companies are dirty or products unsafe.
FDA......why cant we decide for ourselves what pharmaceuticals or what foods we want to purchase from whom?
TAKE BACK THE POWER.....remove government regulations, then Elected officials answer to their constituents and business only answers to thier consumers.
So, who is going to police the police?
Don't be so hard on Queen Nancy. She has to pay for all that plastic surgury and botox.
John Boehner and Nancy Polosi and other crooks should step down, they make the laws for us, but not for themselves. That is why the country is going down the tubes.
Why Would Anyone Want To Attack the Poor Speaker Nancy Pelosi?
She has no hesitancy to stick it to the citizens of this country, while shes in bed with the bankers & financial wizards and anyone else that will pay ... taking what she can get ...
Bend over Nancy ..... its time your deceitful companions on both side of the aisle get it shoved up yours! ....
The Securities and Exchange Commission defines illegal insider trading as buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. This is no different from Congress buying stocks or making land deals based on information they’re privy to through their positions except they don’t have to follow the same laws that we do. When Congress beats the market by 6 or 12 points those points come from the general public who they are suppose to work for. Pelosi's defense was to have her spokesman Drew Hammill attack the messenger and had no defense against the message other than Congress does not have to follow the same laws as the public. It is time to take a close look when we vote for Congress and not to vote for someone just because they built a bridge in your town with your money but what they have and will do for the country.
That's some pretty nutty thoughts. The reason that we're in such s**t is the lack of enforced regulation. If our government was any more pro business they'd have offices in the White House. The EPA and FDA are underfunded and the corporate rapists take advantage of that. Your entire diatribe is straight from the Fox News/Koch Brothers playbook.
Hey Nancy,
Is it true when you say there has never been more done to the consumer than the credit card laws you helped passed when you were speaker of the house?
So that means I have you to blame for the higher interest rates I am paying on my credit cards? Ever since your legislation the credit card companies have increased interest rates to 29.99%, charged more fees than ever, and did away with most of their low interest rate deals.
Nancy, are you saying you profited from this too? Must have gotten a cut from the credit card companies, because they are doing quite well thanks to your legislation.
Thanks for nothing.
May be it is time to do the right thing and get all of the people that are in DC out that have been there for more than 4 years, either the R's or the D's. Then we pick the right person and tell them it is also time for term limits of no than 6 years period. Then we the people tell them that if there are any lobbist fees that they are going up to at lease $1,000 per month, and no congressman or senators reitired can even setfoot in DC for 10 years.
What about Maxim Waters the Republican Congresswoman giving bailout money to her husband bank. Sorry, is a Democrat Congresswoman.
By gosh did you notice the wrinkles this caused on pelosi? The shock of getting caught must have destroyed her last botox. Guess us peons will be paying for another one as soon as she can get an appointment for it.
Derek- I'd rather watch Fox than MSNBC with their delightful host-Al, I'm a liar Sharpton, that goofy Ed, or Rachel, I hate everyone one other than a democrat Maddow. Man up Mary Lou and grow a pair.
"Pelosi's spokesman, Hammill, said the CBS report left out critical information. He said the legislation in question was passed out of the House Judiciary Committee on Oct. 3, 2008, the last day the House was in session before the election break that year"
2008 - Hmmmmmmmmmm.
That would be when Pelosi had control of the House, and Reid had control of the Senate - Both Democrats.
.
I'm just guessing that Fux has a a website where ditto heads gather--head on over there.
LEAVE NANCY ALONG!
She and Obama know what is best for us! They will take care of us. So what if they wont let us read a bill, before it is passed!
It's not like we are going to understand it anyway.
Hope this helps
back to My Tall Iced Tea & Stogey
Dimwitt! I guess she's never heard the term- Corruption Hill!
paul-3830606, you're suspended for a day for violating #1 of the Code of Honor.
grumpy_jon, username insults are garbage discourse. Follow #1.
Is it enough that Pelosi has here buddy obama in office! She has been in their since what? 2004. When she was speaker of the house. Pelosi been in their to long maybe its time for her retire! All those years blaming Bush. Some please tell me one good thing this woman has done for this country? CBS is liberal media out let anyway. Good job CBS!
CBS deserves accolades for this story. True journalism.
If you believe in honesty, then progressives and conservatives (and those in between) should realize that the enemy is not each other. It is the Democratic Party and Republican Party establishment. Obscene corruption is now the law of the land.
Indy - Pelosi & other big Democrats insider trading has been pointed out by conservative media shortly after each one is discovered. For Pelosi, Her and her husbands deeds were known in 2009. Who held the house then? Gee, Madam Speaker, who is doling all the candy to here followers.
The rightful criticism here is - why did it take until now for a report on this to come out. What about Reid? Franks? Dodd? Rangal? None of these came out in the media you adore until they were about to be centured and were told to resign or retire.
79% of the news media is registered Democrat. Over half of the non-democrats are at Fox which is between 60 - 70% Non- Democrat. That means that NBC, CBS, CNN & ABC must be 90% Democrat.
Consider that Only 35% of the nation is registered Democrat. You are missiing 65% of what really is going on by totally believing everything those four tell you.
Funny how this was collapsed and all he criticized was MSNBC's partial reporting. No shortage of "Faux News" comments are celebrated though.
Why are we just hearing about this?
I heard about this insider trader loophole months ago. Of course it was reported by that big fat liar Rush.
I guess when Pelosi said she was going to drain the swamp of crooked politicians in the House she conveniently forgot to include or intentionally skipped herself.
None of this is suprising. What I find suprising is why they waited until now to expose it. It has been known. The insider trading has been going on for years. Many Government people invested in a small company that was originally supposed to assist with a large contract. They began investing in it but delayed signing anything. The folks that were the main contract holders began to speculate what was going on...at that point it was to late. They practially pushed the main contract holder out and gave it to this little company...boy those government folks that invested made big money on that deal.
Also...the people that took over really had no business doing the job. The didn't have enough people to support and the contract is no better then it was before they took over. They just find ways to fudge numbers to to make thier suspense dates look better even though it takes them much longer and they don't do a very good job...and these clowns still have the contract.
No suprise here.... it's just another perk for Congress and you "law abiding" citizens get screwed some more. There's NO DOUBT that virtually everyone of our "Government" officials are involved in this type of cr.ap.
