Congressional Hypocrites Were Betting Against Stocks As Country Collapsed

Congressional Hypocrites Were Betting Against Stocks As Country Collapsed

[url=http://finance.yahoo.com/tech-ticker/congressional-hypocrites-were-betting-against-stocks-as-country-collapsed-477789.html[/url]

Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional disclosures shows.
...
According to The Journal's analysis of congressional disclosures, investment accounts of 13 members of Congress or their spouses show bearish bets made in 2008 via exchange-traded funds...These funds were leveraged; they used derivatives and other techniques to magnify the daily moves of the index they track.

(visit the link for the full news article)



[edit on 4-5-2010 by grimreaper797]

I want to know names specific so we can make an example out of them. Vote them out and maybe bring them up on charges if possible. If there isn't a law against this they need to make one.

How can we expect congress to do what is right for the people if they profit from doing what is wrong for the people?

[url=http://finance.yahoo.com/tech-ticker/congressional-hypocrites-were-betting-against-stocks-as-country-collapsed-477789.html]finance.yahoo.com[/url ]
(visit the link for the full news article)

I am going to apologize in advance if the link does not work. I am at work and had to hand write the URL out to post this. So if it does not work, hopefully a mod can hop on yahoo finance or wall street journal and bring up the article (since the article and the title are the same and all.)

Here ya go.

Yahoo Finance

Anyway to further add my own opinion on this piece I'd like to say I'm not really surprised. Slightly surprised how our own species is capable of wanting ill to happen to our own, though not surprised in the least bit that it deals with some head honchos.

it doesn't surprise me at all.


Just a few honest people in congress, the rest are corrupted by Goldman Sachs, AIPAC and other lobbies.

This is something I feel should get attention. The people we elected to stop such collapses, the very people designated to help avoid disaster, are profiting from it.

This is simply unacceptable. Such practices must be made illegal.

Sad, to know that our own government is as corrupted as the fat rats in Wall street, the worst of all is that many Americans doesn't get it, our politicians has been bought and sold over and over again by all this wall street big firms.

From the president seat to congress seats is all about money.

Many of them profited with the mortgage crash while Americans hard working lost their dreams.

Wake up people this is the realities of our politics today, both elite parties are in it.

Then when money is lost they use us to pay for their mistakes.

Originally posted by marg6043
Sad, to know that our own government is as corrupted as the fat rats in Wall street, the worst of all is that many Americans doesn't get it, our politicians has been bought and sold over and over again by all this wall street big firms.

From the president seat to congress seats is all about money.

Many of them profited with the mortgage crash while Americans hard working lost their dreams.

Wake up people this is the realities of our politics today, both elite parties are in it.

Then when money is lost they use us to pay for their mistakes.

I really don`t know how these two groups of people can even walk without tripping over each other. I mean, think about it, when they have their hands in each others pockets, they would stumble over each other trying to go from one place to another. What a picture that would make.

Before you kill these guys you need to figure out what percentage of their portfolio's accounted for the inverse ETF's.

If they are just a percentage for protection, then so what?

Also, only 13? Only 13 members of congress had any inverse ETF's? Am I the only one surprised by this?

Originally posted by grimreaper797
This is something I feel should get attention. The people we elected to stop such collapses, the very people designated to help avoid disaster, are profiting from it.

This is simply unacceptable. Such practices must be made illegal.

S&F

Makes you sick to think of it! This comes as no surprise to me

and I agree with you....off with their heads!

Can you imagine all the insider trading that was going on and then they get the bailout?