soupsoup:

Members of Congress can legally trade stock based on non-public information from Capitol Hill.

As Lizzie O’Leary points out, much of this report owes its information from the work done by Brody Mullins at the Wall Street Journal:

• Hedge Funds Pay Top Dollar for Washington Intelligence
• Congressional Staffers Gain From Trading in Stocks
• Congress Members Bet on Fall in Stocks

Friends, read up on this story this morning. This is important. This is a major loophole in the law that proves most of the arguments we might have about the financial system. And thanks to “60 Minutes” doing such a thorough report on it, it’s now something that the public will now be able to act upon. Many people are named in the report, including John Boehner and Spencer Bachus.