And people think it's the "RICH" screwing our country. WAKE THE "F" UP, (voters!).
http://www.newsmax.com/InsideCover/pelosi-stock-insider-60minutes/2011/11/13/id/417848?s=al&promo_code=D800-1
Wonder if Martha Stewart would care to comment on this?????
Martha Stewart went to jail NOT for insider trading, but for lying to the police about it.
Yoshi
"Pelosi fires back"
I think is was a miss fire.
And what was the lying over Yoshi-1? Wasn't it regarding profit for insider trading - selling prior to the stock crashing?
Yes, exactly. Did you read my former reply? She went to jail for LYING TO THE POLICE ABOUT IT. Get it NOW?
Yoshi
Pelosi fires back ?!!! She did everything but answer the question, of course she knew it was a conflict of interest or at the very best had the appearance of a conflict of interest and shouldn't have been done either way.
She and all the others are very good at dancing the Congressional Shuffle, duck, dodge, sidestep, deflect, squirm. Duck, dodge, sidestep, deflect, squirm... a dance they are all good at.
All the more reason to vote out each and every incumbent and elect Independent candidates who are committed to passing the Stock Act and removing the ability of congress to exempt themselves from any law they pass retroactively.
We might be able to keep the six who cosponsored the Stock Act if we can find out who they are.
Good job 60 minutes for this and last weeks expose on lobbyists. Give us more !!!
it is illegal to lie to the police but it is legal for them to lie to you. It is OK for the police to confiscate your property before you are even convicted of a crime.
Something seems all FU to me.
sdpaulson,
RE: your post #2
This is NOT a perk! These acts of trading on inside information are unethical, immoral, and should be CRIMINAL. God help us all in this absolutely corrupt political system! Makes me want to cry to the heavens with rage!
Yoshi-1, please reread my original post carefully and you will see that I did not mention lying or jail.... I do apologize though as it's my mistake for not clarifing the original statement in lay terms.
It was an inference to the root of the problem. Members of Congress being above ordinary-private citizens (you and me). Hence Congress members ability to get away legally with insider trading.
In Queen Nancy's eyes, how dare she be questioned or conflict of interest be point out. Had Pelosi's standards applied to Martha, there never would have been questioning and "lying/jail", right? That's what I thought Martha should discuss..... that she was even called into the spot light and questoned in the first place.
I posted this 60 Minutes show on my FB page last night and I am gonna scream it to high heavens until the election day! This is outrageous people, doesn't matter what party you like. The fact that the Congress can get away with making a Fortune off of Insider Trading is just not right much less Ethical! I am going to keep this in the spotlight until they pass the Bill H.R. 1148 STOP TRADING on CONGRESSIONAL KNOWLEDGE ACT
https://www.popvox.com/bills/us/112/hr1148
This is exactly what the OWS movement is about! The Rich (Congressmen becoming a hell of a lot richer while in Congress than their annual pay should be) are corrupt! This Bill is the STOCK ACT and we must make sure they pass this Bill!!!! NOT FAIR and should be ILLEGAL for them as well...
scrambolo - ah but it is a "perk" until legislation is written and laws are enacted. And asking the foxes to rewrite the rules of the hen house is well.... not going to happen until the public (voters) make changes.
I do AGREE's 100% with your statement, it should be CRIMINAL!
@sdPaulson, What do you mean it's not the rich corrupt investment bankers and hedge fund managers, who in the world placed these trades, Santa Clause, seriously are you suggesting traders don't know where the info came from?
sdpaulson,
Yes, it is, but the noun "perk" just somehow, to me, makes it sound all nice and tidy and clean, when de facto it is anything but!
sdpaulson, 100% correct. It is not the just the rich screwing us, it is the lawmakers also. Keep in mind that one high and mighty party is coloring wall street at the crooks. This is pathetic and despicable. This is no different than insider trading. The only difference is that the people doing it would have to pass a law banning it. We all know that is going to happen.
You mean BOTH high and mighty parties.
do any of you think for one min , that maybe why obama put off the keystone pipeline decision until after the election, was so he and other polititions would have enough time to go out and buy up land in the area, and only agree to useing a route that includes the land that they bought so that they can sell row to the pipeline at a huge profit?? im just sayin' or maybe to the benifit of obamas good buddy warren buffet?? could be some of that old fashioned tit for tat goin on there do you think??
scrambolo - I thought "perk" would raise ire of the reader..... but I'm sure that tidy-clean feeling is exactly how Congress views it (at least outside the 6 sponsors of legislation against this).
Mark-3147899, start with "who" are responsible for the legislation and laws (Congress) allowing bankers and hedge fund managers to operate as they do.
Yes someone placed these trades, but it was a member of "CONGRESS" doing it "LEGALLY" under CONGRESS'S special rules. Repulsive isn't it that a rich member of Congress made bank with insider info! I also don't doubt other members in Congress profit from similar dealings.
I'm afraid your corrupt bankers and hedge fund managers are completely off the hook in this instance..... or ANY time they do business as LAW (Congress and GOVERNMENT) dictates!
Hey, good stream all!!
...... so was the "Capital Gain" taxable?
sdpaulson, if you think this somehow takes the "RICH" you're talking about off the hook you need to go back to kindegarten. The problems we face are all over the place. They come from the left and from your obvious preference the right. Your tactic of trying to deflect the blame is pure bull@!$%#. The blame lies in many places.
Both parties are corrupt!
That is exactly it Nikki. I'm tired of when one side gets tagged the other, or ignorant supporters of the other side, tries to point the finger at them like they have nothing to do with the problem.
I'll bet its bad to lie to the "liars" in Congress.
You want to stop congress from making the rules that make a profit?
You want to stop corporation and big business from controlling congress thru lobbyists?
You want citizens to decide how profit is spread?
REMOVE GOVERNMENT REGULATION.
If so called Third World Countries can use the power of citizenship to overthrow a dictator using demonstrations (illegal in those countries and legal here), and social media......why do we need our elected officials to regulate commerce and business if we can control ourselves?
WE THE PEOPLE decide where we purchase goods and services, why must it be regulated and controlled by congress (then big business gets bigger by lobbying those officials to "bend" the law in their favor)? We can decide what we want to purchase, who we want to purchase from, and who we want to trust.
