pandy
11-19-2011, 10:34 AM
I just found out about a 60 minutes report that will run on this Sunday’s show which blew my mind. It shows how members of Congress are exempt from laws regarding insider trading and how they trade stocks in companies that they have helped get grants and gov’t loans. There’s a book called Throw Them All Out that covers this.
Nancy Pelosi has made millions doing this and she is drilled at a press conference by 60 minutes reporter Steve Kroft.
Pandy
http://www.cbsnews.com/8301-504803_162-57323518-10391709/questioning-pelosi-steve-kroft-heads-to-d.c/?tag=cbsnewsMainColumnArea.3
Questioning Pelosi: Steve Kroft heads to D.C.
"Nobody would talk to us." That's what 60 Minutes correspondent Steve Kroft says happened when he tried to get members of Congress to talk about "insider trading" on Capitol Hill.
It turns out that it is not illegal for member of Congress to make stock trades using inside information they learn while working on legislation, and Steve had some questions about some specific stock trades.
Since nobody involved would give him an interview, Steve had to find other ways to get some answers. As you'll see on Overtime this week, Steve looked for some lawmakers at their homes, attempted to track others down in their offices, and finally ended up asking questions at press conferences held by Nancy Pelosi and John Boehner.
"You don't like to do that stuff," Kroft tells Overtime producer David Rubin. "But on the other hand, if they don't want to talk to you and they don't want to give you an interview, and they are in powerful positions and play a prominent role in the story that you're doing, then you feel like sometimes you've got to do it."
Nancy Pelosi has made millions doing this and she is drilled at a press conference by 60 minutes reporter Steve Kroft.
Pandy
http://www.cbsnews.com/8301-504803_162-57323518-10391709/questioning-pelosi-steve-kroft-heads-to-d.c/?tag=cbsnewsMainColumnArea.3
Questioning Pelosi: Steve Kroft heads to D.C.
"Nobody would talk to us." That's what 60 Minutes correspondent Steve Kroft says happened when he tried to get members of Congress to talk about "insider trading" on Capitol Hill.
It turns out that it is not illegal for member of Congress to make stock trades using inside information they learn while working on legislation, and Steve had some questions about some specific stock trades.
Since nobody involved would give him an interview, Steve had to find other ways to get some answers. As you'll see on Overtime this week, Steve looked for some lawmakers at their homes, attempted to track others down in their offices, and finally ended up asking questions at press conferences held by Nancy Pelosi and John Boehner.
"You don't like to do that stuff," Kroft tells Overtime producer David Rubin. "But on the other hand, if they don't want to talk to you and they don't want to give you an interview, and they are in powerful positions and play a prominent role in the story that you're doing, then you feel like sometimes you've got to do it."