Monday, November 14, 2011

Dated opera

60 Minutes presented an interesting expose of insider trading by members of Congress.  The implicated (of both parties) did their usual dance.  I thought that Pelosi's answers were amazingly disingenuous -- even for her.  But here she is sticking to her story.  No problem making money on an IPO fed to her and others in powerful positions -- because she has been relentless in her pursuit of "credit card reform." !!!

And there you have it. She profits financially as an insider while she profits politically by posing as a "reformer."  And getting away with it. 

This is what I do not get about the OWS people and their friends.  Private sector people accused of insider trading are proscecuted (there is often a perp walk for TV) and many do serious penitentiary time.  But the OWS people seemingly live in a 19th century opera, the one populated by fat robber barons wearing top hats, riding in limos that splash water on the socialist news boy as they speed by.  There are no Pelosis in that cartoon.


I found this at Carpe Diem.


Richard Green points to a source which says that elected officials are not immune to insider trading prosecution.  One awaits action from the Department of Justice.