Oldspeak: ‘This is what Oligarchy looks like. Elected officials, working with and paid campaign contributions by highly paid lobbyists to write laws that benefit themselves and profiting from inside information that if used by anyone one else anywhere else would be illegal and grounds for imprisonment. ‘In the past few years, a whole new totally unregulated 100 million dollar industry has grown up in Washington. It is called “Political intelligence”. It employs former congress members and former staffers who scour the halls of the capital gathering non-public information, then selling it to hedge funds and traders on Wall Street who can trade on it… It’s taken what would be considered a criminal enterprise anywhere else in the country, and turned it into a profitable business model‘ So basically it’s Las Vegas, but on a global industrial scale. Millionaires and Billionaires, placing bets on our industries and businesses and usually profiting handsomely because they know something no one else does. With this knowledge can we reasonably expect there to be any real transparency in government? Any substantive and equalizing change to our financial and economic systems? When the political class is making bets against the people’s interests, with money that we pay them AND the money they’re paid by the people they make the laws for, and enriching themselves many time more than when they 1st walked into congress. When they’re writing laws thinking about how they will impact their portfolios and net worth and not based on what’s best for their constituents the american people? Any wonder why Wall Street mega banks were bailed out for crashing the global economy, but billions were left to deal with the carnage unassisted on their own? Your tax dollars at work. While corporate media works you in to a frenzy about Jerry Sandusky, invites you to marvel at the lunacy of Herman Cain and Rick Perry, and consider potential supreme court decisions about health care that could influence 2012 elections, your wealth, the wealth of your country, the wealth of your world is being taken from you via supercomputer. And nary a shot was fired. ‘Ignorance is Strength’ ‘Profit is Paramount’
By CBS News:
Congress: Trading stock on inside information?