Posts Tagged ‘ Bachus ’

U.S. Congress and insider trading

December 8, 2011
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Apparently there is a loophole in U.S. legislation that excludes Congress members from laws against insider-trading. According to an article published by the Business Insider many Congress members are guilty of abusing this loophole, including John Kerry, Dick Durbin, Jim Moran, and especially Spencer Bachus. Some quotes: According to a new book called Throw Them All Out by Peter Schweizer, as relayed by Dave Weigel at Slate, Rep. Bachus made more than 40 trades in his personal account in the summer and fall of 2008, in the early months of the financial crisis. The fact that Bachus personally traded on private…

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