Industry groups studying Congressional insider trading issue

Your corrupt congress at work…

Industry groups are looking at getting behind proposals that would prohibit members of Congress and others involved in the legislative process from trading stocks or commodities based on nonpublic information related to their work in government.

The issue, which has come up in previous years but never gathered much support, is gaining traction since a “60 Minutes” segment Nov. 13 pointed out that Congress seems to be allowing its members to subvert insider trading rules.“I am appalled that our own politicians can place stock trades and inform hedge fund managers on nonpublic information, while I cannot,” said Chad Karl, a financial adviser and a principal of an eponymous firm who reached out to advisory groups the day after the segment was broadcast, asking them to support legislation to stop such trading.

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