EPA is a joke and a waste.....we could use demonstrations, social media, etc. to communicate what companies are dirty or products unsafe.
FDA......why cant we decide for ourselves what pharmaceuticals or what foods we want to purchase from whom?
TAKE BACK THE POWER.....remove government regulations, then Elected officials answer to their constituents and business only answers to thier consumers.
sdpaulson wrote: "I'm afraid your corrupt bankers and hedge fund managers are completely off the hook in this instance..... or ANY time they do business as LAW (Congress and GOVERNMENT) dictates!"
Like I said, back to school for you. Just who the hell do you think has been lobbying them and pressuring them to deregulate? And who has been most responsible for deregulation? Our government is supposed to be about balances but it has become about extremes. Left extremes or right extremes and both are bad news.
Paul Neale, you're a funny man.
It sounds funny.....but why wouldn't it work? If uneducated peoples in 3rd world countries can control their own destiny with powerful governments....why cant we do the same with our government AND businesses?
Now obviously we need some oversight such as SEC, and some aspects of the interstate commerce.......but we do not need this much regulation.
What deregulation do you speak of? and back to school for you, government was not created to regulate business. Weak people fell victim to politicians promising social and economic justice, or people felt bad for a group, or children....along comes a politician...... Oh I can fix that for you, I will pass a law so that the smart and all knowing power of congress will regulate and assist you. Before you know it an entire class of people is on the "teet" and hooked and a vicious cycle of whatever party is in power playing politics and taking private dollars to regulate commerce.
good comment Nikki. this isn't about liberals or Conservatives, it's about the corruption in both parties, and how it is rampant in Washington. the American people have lost all faith in their elected officials, because everyone knows the only thing they care about is how well they can line their own pockets while they are in office and how well they can position themselves for something better when they leave office.
although I have to admit, I can't stand Pelosi. she needs to be run out of washington on a rail
Woof, our problems "all over the place", I'll bet everyone single one has beginnings in "CONGRESS", (INCLUDES both sides - for EONS). Thus my use of the word "CONGRESS".
Fact is that a vast majority of the time, "Rich" are simply the product of those utilizing the enacted legislation/laws of CONGRESS and GOVERNMENT to their advantage.
What is particularly distastefull about this article is that CONGRESS has a different set of rules for itself. Congress has far more inside information to trade on than bankers, hedge fund folks, and even the rich companies do because they are privy to inside politics, committee information, legislation that can effect "stock price" or company performance.
Woof..... there's NO deflection! Look at it objectively and you'll see that it's really CONGRESS on the HOOK and we the voters ARE the root of the BLAME. Election, after election, after election, after election, etc......
Pelosi....... nope, don't care for her a bit. This article just high lights her hypocritical, holier-than-thou, I'm richer than you, I know what's best for you, smuggness even when caught doing something legal albeit less than ethical in the public eye.
Paul Neale, government is indeed created to regulate business as one of it's primary functions. YOU SIR seriously need to go to school with sdpaulson. BTW, the deregulation I speak of was the wide deregulation that took place under Reagan. Oh, and before you want to go there since you're obviously a moronicly very right winger, I voted for him and was with him on it. Since then you get all the explotation of that deregulation that has taken place. If you think just the power of demonstration or voting with your feet is enough to keep it all in check you're a complete fool. How has that worked out lately Paul? Oh yeah, it managed to get BofA to not charge their new debit card fee. Most of the time it doesn't work that way though and they all decide to line their pockets with the money from the new idea. Oh, and once again, I suggest you look up the functions of government because regulation of commerce is a primary one. Maybe not to your foolish ideals of government however. Your silly last paragraph explanation shows your lack of understanding.
slpaulson, one statement kills your notion. Lack of regulation doesn't make financial instituations ABUSE their positions and operate in exploitive ways to line the pockets of it's upper management. Sorry, you fail.
Bingo WOOF you finally got the article! Abuse of "her" (Pelosi's) position and operated in exploitive ways to line the pockets.
LOL. No sdpaulson, I didn't finally get the point, I knew the point all along and knew the point long before this article. There is no "BINGO" moment. However you fail to get my point because you're myopic and are deflecting blame because you're a typical ultra rightie. Your link to newsmax confirms that. I despise both left and right extremes as they both continue to ruin this country. The right sided one you are on attempting to deflect blame from because of Pelosi's actions and the left sided one that like's to play that it never partakes in business like the ultra right does. You and Pelosi are equally full of it. The both do the same things but simply present a different facade.
Bottom line here is that Pelosi didn't need to "fire back" at all. She's done nothing illegal. I believe her response came from her conscience (yeah, she likely has one, believe it or not), and she knows deep down that her conduct is wrong.
What she (and the rest of them) are doing is UNETHICAL, and, in my opinion SHOULD be illegal. This is just ONE aspect of our lawmaker's "above the law" "fringe benefits" that need to be greatly reigned in.
Start writing and talking it up, everybody! NO change will occur without complaint.
Yoshi
Mike-1817409,
Thanks for the link! I just joined and sent my support for the bill.
Martha went to jail cause she was a very public figure with no political clout.
Woof - let me direct you back to the initial posting. I'll simplify and rephrase my points for you, 1) There are two standards in America - one for Congress and one for the rest of America. 2) The root "BLAME" I am talking about is with the VOTERS......
If you object to "Newsmax" here's another site: http://www.politico.com/news/stories/1111/68271.html ..... my points remain the same though.
What is wrong as stated in BOTH (Politico and Newsmax) sources is that members of Congress can and do use their positions for personal gain. Those gains are illegal in the private sector. Thus the double standard!
My third point, that you made for me was with your Reagan support and subsequent deregulation vote that came out of CONGRESS. Point: 3) our issue's begin primarily with/in CONGRESS - and you'll agree that businesses took full advantage of that.
I also disagree with extreme right and left and agree those factions are pushing the country to the brink. It's up to you and I as voters research candidate thoroughly, know what they stand for, know their records, know their experience, and then vote accordingly to correct the problem in elections!
Once again my complete comment is missing...not collapsed but missing.
Tyler...would you mind please bringing it back?
