Stop insider trading

Insider trading is, “The trading of a corporation’s stocks or other securities (e.g., bonds or stocks options) by individuals with potential access to nonpublic information about the company. … Members of Congress are exempt from the laws that ban insider trading.” (Wikipedia)

Really? Let me pull out my copy of “Insider Trading for Dummies” to make sense of this.

Raj Rajaratnam and Winifred Jiau sit in prison today for conspiracy and insider trading. Seems they were privy to insider, “nonpublic information” in an attempt to make millions. They got what they deserved. On the flip side, our elected “exempt” members of Congress are allowed to buy, sell and trade based on insider “nonpublic information” in an attempt to pad their own financial coffers. Their portfolios outshine the unknowing public by a substantial margin.

This blatant misuse of power has long been questioned by the likes of Democratic ex-Rep. Brian Baird. Proposed bill HR 1148 would stop trading on congressional knowledge. Co-sponsors include 25 Democrats and three Republicans.

Please ponder one thing before you vote in next November’s election: Who’s got your back?

Gary Puntney

Veradale