Insider stock trading by members of Congress
"As Congress examines members' trading, an echo from a bygone era" by David S. Hilzenrath, © Washington Post, February 13, 2012. (News Article)
"A construction company working on a huge federally funded project sold stock to members of Congress at discounted prices. The company, Credit Mobilier, hoped to enrich lawmakers and protect itself from damaging legislation ... (The investigation's findings are cited extensively in an 1873 history posted online by the Central Pacific Railroad Photographic History Museum.) ... " [More]
[Courtesy Google Alerts.]
posted from CPRR Discussion Group at 4:18 AM
2 Comments:
On insider trading:
"You should want more insider trading, not less. You want to give the people most likely to have knowledge about deficiencies of the company an incentive to make the public aware of that."
—Milton Friedman, Nobel Prize winning economist
P.S. Insider trading was legal in the United States until 1968.
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