<story><title>Congress: Trading stock on inside information?</title><url>http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-inside-information/</url><text></text></story><parent_chain><item><author>orijing</author><text>Another interesting point is that Congress can actually influence outcomes. For example, if you (the congressperson) have a lot of cash invested in the defense department, you&apos;d likely push for as much defense spending as possible, even if it it&apos;s against the best interests of the nation.&lt;p&gt;I think it&apos;s time to end that. Public officials should not be able to influence their financial portfolio. At the very least, every trade, investment, position by an elected official should be made public so that we are aware of what we&apos;re voting for: Not a representative of ourselves, but of industry and their pockets.</text></item></parent_chain><comment><author>andrewfelix</author><text>That is f&lt;i&gt;&lt;/i&gt;*ing remarkable. In Australia there are strict rules governing conflict of interest. If there is even a hint of someone gaining financial benefit through their position they are hounded by the press and their political opposition. Of course parliamentarians find other ways to make money such as fake tenders. But it isn&apos;t as flagrant as this.&lt;p&gt;I really feel for you guys over in the US. These are your representatives...they sound like mafioso.</text></comment>
<story><title>Congress: Trading stock on inside information?</title><url>http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-inside-information/</url><text></text></story><parent_chain><item><author>orijing</author><text>Another interesting point is that Congress can actually influence outcomes. For example, if you (the congressperson) have a lot of cash invested in the defense department, you&apos;d likely push for as much defense spending as possible, even if it it&apos;s against the best interests of the nation.&lt;p&gt;I think it&apos;s time to end that. Public officials should not be able to influence their financial portfolio. At the very least, every trade, investment, position by an elected official should be made public so that we are aware of what we&apos;re voting for: Not a representative of ourselves, but of industry and their pockets.</text></item></parent_chain><comment><author>espeed</author><text>You can make as much on a financial crisis as you can a bull market if you know in advance or can influence it -- this is a key component in the &quot;Great American Bubble Machine&quot; (&lt;a href=&quot;http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405&quot; rel=&quot;nofollow&quot;&gt;http://www.rollingstone.com/politics/news/the-great-american...&lt;/a&gt;).</text></comment>