Congress is using their own set of rules which are designed to fortify their personal wealth, while pandering to the very lobbyists that are working against doing what’s best for the nation. The conflict of interest is yet another part of what’s wrong with America’s political system.
On Sunday, former Congressman Brian Baird told CBS News’ 60 Minutes that lawmakers are using non-public information to increase their personal wealth.
“Maybe it's over drinks or maybe somebody picks up a phone and says, you know, just to let you know, it's in the bill. Trades happen, can't trace 'em. If you can trace 'em, it's not illegal. It's a pretty great system,” Baird said.
With the Occupy Wall Street movement gaining steam nationwide, insider trading by members of congress seems to be the tip of the iceberg with regard to the widening gap between the privileged and working classes in America.
Millionaires, Max Bachus (R- AL) Financial Services Committee Chairman, House Speaker John Boehner (R- OH), and House leader Eric Cantor (R-VA), were all cited in the 60 minutes report as individuals who obtained personal financial gain through trading stocks with non-public information.
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