Parliament of Whores
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CONGRESS TRADES ON INSIDER INFORMATION

CONGRESS IS ABOVE THE LAW.  MEMBERS HAVE ALWAYS BEEN TRADING ON INSIDER INFORMATION—thus they have the highest long-term rate of return

From news release by Motley Fool

Motley Fool:  One of the top 10 syndicated market commentary sources

Insider Trading on Capitol Hill?
Tuesday November 16, 8:58 am ET
By Selena Maranjian

Few of us have probably ever looked forward with great anticipation to the publication of an article in a financial academic journal. But there's one appearing in the December issue of the Journal of Financial and Quantitative Analysis that may make for gripping reading. It raises a troubling question: Are there financial shenanigans going on on Capitol Hill? Specifically, are (some) senators engaging in insider trading, acting on early knowledge they may have regarding what legislation will be passed when, which companies will be awarded big contracts, and which companies' drugs will be approved?

Wall Street Journal article last month addressed the forthcoming report, saying, "A study suggests that U.S. senators possess stock-picking skills that even the most seasoned money manager would envy. During the boom years of the 1990s, senators' stock picks beat the market by 12 percentage points a year on average, according to the study. Corporate insiders, meanwhile, beat the market by about six percentage points a year, while U.S. households underperformed the market by 1.4 percentage points a year on average, according to separate studies."

It went on to note, "Looking at the timing of cumulative returns, the senators also appeared to know exactly when to buy or sell their holdings. Senators would buy stocks just before the shares suddenly would outperform the market by more than 25% [and would sell with similar prescient timing]. What explains this miraculous performance? Given that the senators are producing returns that best even such stars as Peter Lynch and [Berkshire Hathaway's (NYSE: BRK.A - News, BRK.B - News)] Warren Buffett, shouldn't they go manage mutual funds instead of running the country?"

Something sure looks fishy, doesn't it? But it appears that the Securities and Exchange Commission (SEC), which saw no reason not to go after Martha Stewart Living Omnimedia's (NYSE: MSO - News) leading lady over less than $100,000 in gains, isn't interested in what might be going on in the Senate. Hmm… could it be that the SEC, which has personnel and budgets approved by senators, doesn't want to bite the hands that feed it?

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If there lips are moving they are lying.  


The one thing you can be sure that they stand for, is to get elected.

 

If there lips are moving they are lying (said of politician)
 
 

To understand developments in our political system (both parties) one must understand the role of neoliberalism.  Any analysis which misses this connection is grossly inadequate.  (Neocons follow neoliberalism economic policies). 

 

We have an evil, evil system. Words such as imperialism, greed, corporate greed, neoliberalism, neoconservate, globalism, bought politicians, control of media are descriptive.   There are reasons why the labor movement has collapsed.  It is the politics of neoliberalism, an out growth of corporate greed.  Given how it opposes the public weal, we have devoted a section to expose just what neoliberalism is—a thing that the five corporations which own broadcasting will not do. 

 

THE BRINK OF ECONOMIC COLLAPSE

Things have gotten worse, the hole the neocons has dug is much deeper.  The economic stats are worse than bad:  the trend is toward greater disparity of wealth and on top of that the U.S. is loaded with debt and imbalance of trade.  The debt can through fiscal austerity can be paid off (as some of it was under Clinton), but the trade imbalance will only grow due to the dismantling of are industrial base and the setting up of free trade agreements such as NAFTA.   The current foreign debt is equaled to over 70% of GDP, a ratio unmatched by far among industrialized nations.  To find out what economics is called the dismal science and the role of neoliberalism.