Friday, November 18, 2011

Follow the money

Friday, November 18, 2011
SF Examiner

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Follow the money
Last Sunday, “60 Minutes” aired a report highlighting instances in which congressional officials reportedly bought stocks around the same time Congress was discussing legislation affecting those companies or industries. The show looked at the lucrative investments of lawmakers including House Minority Leader Nancy Pelosi, House Speaker John Boehner and Republican Rep. Spencer Bachus of Alabama.
Members of Congress reap huge profits using insider information in ways that could put any of the rest of us behind bars. But the politicians allow themselves exemption from insider-trading laws.
A new bill filed by Sen. Scott Brown, R-Mass., would make it illegal for elected congressional officials, their staffs and executive branch employees to make investment decisions from pending information that’s not available to the general public. It would also forbid them from spreading such information public for personal gain.
Ted Rudow III,MA Palo Alto

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