Congress plays us all for fools but few know this truth. It is outrageous that they aren't subject to all the laws they write to apply to the peasants, that's the rest of us that aren't members of the ruling class. They also exempt themselves form the laws against sexual and racial discrimination that they pass and impose on the rest of us. This is a scandal and we should demand equal treatment for all and not special treatment for politicians.
This just goes to show that no politician can be trusted except to pass legislation that benefits them while possibly throwing a chewed bone to those who elected them.
Time to "DRAIN THE SWAMP", Mrs. Pelosi. And.....you may start with yourself.
Yep, and now everyone knows why these turkeys spend millions campaigning for a $ 174,000/year Congressional job:
It is time for someone with guts on the Congressional floor to submit legislation making it a Federal crime to use information received during their tenure in Congress to make a profit. Then we could see who the crooks really are when they vote against the legislation.
Further, it would be very interesting to see how much each Congressional member is currently reporting on their IRS returns and compare that to how much income they receive PRIOR TO BECOMING a Congressional member.
Finally, it would be EXTREMELY INTERESTING to find out the financial records of our SENIOR ELECTED OFFICIALS (White House) and ALL Cabinet appointed positions.
Small wonder that most of them are millionaires when they are finally booted from the White House or Congress after an election.
Re-post....the devil made me do it !!!!
I guess when Pelosi said she was going to drain the swamp of crooked politicians in the House she conveniently forgot to include or intentionally skipped herself.
Soldiersdad, you are totally wrong. The democrat party and the liberals have tried to paint wall street as crooks and trying to associate the Republicans with them. I have no seen anywhere in the news that the Republicans are painting Wall Street as crooks, only the democrats. By far, it is only the democrat party. Even though it is wrong and unethical for either party or member of our government to conduct themselves no differently than what we put people in jail for on insider trading, it is hypocritical that almost always the democrats paint Wall Street as crooks and then conduct themselves the same way.
I stand by my statement. Members of BOTH parties are guilty of this. The name calling and finger pointing is just politics as usual by both sides.
in reply to woofgooba 2.3 way to go on a personal attack versus discussing specific topics of points. and for the record I am not a right wing nut, but not about to debate someone that chooses to go on a personal attack with someone that does not agree with them.
Best of luck in attaining a maturity level.
Question: Are the elected positions considered fiduciary positions? If so, they insider trading may indeed be illegal. I would also think the Immunity coverage granted the elected and their staffers should be reformed especially regarding the errors and omissions they are allowed without prosecution and personal accountability.
What is being missed is that congress has considered itself to be above any laws it sets for others...their own paper work shows it. As for insider trading...have no doubt in my mind they do it..most all of them,,,they are all millionaires after all..and heavy in the stock market..along with the fact that they all get monies from lobbyist representing that same stock market.
Woofagooba why are you you were trying to attack some one please re frame from telling some one to go to school. Every one is entitled to their opion weather they went to school or not. It's idiot's like your self that want to attack people on their opion that makes you look like a wantabee dumb azz.
Mark-384387
"Even though it is wrong and unethical for either party or member of our government to conduct themselves no differently than what we put people in jail for on insider trading, it is hypocritical that almost always the democrats paint Wall Street as crooks and then conduct themselves the same way."
Great point. The dems are trying to stand on a pedestal while doing what they preach to others not to do. The dems try to say that the repubs are all about the money, yet the wealthiest in congress are dems along with the wealthiest in the nation.
Bahaha Pelosi fires back, If you saw the 60 minute report her jaw almost dropped when she was asked the question at the press conference. Its so obvious that they all trade for thier own personal gain, yet lie about it.
Time to clean house as much as we can and pass the Stock act that makes it illegal to use information in closed door sessions.
No wonder such a common sense bill only got 6 co-sponsors.
Its so obvious that they all trade for thier own personal gain, yet lie about it.
I would have invested in VISA IPO too, regardless of being privy to information about credit cards, so what's your point?
Yep ! When he asked that question she instantly got that "I'm busted", deer in the headlights look on her face. She knew she'd been caught. The others are much better liars because they never missed a beat denying their wrongdoing.
FactoftheMatter
The point is that you didn't have access to the fact that the bill to control the Card Companies was in the house and it was dying a slow death. Would you have bought into the IPO (or any of the 7 others) not knowing if the bill would fail? Would you have waited and missed out on the price? It is all about information and who get's it first.
The SEC adopted regulations 10B5-1 and 10B5-2 to stop insider trading. You can go to jail for it for a lot of years (just ask Raj Rajaratnam), but members of congress are exempt from the same rules that they require us to follow. Is there any wonder why we currently have government t the highest bidder?.
FactoftheMatter, WTF? You think that Congress should get a free ride on insider trading? Are you a Congressman? That is the most ridiculous remark that I've seen....
@Chris, EXACTLY, We must not let this stand, push For the Stock Act!!!!!!!!!!!!!!!!!!!
Yes, this is disgusting and Yes it involves both the past and present Speakers of the House. So, let's stop gloating over Pelosi's reaction. Let's see what Boehner has to say for himself...
Fact of the matter,
She would have had the ability to stall, or kill the bill. And buy the stock in the IPO accordingly. knowing that the bill would never get out of her House.
Heck of a way to work the system.
If you saw the 60 minute report her jaw almost dropped when she was asked the question at the press conference. That would have been a feat in itself considering from all the face lifts its virtually impossible for her jaw to drop open
She also never answered the question about her husbands pineapple plantation in American Simoa islands in which she vetoed the bill to make them union led. Guess she couldn't allow her husband spending that much for corrupt unionslike the rest of us has to do. She is another slimeball that has been in DC far to long!
Again I say, someone tell the Occupy Wall Street group that THIS is where their focus should be. They are camped in the wrong place!
How are you going to pass anything? They make the rules. The only way to change anything, is to get rid of them.
John 3.8
I never knew this! What a hypocrite she is.
It is a fact that 7 out of 10 richest in Congress are Democrats. And...most Repubs are already rich when elected, but Democrats BECOME rich AFTER they're elected!
Washington is just as much as corrupt as corporate America is. We need to definately clean house and get all freshmen senators and representives in there. They think they don't report back the the American people. The fact than you can more or less buy your way into Washington sickens me.
