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Congressional Insider Trading Scam – our Rule of Law doesn’t apply to the 1% who run the Government and the Country

Alexander P Morris — Wed, 16 Nov 2011 00:15:19 +0000

CBS News’ Steve Kroft reports that members of Congress can legally trade stock based on non-public information from Capitol Hill. We’ve already discussed this type of corruption in the past, and it’s great to see the issue receive so much more widespread publicity… You also see by Nancy Pelosi’s attitude how a two-tiered “Rule of Law” is practically considered a “congressional entitlement” at this point. Hint to OccupyWallStreet protesters, HERE IS YOUR REAL ONE PERCENT!!! (actually, more like the truly thieving and conniving .1% who want you to grant them even more money and power)

(CBS) “The buying and selling of stock by corporate insiders who have access to non-public information that could affect the stock price can be a criminal offense, just ask hedge fund manager Raj Rajaratnam who recently got 11 years in prison for doing it. But, congressional lawmakers have no corporate responsibilities and have long been considered exempt from insider trading laws, even though they have daily access to non-public information and plenty of opportunities to trade on it.”

“So in 2004, Baird and Congresswoman Louise Slaughter introduced the STOCK Act which would make it illegal for members of Congress to trade stocks on non-public information and require them to report their stock trades every 90 days instead of once a year. .. Kroft: How far did you get with this? Baird: We didn’t get anywhere. Just flat died. Went nowhere. Kroft: How many cosponsors did you get? Baird: I think we got six. Kroft: Six doesn’t sound like a very big amount. Baird: It’s not, Steve. You– you could have– ‘National Cherry Pie Week’ and get 100 cosponsors. When Baird finally managed to get a congressional hearing on the STOCK Act, almost no one showed up. It’s reintroduced every session, but is buried so deep in the Capitol we had trouble finding congressmen who had even heard of it.”

“And former House Speaker Nancy Pelosi and her husband have participated in at least eight IPOs. One of those came in 2008, from Visa, just as a troublesome piece of legislation that would have hurt credit card companies, began making its way through the House. Undisturbed by a potential conflict of interest the Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64. The credit card legislation never made it to the floor of the House.”

“In the past few years a whole new totally unregulated, $100 million dollar industry has grown up in Washington called political intelligence. It employs former congressmen and former staffers to scour the halls of the Capitol gathering valuable non-public information then selling it to hedge funds and traders on Wall Street who can trade on it.”

Only Goldman Sachs can get away with Illegal Insider Trading

Alexander P Morris — Thu, 20 Aug 2009 22:33:04 +0000

It’s kind of ironic how Martha Stewart became the poster child for cracking down on insider trading activity, even though it was never even proven or substantiated. For those of you that remember the movie Airplane with Leslie Nielsen, it reminds me of the scene where the police officers detain the little old lady while allowing a dozen terrorists to walk right through the security gate armed with bazookas. Now with Goldman Sachs, we’re faced with likely the greatest inside information and market manipulation scheme of all time — way larger than the usual trading on inside information that seems to go on every day in the markets. And once again, I doubt a single one of the people responsible will end up in jail over it (let alone receive anything much more than a slap on the wrist, if that). More likely, it’ll be brushed under the rug with the rest of the manure and never heard of again. But should we really expect anything different from our government, which at this point exists as little more than a taxpayer-subsidized wholly-owned subsidiary of Goldman Sachs?! Shhhh, thou shalt not use the lordGoldman’s name in vain!

It was also quite telling that Goldman was able to have the FBI detain their programmer Sergey Aleynikov within a day’s notice on charges that the theft of their code was an issue of national security as it could enable others to manipulate the markets. Of course, I’m sure that’s not what Goldman would be using it for (uh huh)… But I suppose that the Plunge Protection Team a.k.a. Goldman Sachs does require “special access” to the markets to do its job and assure it stays in the black (and then sooooome).

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Profiting when Insiders Trade at Extremes in Stock Prices – Part 2

Alexander P Morris — Tue, 29 May 2007 22:00:00 +0000

Traders seeking an edge are always keeping an eye out for interesting insider trading activity in a particular stock. Taking this a step further, there are certain characteristics that can be identified to really “kick” things up a notch. In this second episode, we’ll be discussing a few more setups to watch out for, as well provide a few more examples. Stocks mentioned: NASD:TRGL, NYSE:LUK

Profiting when Insiders Trade at Extremes in Stock Prices – Part 1

Alexander P Morris — Mon, 28 May 2007 22:00:00 +0000

Traders seeking an edge are always keeping an eye out for interesting insider trading activity in a particular stock. Taking this a step further, there are certain characteristics that can be identified to really “kick” things up a notch. In the following two episodes, I am going to discuss some of those catalysts, along with a few examples. Stocks mentioned: NYSE:LLL, NASD:SONE

How to Win the Million Dollar Challenge :: Trading with the Stars

Alexander P Morris — Mon, 16 Apr 2007 22:00:00 +0000

Welcome back to another Celebrity Filled Hotroastin’ mo Money episode of “Trading with the Stars”! Some of you may recall a few weeks back when Vienna Marriott gave us a few of her picks for CNBC’s “Million Dollar Challenge”. However, we had no idea how well they would actually perform. Today she shares with us some of her secrets, introduces us to Alexander’s new ebook, “How to Win the Million Dollar Challenge”, and shares with us a few new interesting stock picks to check out! Stock mentions: NASD:CHAP, NASD:NBIX, NASD:SBGI, NYSE:CHD, NASD:ONXX