hypocrisy: insider trading in Congress?

[Ron B]

How can a Congressman making $174k walk away with millions a year? Well, some interesting and unusually good timing using inside info for stock trading/buying/selling...and it's "legal" (guess who wrote the laws).

Funny how many of them were dumping stock the day before the crash:

http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-inside-information/

 

[LagunaH1]

The company I work for has really clear and strict rules for stock trading precisely to avoid that anyone, knowing or unknowingly, ends up doing insider trading. Would be nice if that standard could be applied to everyone.....

 

[Bigunit]

Cotilo & I saw this on 60 Minutes last night & it made us sick to our stomachs! I guess if you truly want to live the American dream, we need to be elected to Congress!

Now, if the Occupiers were to adopt & rally around this issue, they would have a true, clearly-defined cause that many Americans probably would support, but I doubt that they have TVs in their tents and probably didn't watch this last night or if they did, they probably really don't care to have a clearly-defined cause anyway.
:gaah:

 

[Bigunit]

I just came up with an idea - let's plan an Occupy Washington, DC rally, drive our HUMMERS to the Capitol and occupy the halls of Congress to demand change and sit in the halls of Congress until our elected leaders either resign or change the law to prohibit and outlaw this kind of greed. Who's with me!

Now wouldn't that be something BUT it would never happen because the majority of the "99%" are week sheep!

 

[LagunaH1]

I'm pretty sure the majority of everyone would choose to misunderstand us if we did. They would choose to see our trucks and nothing else, and spin stories about how we are "Special interest" who just want cheap gas and to pollute the environment and run over babies with our trucks.

 

[kd7irm]

We just need more sheep dogs!

The good thing is most sheep dogs drive Hummers!

Im with ya.

Sent from my DROIDX using Tapatalk

 

[Ron B]

Now, if the Occupiers were to adopt & rally around this issue, they would have a true, clearly-defined cause that many Americans probably would support, but I doubt that they have TVs in their tents and probably didn't watch this last night or if they did, they probably really don't care to have a clearly-defined cause anyway.

it's hard to have a clear issue when there is so much bullsh*t to blame for where we are now. This kind of inequality is what the OWS folks have been against from the start. What we hear about on the news (and unfortunately what many are caught up on) is the media spin of jealousy and wanting something for nothing.

Jon said it so eloquently in early October:
"If the people who were supposed to fix our financial system had actually done it, the people who have no idea how to fix it wouldn't be getting fcuked for not offering their solutions. And while we fight, as always, the real victims continue to suffer."

Unfortunately, the people deciding our fate are in it for themselves, not us. It's sad that the misdirection is working and we are fighting amongst ourselves, distracted from the real core issues.

 

[3Hummers]

I drove past the OCCUPY Irvine corner yesterday. About 25 tents and awnings, a lot of signs braced up but not a person to be seen. I suppose a few could be napping in their tents but not one visible person in or around the entire encampment.
As to Congress, we should start with 20 year terms for all of them.( and no your Congressman isn't any better than mine ) They are not supposed to write laws that they themselves are not subject to but we have healthcare, prosecution, retirement, etc. It goes on and on. These guys have created an elite class that only the 535 of them and their retired brothers get to belong to. We the People and the court system have allowed this to happen, we need to un-allow it.

 

[Ron B]

These guys have created an elite class that only the 535 of them and their retired brothers get to belong to. We the People and the court system have allowed this to happen, we need to un-allow it.

things have been pretty good for a long time while we slowly crumbled then crashed. Now that the proverbial balls are being sucked it has become more obvious who has been profiting while the rest of us scramble about tightening our belts and battening down our hatches.

I visited Zuccotti Park in the financial district again before I left NY -- those guys are animals and were still holding on in the crazy weather. It was fun (and not) to read the signs. One or two out of every ten were absurd (what we see on tv and other threads) but the rest were right on and made one think about the situation. Kind of depressing really how many react to them.

 

[M22KLARS]

I'm pretty sure the majority of everyone would choose to misunderstand us if we did. They would choose to see our trucks and nothing else, and spin stories about how we are "Special interest" who just want cheap gas and to pollute the environment and run over babies with our trucks.

You left out clubbing baby seals. Please don't forget that we love to club baby seals.

 

[Ron B]

You left out clubbing baby seals. Please don't forget that we love to club baby seals.

and I will bring the hole in the ozone that usually follows me around when I drive my truck!

 

[LagunaH1]

You left out clubbing baby seals. Please don't forget that we love to club baby seals.

I actually just got back from clubbing screaming baby seals for lunch. On the way back I found a couple of babies that I ran over just because that's how I am.

 

[3Hummers]

Damn Hummer drivers. Probably all out feeding kittens to their pet alligators.

 

[LagunaH1]

My pet alligator wants lunch

 

[M22KLARS]

and I will bring the hole in the ozone that usually follows me around when I drive my truck!

