Any Truth to Insider Trading Charges?
Are accusations that congress engages in scandalous insider trading have any truth behind them? Sure they do - just look how quickly congress is moving to fix the situation.
On Wednesday, Sen. Joe Lieberman (I., Conn.), who heads the Homeland Security and Governmental Affairs Committee, said he would hold a hearing in the Senate on... legislation sponsored by Sen. Scott Brown (R., Mass.).
Lawmakers in both parties began rallying to the bill this week after CBS’s “60 Minutes” aired a program Sunday highlighting the lack of clear insider-trading rules for members of Congress and their aides.
The piece featuring Peter Schweizer, author of Throw Them All Out, aired Sunday - and they're already talking about hearings? Wow. Those are some guilty people.
Momentum for insider-trading legislation continues to grow in Congress as a top Republican lawmaker announced Thursday that he will schedule the first-ever House hearing on legislation to prevent lawmakers from trading on nonpublic information.
The announcement from Rep. Spencer Bachus (R., Ala.), chairman of the House Financial Services Committee, is the latest in a string of events this week that have breathed life into the long-stalled bill.