Mike
She sure came across as the Self-Righteous Bitch she is when she tried to elude the questions! And there are so many more like her in Congress!
The picture of her says it all! Oh CRAP I'VE BEEN CAUGHT WITH MY HAND IN THE COOKIE JAR AND THERE IS NO WAY OUT
This is and has obviously been going on for many years. If you want to put your voice to it, go to https://wwws.whitehouse.gov/petitions and sign the petition. They are going to ignore you, but at least you can say you did something.
A double whammy! They do insider trading to make millions and reduce their taxes so they don't have to pay as much and keep more millions.
It's good to be in Congress!
Our politicians must really hate the Internet, now their corruption travels the web at light speed....
What corrruption are you referring to? There is none mentioned in this story.
@Rick, Corruption is most commonly defined as the misuse or the abuse of public office for private gain!
If Insider Trading is not corruption, then I don't know what the hell is. Did you read the article or do you just not get it? This is Highly Unethical and reaks of corruption...
Barring any newcomers, is there anyone in congress who isn't a millionaire?
Good Question SONO,
First of all anyone with intelligence knows that news and newscasters commonly tweek reality for rating purposes.
2nd we all should know that 99% of politicians are corrupt and care nothing for us little folks once they are elected. They don't care as long as they get theri 5 star meals, SPA treatments, vacations every other month and free bennies.
Thus what I think should be altered in WASHINGTON DC IS:
No free bennies---if someone runs for office then they should do so for THE PEOPLE over that of a title, a false sense of empowerment and entitlement and free bennies. NO MORE FOR THIS COUNTRY AND WE THE PEOPLE CANNOT AFFORD TO PAY FOR THE PRIVATE JETS< MEALS>SS AND HEALTH CARE.
IF you wish to be a politician to represent the people--then represent the people not thyself or thy party.
2 debates only---1 between paty to define who they are and another between both parties. And then a final debate between the 2 party lead runners!
Politicians cannot invest in Wall street during their term in office as this alone would eliminate much of the insider trading.
No More Campaign donations---none---if someone wants to be President OF The UNITED STATES OF AMERICA THEN THEY NEED TO RUN A CAMPAIGN ON MERIT ONLY not on kickbacks and private deals. Yes, our campaigns are corrupt.
Also NO one campaigning must have any relationship, knowledge or business dealing with an OIL CORP. (Cheney--Haliburton--BP oil and gas hit it's highest price in history during that reign didn't it!)
All those running for this office or any must have a Law Degree and be a member of the American Bar Association --hence know the LAWS of this land, not just how to manipulate them to their advantage.
Maybe if these requests are fulfilled then just possibly The UNITED STATES OF AMERICAN CAN BECOME UNITED ONCE AGAIN.
If you had read the story Mike, you'd know that trading with inside information is not illegal for members of Congress, so while you - and I - may think it's inappropriate, it's not illegal, not a mis-use of anything, and not unethical.
Rick, you must work in congress. Everyone else in AMERICA can see this is wrong. So, folks, go to https://wwws.whitehouse.gov/petitions and tell them so.
And, in other news, fire remains "BAD".
I would have said something like "In other news, oxygen remains vital to survival", unless I misunderstood your comment.
No, No, No, water still the liquid ingested most often by humans.
That was a great picture. Classic "botox eyes in the headlights" moment.
Frankenstein.
More like Dr. Frank-N-Furter from Rocky Horror!
You know the old saying..
"You cannot get the water to clear up
Until you get the pigs out of the creek."
Remember this come November!!!
Unless the law changes, we'll just replace pigs with more pigs. Go to https://wwws.whitehouse.gov/petitions and click the big green button. It's an up and climbing petition.
Members of the House and Senate are EXEMPT from "insider trading" rules and laws. Don't like lt? Too, bad. GET INVOLVED. FORCE the change in our currnet laws.
Yoshi
Yoshi, I certainly will!!!! But I probably won't have to now that the cat is out of the bag, OWS will do that for me...I will make sure they do!
Is it begining to dawn on you why people are "OWS"?
OWS is part of the solution. Here is something you can do in just a few minutes. Go to https://wwws.whitehouse.gov/petitions and make your voice heard. They probably won't listen, but make it heard anyway. That's what OWS is doing. Take every opportunity to chip away at the problems. In fact, there are hundreds of petitions you can be ignored on, but you will have done something.
edgewater - Nope.... still haven't got a clue why anyone would want to associate themselves with OWS..... once again, the issue is with Washington - not Wall Street.....
So sad to see someone with such a high profile, a former speaker get nailed on insider trading. You just can't past legislation to enhance your stock portfolio - it's criminal and unfair to the American tax payer. Now we all have to burden higher credit card rates to pay for the few million bump in her portfolio. Her gain, America's loss.
Wonder why CNN didn't get the scoop on this? They sure gave her a platform this morning to defend herself. It is hard to hide behind that kind of insider move. It is hard to listen to a criminal speak in defense of their criminal actions, but we let her speak and maybe even allow her to spin the very act. However, America is collectively smartening up to crooked politicians and their days are numbered. We will fix this great nation!
I agree with most of what you said, but what we found, unless I complete missed what they were saying, is that it is not criminal. It is not illegal. Although "conflict of interest laws" exist in your local school board, your city government, and your state government, what we found out in this story is that the Ethics Committee, and your Congress failed to agree on, and there by failed to pass legislation that makes it illegal for a congressman to financially benefit from a decision before the house or senate. In other words it is completely legal for the banking industry to go your congressman and tell them we will contribute a million dollars to your next campaign if you reduce the restrictions on bundling these mortgages (for example). Then it is completely legal for the Congressman or woman to go in on the night before the vote, knowing how it will come out, and buy a ton of Bank of America stock, knowing that it will jump when news of the reduced regulations hits the street. Its not insider trading when a congressman does it. (Isn't that special). Insider trading laws do no apply to the lawmakers.
@MountainFighting,I Agree totally but I remind you that it is the ENTIRE congress and senate that gets this Special Exemption, not just Pelosi! She just happens to be the idiot that keeps it in the spotlight today! Push the Congress to pass the STOCK ACT...H.R. 1148
That's why her net worth went up $20 million last year. And she is working for those little people!!!
