CONGRESS INSIDER TRADING RUN AMOK: When They’re Not Trading On Private Information, They’re Selling It!

Henry Blodget

The good folks at CNN were kind enough to have me on this morning to discuss the latest Congress insider trading revelations.

To wit: In addition to trading for their own accounts with private information gleaned from their jobs, our Senators and Representatives regularly meet privately with hedge funds who then use what they learn about impending legislation to cash in.

No, no, protests Congress. There’s no scandal. It’s just business as usual.

And of course that’s the point.

If this were happening in the private sector, Congress would be screaming bloody murder about corruption and greed.

Because its Washington, however, it’s just the way things are done.

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