Efforts to understand, improve, or do less harm to the world around me.


Monday, November 14, 2011

Congress and Insider Trading

A look at how the rule makers don't let the rules apply to them and make a pretty hefty profit from it.  Among the other problems mentioned by the article, I can see a few more issues why this is scary.
  • Careers in public service shouldn't come with a free pass to easy money, as you're more likely to get people serving themselves.
  • Members of congress are already paid by taxpayers and paid well.
  • Regulators who make money from changes in the law are more likely to change the law even when it doesn't need it, making this a huge conflict of interest and potentially damaging.
  • Good regulation that doesn't interfere with business, but prevents environmental and economic disasters is the best ideal of government.  Issues like this make that goal even harder to achieve.

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