No, it's not illegal. Shine the spotlight on the bugs, and sign the petition. https://wwws.whitehouse.gov/petitions
I respect and admire Ms Pelosi's record while being Speaker. It is second to none.
This has nothing to do with that, this is insider trading and I believe this goes on all the time, otherwise, why would these special exclusions exist that make it possible for them to do this? Is this another hidden benefit of theirs? I believe this is another detail we need to demand be fixed.
I also believe Boehner is guilty of this as well. I believe they all participate in "it's my turn now" and take every advantage they are allowed. It's time to take a hard look at how Washington runs and FIX IT ALL.
Look at the Whitehouse.org and look for the Fix Congress Now petition. Sign it and make others sign it too. We need serious changes now.
Second to "NOTHING' maybe............!
B Garcia:???? What alternate reality did you come from????
Yes we DO need change RIGHT NOW! It could start with Polousy's and Obemmer's resignation!!!!! Yes, A VERY good start!!!!!
Creedmoor are you a moron. This has nothing to do about Pelosi and Obama and everything to do with the rules in Congress which allows members of Congress to do this legally. Typical conservadick... blame the Democrats...
I don't respect any politician who claims they have to pass a law to see what's in it. That's just pure lies, they know what's in it and just don't want the public to know til it's a done deal.
Are you for real? She is a complete and utter moron, - as you also are.
Did anyone actually read the story--yes, Boehner is involved as well. It all stinks.
Trust the Whitehouse to make real change? Sorry. No. They had their big chance and they fluffed it away. They're done in my eyes. I'll keep voting third party and refusing to buy into their lies. You keep hoping for change from Dumb and Dumber.
O fCourse it s another hidden bennie---why else do they get away with it and why I proposed what I did above.
WASHINGTON DC IS CORRUPT AND UNTIL THEY LOOSE THEIR ENTITLEMENTS IT WILL REMAIN SO!
The REAL reason this was shown on CBS is that their ratings and credibility are at the bottom. They have finally had to resort to reporting the real news and not continue to give passes to the democritic party.
CALIFORNIA WAKE UP!
How much longer are you going to elect flakes, like Pelosi, and Boxster and the likes.
back to my Tall Iced Tea & Stogey
Marie-451479, THOLDEM, you're suspended for a day for violating #1 of the Code of Honor.
So, you're saying that YOUR thief is OK... it's the OTHER GUY'S thief that is bad. Right?
You respect and admire someone who says, Pass the bill, then we will read it!!!!! You have to be so liberal, that you keep your brains in your azz
At least she's firing back. I mean, as opposed to weeping about it. Like the current Speaker.
Yeah, that's nice. She's caught red handed but she'll just keep lying to save her rear. That's a real admirable trait. Not that I expect better elsewhere but people around here have an odd set of values and morals.
Did you forget about Boner?
If I was Boner, I'd have changed that name a long time ago. Of course I know a guy named Booger (spelled differently but pronounced the same) who hasn't changed his name either, along with people named Snaught, and Flem.
I'm just waiting for her eyeballs to pop out. They look like they're getting close. Maybe another question regarding personal stuff might do it.
It's time to get rid of the Establishment Politicians from both parties. The congress and senate were never set up for people to make careers out of being in office. Time to clean house in 2012.
Hope this back fires.
This is the Nancy Pelosi standard response. I have resigned myself to the fact that this woman was elected simply because everyone with an alternative lifestyle or thought moved to particular place in this country. What I do not understand is why the Democratic party allowed her to attain such influence and power.
then why was Boehner elected? According to the story, he's involved as well. I guess he cried so much, everyone felt sorry for him.
Vic, she's the best the democratic party has to offer! Thats the reason.
Ah John, Ahem - Perry, Bachmann, Cain! Nuff said?
Ah Dan, hmm, Frank, Dodd, Schumer, Rangel? Nuff said!
It's all fun and games until you get caught "Insider Trading"
They should call Martha Stewart for advice.
Here's a better story for 60 minutes...There is no gold in Ft. Knox...Why else would the solders guarding it are not given any ammo...It's because there is nothing to guard..
Secondly, why hasn't the value of this "gold" gone up or down in value according to the last 5 audits..Very interesting....can anyone explain this..
Who in the hell cares about gold any more? Ok, so the Egyptians used a bunch of it, and the Maya and Aztecs thought it was an interesting metal, but that about it for its worth. We might as well base our currency on river rocks that are good for skipping., At least that is some kind of value. Gold is good for some electrical connections and has some medical uses, but beyond that, it is just for jewelry. Who is the genius that decided to base whole economies on it? When the world comes crashing down, which apparently is why all you knuckleheads seem to want gold, good luck eating, drinking, or shooting it.
As far as the Pelosi deal, who cares? All if does is show she acts the same as the boys in the room, yet she doesn't cry at the drop of a hat.
At least we can burn money to keep warm.
Why would this be a surprise to anyone? The political class from both parties are not in Washington to represent the people. They are there to become wealthy. They also get to collect incredibly generous taxpayer provided retirement and health care benefits. At the same time they planning to cut the social security and Medicare benefits that the people who sent them to DC paid for.
Good post Rev. Time to get rid of the Establishment Politicians and vote them out of office. Both parties need a house cleaning. They obviously are ruling against the will of the people.
Pelosi's mouthpiece should understand that no matter how much pelosi feels for those who are abused by big bad credit card companies, she still isn't entitled to inside information. The real problem is that she is incapable of telling the truth and is arrogant enough to believe her own lies.
Robert - you missed 60 minutes right - they also brought up the beloved Boehner and Republican, Rep. Spencer Bachus
I saw the piece on "60 Minutes." The rules need to be changed. It was noted each time a republican was mentioned that what they did was NOT against the rules or against the law.
What Pelosi did was not against the law either. That's the whole point of the story, knucklehead.
Oh, so this why we can't change the capital gains tax rate.
Sorry Peg that you can't figure it out. We saw the total interview and Boehner uses a blind trust. He has not decision making. That's unlike Pelosi, Reid and several others use. Pelosi said she didn't break the rules, she just acted unethically.
