"Throw Them All Out"

This was also the catalyst for a 60 Minutes show.

Quote

According to a new book called Throw Them All Out by Peter Schweizer, as relayed by Dave Weigel at Slate, Rep. Bachus made more than 40 trades in his personal account in the summer and fall of 2008, in the early months of the financial crisis.

The fact that Bachus personally traded while getting private government briefings is bad enough. The fact that he was the ranking member of the House Financial Services Committee at the time is simply outrageous.

In one case, the day after getting a private briefing on the collapsing economy and financial system from Ben Bernanke and Hank Paulson, Rep. Bachus effectively shorted the market (by buying options that would rise if the market tanked.)

A few days later, after the market tanked, Bachus sold his position and nearly doubled his money.

If a corporate executive or Wall Street trader did this--cashed in personally after getting private, non-public information from his work--Rep. Bachus and every other member of Congress would be up in arms about corruption and insider trading.

I remember when Cap & Trade national legislation failed. So many were poised to lose millions due to no cap & trade market...

Was it ever about saving the environment? Or is it about rolling and destroying the American people?

National government savings account? How long before all your savings were gone?

read more here - http://finance.yahoo.com/blogs/daily-ticker/outrage-day-insider-trading-congress-170308910.html

book here - http://www.amazon.com/Throw-Them-All-Peter-Schweizer/dp/0547573146/ref=sr_1_1?s=books&ie=UTF8&qid=1321529158&sr=1-1

Wouldn't it be great if every American could do this? And, create the conditions that allowed just a select few to prosper all the time? Get lucky?

What kind of deals does the Federal Reserve make?

Those that create the problems seem to be in a good position to prosper from them...

just my humble opinions