Did you know it’s legal for your Congressman to trade on insider information? I discussed this briefly last year (read the paper on Congressman and their unusual stock returns here) and tonight, 60 Minutes covered insider trading in Congress. Not only is our Congress filled with people who don’t even come close to understanding the modern monetary system or how it should be managed, but they’re able to benefit from their insider information by directly trading against you! This would be a criminal racket anywhere else in the country, but for some reason we allow this to go on in the halls of Congress. The worst part is they won’t even consider a bill requiring greater disclosure. Just one more reason to clean house in 2012….
You can see the full 60 Minutes segment here:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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