Yes, I am sure that the democrats are 55.98554% guilty, while the republicans are ONLY 55.98553% guilty. Anybody else out there starting to feel like every single congressman, senator, senate page, senate janitor, senate toilet plumber, and every one else within 135 miles of DC is part of the 99%, while the rest of us out here (both republican, and democrat) are just plain ole forgotten about? Can you believe we are three years out from the 2008 recession and we still don't have a bill for jobs? Gas is approaching $4 a gallon and we still don't have an energy bill? At least we have "In God We Trust" on our dollar, Lord knows he's the only one that trusts the dollar, and yet another so called "Free Trade" agreement. Who the hell is running this place? I'm gonna buy some love beads, grow my hair long, and finally take Merle Haggard's advice and Move to New Zealand. Bye bye Muskogee.
Dan, don't forget that the democrat controlled senate has not passed a budget plan for over 900 days now. Check and see how much legislation is sitting in the senate waiting for Harry Reid to bring it up for a vote. Both parties are governing against the will of the people. Every time the congress passes a Continuing Resolution they just keep perpetuating the increased spending.
So. .....
Put ALL of your stocks, bonds, etc in a blind trust then Ms Pelosi.
The POTUS is required to do so, what makes you so much more likely to NOT abuse your power and position?
WHAT??!!! You expect them to live by the same rules they force on us??? no.. wait... that would violate their hypocrit's oath..
Why is the media ignoring the $100 MILLION Boehner made doing the same thing?!?
They didn't. read to the end of the story. The TV show covered it much more extensively.
?
Check your facts, Jack! Ignorance IS bliss, huh?
cant believe it dem gets busted and you got to go look ... a repub did it to ...lol
Because he uses a fund not changable by him. But that's how Harry Reid made his money. They asked Boehner and if they would have shown his total response you would maybe understand. Sorry it is over your head.
Clean house in 2012 you know they all need to go Republicans and Democrats .
Too bad ballots dont include "none of the above."
But they include Independents and other third parties.
So in other words, we have to research hard into who is running in our districts. Because the Republicans and the Democrats have all the money. You will see thier commercials on TV, thier full page ads in the paper. Unfortunately, the people most qualified for representing our districts don't have the money to run for congress.
Everybody please do your homework, look up voting records, look up who else is on the ballot before blindly voting for the person you saw on TV the most.
That's the only way we'll ever get anything changed. Straight ticket voting is just pure laziness.
Only idiots vote "straight ticket".
History will prove or disprove the accusation that she and other members have abused the public trust for personal gain. A special prosecutor should be appointed to investigate the stock transactions of members over a broad period. The actual results of Members of Congress, especially the Senate, indicate the use of insider information. While the House as a whole may not be as successful as the Senate, some members seem to have excelled. The former Dennis Hastert made $2M on a quick RE deal. I guess it's a speaker's prerogative?
People, please read the story and comprehend. Trading on insider information is not illegal if you are a Member of the US Congress - House or Senate. Like you I am outraged that it is not illegal - but it is not. A congressional investigation would yield nothing since no law is being broken. What we should all do is demand that our representatives and senators pass legislation (which has been languishing in the House for years) that does make this illegal. And we should also make it illegal for all levels of government - local, state and federal - to vote on their own pay raises and benefits.
Like that's gonna happen no matter how much we scream and yell. Those clowns are not about to derail their gravy train. We need new people to make the changes. To keep electing the same two parties is simply doing the same thing and expecting a different result, the definition of insanity. New faces and new blood with no party affiliations is a step in the right direction. These two parties, one or the other have been in control for 158 years and brought us to where we are today. It's past time for a change.
Remember the only difference between a career politician and a welfare recipient is the expensive suit.
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And this is news how? Corruption in Washington? Dems and Repubs? And anyone is suprised? When the hey are people going to learn that they all have to go. Vote in all new ones EVERY election and this would stop. And we the people would be we the people.
Pelosi's eyes are held wide open due to her skin tight face lift. They're even wider in this story. Imagine having to defend yourself from the liberal media!
Yes, that's why Boehner is crying too.
The issue is not whether or not Ms. Pelosi has helped consumers reign in credit card companies but whether or not members of congress should be allowed to be exempt from the laws regarding insider trading that is illegal for everyone else.
I always wondered how people go to congress, make 170k a year and retire with millions. Now we know one of the reasons. And congress should immediately stop this practice.
My congressman, Charlies Dent, appeared briefly in the piece saying that he is not focused on this issue. I think they should all get focused soon.
Just shows that OWS is right that corporate money is destroying our democracy and that Wall Street is the root of the problem.
Well put, John - and you are so correct. This is not about political party, this is not about what Pelosi may or may not have done to benefit the consumer, etc., etc. -- it is about taking advantage of position and information for personal benefit. Her arguments are smokescreen, just as Boehner's denial is a smokescreen. The system, my friend, is BROKEN!
The idea that Congressmen should be 'exempt' from the laws they pass is SO corrupt! Get that one changed and would certainly help the honesty issue. As for Wall Street being responsible for our economic problems...yes, but only hand-in-glove with the corrupt government they are allowed (encouraged) to buy.
Your post made perfect sense until this sentence. I think what you meant to say was:
"Just shows that OWS is wrong that corporate money is destroying our democracy and that Washington is the root of the problem."
John,
you failed to see the entire picture. Wall Street did not make Congress types invest on inside knowledge. They did it all by themselves. Wall street is not blame free in the situation the US is in, but they could not have pulled off any of the things they did with out help. There is oversight in place, but our Congress and oversight committees are the source of greed that turned their backs on the bundling of bad debt because THEY could gain from it. F*** the common investors and the working people. Congress made money through their own sneaky investments as well as kick backs in the form of campaign contributions.
We need to reign in Congress and the White House NOW. Term limits for all, no campaign contributions from ANYONE. Only money supplied from taxes for candidates. No gains from the position (book deals, stock deals, etc) until the politician has left office. No lifetime pay, Cadillac health insurance or any other benefits INCLUDING secret service details. After this happens, only those sincerely interested in their constituents will even run for office.
