“…insider-trading laws don’t apply to Congress.” [WSJ]
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even if they trade on inside information i’m sure most of congress is too stupid to make any money
Hillary Clinton Turned $1,000 Into $99,540, White House Says.
WASHINGTON, March 29— The White House said today that in 1978 Hillary Rodham Clinton invested $1,000 in commodities futures and that the investment grew in 10 months of trading in the notoriously volatile market into a gain of nearly $100,000.
Doubling your $3500 investment with insider information is NKI.
It’s not the staffers prop trading four figures who are trouble. It’s the staffers dropping hints to hedge fund buddies/relatives, who are frontrunning legislation with hundreds of millions, who are completely killing it (and the rest of us).
P.S. Note how none of the staffers disclose how many $1000/hr phone calls they took while moonlighting as “consultants” to hedgies ostensibly just curious about public policy.
I don’t know, seeing Hill staffers with as much power as the Sen Majority Leader’s chief of staff sell out for just $3500 is pretty f-ing scary. Makes you wonder what they’d do for $100k, or $1mil. We could have bought Iraq for 1/10 what it cost us to invade it. Apparently the same goes for the U.S.
I0mukk Great blog article.Really looking forward to read more. Much obliged.