RSSDemand an investigation into the insider trading.
Carolyn Hileman | November 9, 2009
Demand an investigation into the insider trading.
Carolyn Hileman
According to opensecrets.org our congress and senate who fought so valiantly to keep those banks from failing held stock in them. In 2008, the same year that the federal government bailed out several U.S. banks, the second most commonly held stock among members of Congress was Bank of America, the data showed. Other popular bank stocks included Wells Fargo, Citi Group and Goldman Sachs, all of which received congressionally approved funds. Insider trading is when stock market trades are made with insider information, information such as knowing that these companies will not fail because you are in the position to stop it. Insider trading is illegal IE: Martha Stewart, the proper thing to do, the legal thing to do in this case is if you own stock in any of the companies you would recuse one self from voting, I may be mistaken but I do not believe any of the congress or senate did so.
None of the major media, even mentioned the fact that they were voting to save their own stock portfolios, which leaves to question what did they know and when? Were they by omission supporting this vote to save their own portfolios? The fact of the matter is members of both houses owned stock in the companies they voted to bail out at tax payer expense, the outlandish comments about how our economy would keel over and die if they did not vote for this bill even further eroded our economy causing even more companies to fail and tax payers to suffer the consequences. In most cases there is little we can do as simple tax payers but in this instance we can demand a full investigation from the SEC on the insider trading going on before, during and after this bill was passed.
Complaints and reports from any member of the public concerning possible violations of the federal securities laws can now be sent directly to the electronic mailbox of the Division of Enforcement. If you believe that you have been the victim of a securities-related fraud, through the Internet or otherwise, or if you believe that any person or entity may have violated or is currently violating the federal securities laws, we would like to hear from you. You can e-mail us directly at enforcement@sec.gov or you can submit the Enforcement Complaint Form located in our Enforcement Complaint Center. Our mission is to enforce the securities laws that seek to protect investors and ensure that the securities markets are fair and honest. By reporting suspected instances of fraudulent activity relating to securities, you may be able to prevent future losses to investors.
Do it for the inheritance you can no longer leave your children, do it for the college education you can no longer give your children, do it for the future retirement they stole from you. If this is allowed to go unnoticed, unanswered it will only lead to more abuses and one day we will wake up to find they have passed a law that says we cannot hold them accountable. We need every single American who has been affected by these scandalous actions to file a complaint. They can lie to some of us some of the time, but they cannot lie to us all. Demand an investigation into the insider trading.
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