No elected official should be exempt from any law or regulation imposed on the general population. In the intrerest of good government and public health and welfare all elected officials for State and National Offices should have all their investments put in a trust operated by a trust officer who is selected from a pool of competent folks unknown to the elected officials. /Kinda like them allowing all of us to have our grievances heard by arbitration folks who are unknown to the people but well known to corporations who are allowed to impose the system on customers, investors and employees. Always wondered how Clinton comes out of dirt poor Arkansas does nothing but work on political campaigns and runs for office in his 20's and ends up a mega millionaire. Idiots would have us believe that in a few spare hours while not attending to his awesome elected duties he did such sterling legal work that he "earned" those millions in fees. Same for Obama. Course Papa Bush through the drinking club at Yale built a fortune in oil and Jr, Bush inherited his $$$. So I am bi-partisan in my disgust of conmen and charlatans. Add Pelosi and Beohner to the list.
This is just the tip of the iceberg. This stuff is EXACTLY the reason the parties try to pit the citizens against each other, to cover up and distract from what is really going on in DC. Wake up all you rabid party defenders of both sides and see that the Team Mentality is what fosters and allows this kind of thing. When people believe that their "team" can do no wrong and try to pin all the blame on the other "team" it simply distracts the public from the real problems such as these so that they may continue while the public fights among themselves. Straight ticket voters are the biggest enablers of this behavior.
Now I have a 'better' understanding of why so many criminals go into politics. Regardless of party affiliation THIS needs to be changed. Voting in new members of Congress while laws like this are in place will not change anything.
@John, BRAVO
The issue is that Wall Street is SUPPOSED to be for business and it should!!
The Government is SUPPOSED to support business but protect the little people by making sure that businesses follow the law and enact laws to reign in business when it is out of control. Ex. Preventing monopolies and making sure things like medications are safe.
Government is not supposed to be in the pocket of big business and have their hand in businesses pockets! That's why OWS should be directed at the government to make it do what government should be doing.
Have any of you "regular guys" ever called your broker and tried to get into an "IPO".... it doesn't happen.... that's where this is "slime"... they buy at the offering price and sometimes it doubles at the opening...
And what does that have to do with Pelosi or any other member of Congress benefitting from insider information? The whole bunch of them ought to be dragged out into the street and pelted with garbage.
I'd prefer rocks to garbage but hey, it's a start. Gee, I wonder why this country's so in debt and can't even pay the deficit down, even by a little. Social Security being threatened by these scum bags.. Our tax dollars being pocketed by these pr*cks! These a@@holes in Washington are too busy raking in the money for themselves instead of prioritizing their "actual" jobs.. You know.. actually taking care of this country... But, why work when you can just vote yourself a pay raise for doing absolutely NOTHING!! And take month long PAID vacations... Boy, it must be nice.. Gotta just love the good ol' U.S. Government. What a joke!!!! The only problem is that no one's laughing, except for them.. All the way to the bank.
Nancy felt that her position as the late speaker of the house entitles her to a certain amount of perks not available to ordinary citizens. Past and current speakers of the house,members of congress and the executive branch should be required to put any investments in blind trusts that also are not managed by their spouses.
It is a public office and that is who you are supposed to serve and why their is a salary. Financially gain based on decisions before you, in any public office, should be illegal!!!!.
Hammill also criticized CBS' use of one source for the report, conservative author and editor Peter Schweizer.
Herman Cain was accused based on anonymous reports of undisclosed events and it was called journalism. At least CBS had a source, and specifics.
Finn, not true! Cain was not accused in anonymous reports, but by people he knows - he signed joint agreements with them
Finn, it is no different than Obama and his sexual harrashment cases. He paid out five figures several times when he was looking for a boyfriend.
During Barack Obama’s tenure as the president of the Harvard Law Review in the late 1980s, at least two male student editors complained to colleagues and senior university officials about inappropriate behavior by Obama, ultimately leaving their positions at the journal, multiple sources confirm to THE KANSAS CITIAN.
The men complained of sexually suggestive behavior by Obama that made them angry and uncomfortable, the sources said, and they signed agreements with the university that gave them financial payouts to leave the journal. The agreements also included language that bars the men from talking about their departures.
In a series of comments over the past 10 days, Obama and his administration repeatedly declined to respond directly about whether he ever faced allegations of sexual harassment at the journal. They have also declined to address questions about specific reporting confirming that there were financial settlements in two cases in which men leveled complaints.
THE KANSAS CITIAN has confirmed the identities of the two male journal editors who complained about Obama but, for privacy concerns, is not publishing their names.
White House spokesman Jay Carney told THE KANSAS CITIAN the president indicated to White House staff that he was “vaguely familiar” with the charges and that the university’s general counsel had resolved the matter.
Obama was president of the Harvard Law Review from late-1988 to mid-1989. THE KANSAS CITIAN learned of the allegations against him, and over the course of several weeks, has put together accounts of what happened by talking to a lengthy roster of former university officials, current and past students and others familiar with the workings of the journal at the time Obama was there.
In one case, THE KANSAS CITIAN has seen documentation describing the allegations and showing that the university formally resolved the matter. Both men received separation packages that were in the five-figure range.
On the details of Obama’s allegedly inappropriate behavior with the two men, THE KANSAS CITIAN has a half-dozen sources shedding light on different aspects of the complaints.
The sources — including the recollections of close associates and other documentation — describe episodes that left the men upset and offended. These incidents include conversations allegedly filled with innuendo or personal questions of a sexually suggestive nature, taking place at hotels during conferences, at other officially sanctioned journal events and at the journal’s offices. There were also descriptions of physical gestures that were not overtly sexual but that made men who experienced or witnessed them uncomfortable and that they regarded as improper in a professional relationship.
UPDATE: Third man comes forward to AP.
The AP:
A third former editor says he considered filing a workplace complaint over what he considered aggressive and unwanted behavior by Barack Obama when he worked under the president in the 1991 at the University of Chicago. He says the behavior included a private invitation to his apartment.
He worked for the University of Chicago when he was a Visiting Law and Government Fellow. He told The Associated Press that Obama made sexually suggestive remarks or gestures about the same time that the two editors of the Harvard Law Review had settled separate harassment complaints against him. The employee described situations in which he said Obama told him he had confided to colleagues how attractive he was and invited him to his apartment outside work. He spoke on condition of anonymity, saying he feared retaliation. The White House declined to comment.
Stumble! for WP
This has absolutely nothing to do with Congressional members trading on inside information.
Take your agenda to another forum.
sounds like insider information to me........
Sounds like a libel case against the poster to me.