Other Views: Occupy Wall Street and Congress' insider trading
Posted: November 21, 2011 - 12:12am
“As apocalyptic acts of public protest go, yesterday’s Occupy Wall Street act-out was a bit of a piffle. There was the promise to shut down Wall Street. Didn’t happen. There was an effort to disrupt subway service. Didn’t happen. And there were to be acts of ‘massive’ civil disobedience at Foley Square and the Brooklyn Bridge. Didn’t happen, either. ... So what happened to the ‘revolution’? Well, it was wet and very chilly yesterday; bad weather always puts a damper on uninformed outrage. ... At the end, there were more vagrants, criminals and nut-jobs than protesters at Zuccotti Park. Apart from self-aggrandizing union poobahs pushing their own agendas, there has been little coherence in any of the protesters’ ‘demands’ — just resentment, envy and entitlement. ... Bottom line, though: It seems that Occupy Wall Street has passed its sell-by date — and even the Occupiers know it.”
— “Loud, but lame” — New York Post
“Want to get rich? Get elected to the U.S. Congress. Recent revelations show that a lot of members of Congress came to Washington to do good – and stayed to do well. Very well. The most celebrated case involves Rep. Nancy Pelosi, D-San Francisco, the speaker of the House of Representatives from 2007-10 and the current House Democratic leader. A segment of CBS’ ‘60 Minutes’ Sunday reported she and her husband ‘have participated in at least eight’ initial public offerings of stock, which generally provide lucrative profit opportunities. ... Profiting from insider information is illegal for Wall Street traders. Although theoretically illegal for members of Congress, currently loopholes effectively make it legal. ... But the bigger problem is the immense influence of government on every aspect of our lives. Smaller government would mean fewer temptations for lawmakers to game the system – and more prosperity and freedom for the rest of us.”
— “Capitol Hill insider trading” — The Orange County Register
http://lubbockonline.com/editorial-letters/2011-11-21/other-views-occupy-wall-street-and-congress-insider-trading#.TsswmFbIi9t
“Want to get rich? Get elected to the U.S. Congress. Recent revelations show that a lot of members of Congress came to Washington to do good – and stayed to do well. Very well. The most celebrated case involves Rep. Nancy Pelosi, D-San Francisco, the speaker of the House of Representatives from 2007-10 and the current House Democratic leader. A segment of CBS’ ‘60 Minutes’ Sunday reported she and her husband ‘have participated in at least eight’ initial public offerings of stock, which generally provide lucrative profit opportunities. ... Profiting from insider information is illegal for Wall Street traders. Although theoretically illegal for members of Congress, currently loopholes effectively make it legal. ... But the bigger problem is the immense influence of government on every aspect of our lives. Smaller government would mean fewer temptations for lawmakers to game the system – and more prosperity and freedom for the rest of us.”
— “Capitol Hill insider trading” — The Orange County Register
http://lubbockonline.com/editorial-letters/2011-11-21/other-views-occupy-wall-street-and-congress-insider-trading#.TsswmFbIi9t
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