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Prosecutors Won’t Let Separation Of Powers Keep Them From Looking Into Alleged Capitol Hill Insider-Trading Ring

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It may not be possible to prove that Congressional aides were doing some insider-trading. It may not even be possible to prosecute them. But it doesn’t hurt to ask, right?

The SEC sent subpoenas to the House committee and Mr. Sutter seeking documents and testimony in the matter, according to documents made public by Rep. David Camp (R., Mich.), who is the committee chairman, and Mr. Sutter.

Separately, the Justice Department issued a subpoena to Mr. Sutter to compel him to testify before a federal grand jury at the U.S. District Court for the Southern District of New York, according to Mr. Sutter's public disclosure, which was included in the congressional record per House rules. Committee officials wouldn't say whether Mr. Sutter has testified. A spokesman for the Ways and Means Committee, speaking for Mr. Sutter, declined to comment….

It is highly unusual for the Justice Department to issue subpoenas to members of Congress or their aides, given sensitivities and legal barriers connected with the separation of powers between the executive and legislative branches of government. These subpoenas are the first formal requests for information to Congress involving a federal insider-trading investigation in nearly a decade.

House Panel Is Subpoenaed as Trading Probe Heats Up [WSJ]


So This Is Jim Cramer Talking About Jamie Dimon's Capitol Hill Appearance

"He didn't win. He's a loser. How? You lose when you go in front of Congress and you lose when you go out. Anyone that declares him a winner is wrong...He walked in a loser. Testified. Walked out a loser. And by the way, he agrees with me. He knows he's a loser with no control and doesn't even know what happened in his own bank...A loser. Crisis PR is psychiatry. You go in there as a guy who is stupid, you don't come out being smarter. You don't. You come out just as stupid...He's a loser...This is not Michael Corleone with Frank Pentangeli in the back of the room. This is not Nevada gaming licenses...He's a loser. It's okay, man. He's a loser. Maybe next year he'll be a winner but he is a loser. Okay."