We are so very shocked

Aren’t you? To think that our Congress members would personally benefit from their positions is just unthinkable — if you’re a moron. No, the real shocker is that it’s perfectly permissible under Congressional “ethics” rules:

One-hundred-thirty members of Congress or their families have traded stocks collectively worth hundreds of millions of dollars in companies lobbying on bills that came before their committees, a practice that is permitted under current ethics rules, a Washington Post analysis has found.

The lawmakers bought and sold a total of between $85 million and $218 million in 323 companies registered to lobby on legislation that appeared before them, according to an examination of all 45,000 individual congressional stock transactions contained in computerized financial disclosure data from 2007 to 2010.

Almost one in every eight trades — 5,531 — intersected with legislation. The 130 lawmakers traded stocks or bonds in companies as bills passed through their committees or while Congress was still considering the legislation. The party affiliation of the lawmakers was almost evenly split between Democrats and Republicans, 68 to 62.

Sen. Tom Coburn (R-Okla.) reported buying $25,000 in bonds in a genetic-technology company around the time that he released a hold on legislation the firm supported. Rep. Ed Whitfield (R-Ky.) sold between $50,000 and $100,000 in General Electric stock shortly before a Republican filibuster killed legislation sought by the company. The family of Rep. Michael McCaul (R-Tex.) bought between $286,000 and $690,000 in a high-tech company interested in a bill under his committee’s jurisdiction.

The trades were uncovered as part of an ongoing examination by The Post of the intersection between the personal finances of lawmakers and their professional duties. Earlier this year, Congress responded to criticism of potential conflicts of interest by passing the Stock Act, which bars lawmakers, their staffs and top executive branch officials from trading on inside information acquired on Capitol Hill.

3 thoughts on “We are so very shocked

  1. We have no government. Party does not matter. We vote for pre-sorted corporate employees. Hell follows…

  2. And now for something completely different (and very much off topic). Where’s Hillary? (It’s a game much like “Where’s Waldo” only lots more fun.) The Right in Paraguay staged a coup last week and threw Leftist President Federico Lugo out of office. Venezuela, Brazil, Argentina, Boliva, Ecuador, Cuba and Nicaragua all condemned the coup and recalled their diplomats from Paraguay. What did Hillary have to say about the coup? Nothing. Not a single word. 98% of the land in Paraguay is owned by 2% of the population. We call those people the 1%. Now, who do you suppose was behind the coup? Even Hillary should be able to figure that one out.

  3. I guess the Washington Post was a tad nervous about revealing which tech monster was invested in here (Apple, Google, et al …Server Farms, etc?):

    Rep. Michael McCaul (R-Tex.) bought between $286,000 and $690,000 in a high-tech company interested in a bill under his committee’s jurisdiction.

    (and by the by: I had the same suspicions about US Home/Fatherland involvement as regards ousting Paraguay’s president, Fernando Lugo ( http://www.sfgate.com/world/article/Paraguay-s-allies-condemn-impeachment-of-president-3659597.php ), Imhotep.

    In my opinion though, Imhotep, I believe you’re being (at the least) disingenuous to leave out the fact that Hillary would be conferring with her boss, Obomber on this (if not, at the least, including him in on the plans). Both of them would likely be conferring with the Bush Dynasty, or a representative of it, as the Bush family owns vast acreage surrounding what’s been stated to be one of the world’s largest fresh water aquifers ( https://en.wikipedia.org/wiki/Guaran%C3%AD_Aquifer ), the Guarani Aquifer ( http://www.guardian.co.uk/world/2006/oct/23/mainsection.tomphillips ), in Paraguay.

    No doubt, what’s been stated to be another of the world’s largest known fossil water aquifer’ s, ( https://en.wikipedia.org/wiki/Nubian_Sandstone_Aquifer_System ), the Nubian sandstone aquifer in Libya (http://www.nasa.gov/multimedia/imagegallery/image_feature_562.html ), had, at the least, quite a bit to do with Obomber and Hillary, et al’s recent, ultimately monstrous and deadly …pyrrhic …victory there.)

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