I actually just got back from clubbing screaming baby seals for lunch. On the way back I found a couple of babies that I ran over just because that's how I am.

Damn Hummer drivers. Probably all out feeding kittens to their pet alligators.

My pet alligator wants lunch

Seriously :asoff:

 

[3Hummers]

Glad we can entertain you Dan. Seriously, there is no law that allows our Congressmen to trade on insider information but since they fund and oversee the SEC which prosecutes those types cases it seems the SEC has been reluctant to even look into the issue. Anyone sense a conflict of interest here? As much as I hate the whole special prosecutor think I think an independent investigation should be made. These guys should have their feet held to the fire as much as anyone. And staffers getting in on the act also, put them in the same cell block.

 

[LagunaH1]

I might be naive but I really want the "everyone is equal under the law" thing to work....

 

[Ron B]

I might be naive but I really want the "everyone is equal under the law" thing to work....

Socialist! BURN HIM!!!

How can you want equality across the board?! That is un-American!!

 

[LagunaH1]

My pet alligator will defend me.....

 

[3Hummers]

I want equality under the law but I don't believe in income re-distribution. If you earn it through your hard work and enterprise it should be yours. You should not have a legal leg up to profit but if you make it you should keep it. I don't care how much or little you earn everyone in this country should pay something for the privilege of being here. Everyone should be a stakeholder. If you aren't it is easy to say hell yea, tax that other guy or take his stuff or I don't care because it doesn't impact me. That is a significant flaw in our system. A huge percentage of people aren't stakeholders. They don't pay any income tax so many of the important decisions facing this country don't hit home with them. I understand and don't argue with a progressive system of taxation but for 45-50% of this country's population to pay zero income tax is wrong, a problem and is undermining the entire system of democracy.

 

[LagunaH1]

I should clarify that my comment about equality under the law was not in regards to taxation. I agree that if you earned it, it's yours. What I meant to say is that I *hate* the idea that politicians (congress or whatever) seems to be exempt form many of the laws they make. THAT irks me tremendously.

There are a couple of principles that I have seen used lots of times in the various companies I have worked for:

"Eat your own dog food" - meaning if we want others to like our products / services, then maybe we should use it ourselves.
"Never ask your guys to do something you wouldn't do yourself" - could be translated into something like "lead by example"

It would be really nice of our elected leaders would adhere to this type of ideas in my opinion.

 

[3Hummers]

and that is another flaw in our system, our leaders have gotten away with the do as I say not as I do method of leadership. Everyone of those SOBs should have to adhere to the letter of the law like everyone else and since they are the ones writing all these laws they should get more scrutiny than anyone.

 

[Paladine71]

I should clarify that my comment about equality under the law was not in regards to taxation. I agree that if you earned it, it's yours. What I meant to say is that I *hate* the idea that politicians (congress or whatever) seems to be exempt form many of the laws they make. THAT irks me tremendously.

There are a couple of principles that I have seen used lots of times in the various companies I have worked for:

"Eat your own dog food" - meaning if we want others to like our products / services, then maybe we should use it ourselves.
"Never ask your guys to do something you wouldn't do yourself" - could be translated into something like "lead by example"

It would be really nice of our elected leaders would adhere to this type of ideas in my opinion.

Great comment. Let's add one more to that list. Lead from the front. If they want to force healthcare, or any other socialist program, on us. They should all take it on themselves first and see how it works out for them before they push it on us.

 

[3Hummers]

Yep. They should be on the same retirement programs, have the same health care options and everything else as we do. That they don't is as much our fault as theirs. Until we demand it and hold them accountable they will continue to gild their cage with our money.

 

[Ron B]

...A huge percentage of people aren't stakeholders. They don't pay any income tax so many of the important decisions facing this country don't hit home with them. I understand and don't argue with a progressive system of taxation but for 45-50% of this country's population to pay zero income tax is wrong, a problem and is undermining the entire system of democracy.

I agree, we all need to pay our share. It is frustrating that half the country owes no income taxes (in fairness, they do still pay payroll, excise, medicare tax so they are not getting off totally free). That being said, the bottom 50% of the US accounted for 2.5% of the country's wealth in '07, which was $1.45 trillion. So even taking half of everything they have is a drop in the bucket -- me thinks what a lot of the freaking out about is raising the tax on the top 2% from 35% to 39%? Somewhere I read that the 4% increase would generate over $700 billion...which is coincidentally almost exactly half of what the bottom 50% "own".

Even more frustrating to me is when 30 of companies from the Fortune 500 owed no taxes for '08 thru '10. I know it's all loopholes and creative accounting but still smells fishy when I (and I assume everyone here) pay more taxes than General Electric (zero).

I see both sides and persuasive arguments can be made both ways. But the truth remains no matter what numbers or stats one posts...we are in deep doo-doo and all the gov can do is argue over our nation's motto and make pizza a vegetable...which brings me to another hypocrisy thread!

rb