« Increase in CO2 emissions means world on the brink, say warmists | A Quick Look at Media Reaction to 'Deconstructing Obama' »
May 30, 2011
Call your congressman, not your stock broker, for hot tips
What's illegal for you and me is legal for them. Valerie Richardson in the Washington Times:
It's no secret that members of Congress qualify as political insiders, but a new report strongly suggests that they also may be insiders when it comes to trading stocks.An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representativesoutperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios."We find strong evidence that members of the House have some type of non-public information which they use for personal gain," according to four academics who authored the study, "Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives."
At Instapundit:
THOSE REVELATIONS ABOUT CONGRESSIONAL INSIDER TRADING lead Jeff Carter to observe: "I now understand why campaigns have become so expensive. The net present value of beating the market by 6% annually, along with the net present value of a guaranteed government pension, cushy health benefits, and the opportunity to leverage your elected position into a lucrative full time lobbying job after 'serving' your country makes the spending seem minimal." Even better, the campaign cash comes out of other people's pockets. Win-win!
FOLLOW US ON
Recent Articles
- Bureaucratic Displacement in College Institutions
- For Ordinary People, Trump Is The Man Who Will Save The West
- Starmer Wants Trump’s Free Trade Deal—But Free Speech Comes First
- Here is the One Thing Trump Needs to Do That Changes EVERYTHING: Prove the 2020 Election was Stolen
- President Trump Fights Back
- Weaponizing Immigration: Lawfare by Class Action Threatens Our Republic
- Jesus and Academia
- Katy Perry, Astronautesse and Unifying Force
- Small Business and Cybersecurity
- No One Is Above the Law—Including Letitia James
Blog Posts
- Please don’t lower the rim!
- Is there a moral imperative in trade?
- Kilmar Angel, you're no angel to me
- Hamas can no longer afford to pay for its pot-bellied terrorists -report
- Kilmar Abrego Garcia: The Soros connection
- In maniacally woke Britain, the Supreme Court recognizes biological sex
- A deplorable explains the animosity for Trump as he cleans up Biden’s messes
- Karmelo Anthony is OJ Simpson all over again
- We should beware of terrorists in suits and ties
- Karmelo Anthony’s family starts selling merch, and his fixer pushes ‘celebrity’ status with a bizarre social media video
- Harvard tells Trump to give it money or it’ll shoot the monkey
- Democrats infatuated with criminals and gang members — American citizens? Not so much
- Media scream: ‘Trump is coming for your coffee!’
- Exactly how hard do we want our legislatures to work?
- Rubio brings free speech back to foreign (and domestic) policy