Discussion for article #224855
Cockroaches hate the light.
12 Likes
âYouâd be surprised at how often the administration, when theyâre doing stuff, they give us a heads up. Itâs often not more than a half an hour, but in a situation like this, clearly it can come back to bite.â
Wait, I thought the White House never shared anything with Congress due to their ongoing effort to cover up that whole Benghazi mess. You know, the most important event of the 21st century.
13 Likes
The corruption is so blatant they donât even realize they are doing it.
11 Likes
Itâs Obamaâs fault. How dare he give Congress a headâs up so that this poor innocent staffer can warn someone so that hedge fundâs can profit?
Because when you learn something, and have 30 minutes to act on it, the first thing you do is call a lobbyist.
Edited for errors on my partâŚ
9 Likes
Simple solution - keep your mouths shut. Keep work separate from rest of your life. Think before speaking.
5 Likes
So Congressional aides have been meeting with private industry lobbyists and disclosing sensitive information all this time?
I could cry salty tears.
Where have I been all these years?
Little wow, tell me now:
6 Likes
I suspect insider trading by members of Congress and their staff is commonplace. No wonder, Chucky Grassley and his fellow insider traders are spooked at having to take personal responsibility for criminal activities.
7 Likes
K Street lives off of these tid bits of information to manipulate the markets and influencing legislation. Somehow discussing your work with proven industrial spies is a bit different than with your spouse or coworkers.
2 Likes
No kidding. Look, this is really not that difficult - if Sutter didnât use the info to profit himself, heâs not guilty of insider trading, his pals are. And if he did, he deserves to be prosecuted. Either way, there seems to be a good likelihood that someone did so, and who else is going to investigate if not the executive branch? Thatâs their reason for existence, for crying out loud.
5 Likes
âI think there are a lot of congressional staffers who speak on a daily basis with their friends and colleagues off the Hill, without thinking for a second about what that might do to the stock market.â
~snip~
âNone was willing to talk on the record because of the subjectâs sensitive nature. The aides included those from both the House and Senate. Some of them worked for committees. Others for congressional offices.â
Smart enough to not talk on the record?
But so blindly ignorant-- they canât restrain themself until after the financial aspect of an event passes to share with-- âfriends in the private sectorâ?
Does Congress hire their aides and staffers from Booz-Allen?
jw1
4 Likes
So did TPM forget to link itâs own article explaining why the staffer is being subpoenaed?
2 Likes
And the thing is, according to one aide whoâs following the case, some Hill staffers are routinely informed about policy announcements in advance. And they talk frequently with people in the private sector.
And those people then sell that political intelligence to investors.
3 Likes
Need I say it again?
IOKIYAR
3 Likes
IOKIYAC - Itâs OK if you are a CongresscritterâŚ
1 Like
Theyâre scared on the Hill because this is all part and parcel of what goes on in DC â a hive of scum and villainy if there ever was one.
3 Likes
âuse the info to profit himselfâ What about providing the information to people who would benefit, with the ultimate payoff being a well-paid job in the future?
Iâm also intrigued about the âseparation of powersâ argument. You mean the House gets to call every janitor who ever worked at the IRS, but Justice and SEC canât subpoena a staffer who may have engaged in a conspiracy to profit from insider trading? Really? Congresspeople and their staffers are indicted from time to time, by prosecutors working out of the Executive Branch. Is this the Imperial Legislature at work?
5 Likes
Reminds me of the Hunter S. Thompson quote:
It is normally perceived as some kind of cruel and shallow money trench through the heart of the journalism industry, a long plastic hallway where thieves and pimps run free and good men die like dogs, for no good reason.
1 Like
âThe bottom line is if you share information that ends up moving the market, regardless of your intent or who you shared it with, my understanding is that youâre potentially in violation of the law,â a congressional aide who has been monitoring the situation closely told TPM. âI think there are a lot of congressional staffers who speak on a daily basis with their friends and colleagues off the Hill, without thinking for a second about what that might do to the stock market.â
Huh, I guess then yâall should start giving it a thought.
Seriously this is B.S. Iâve worked in hi-tech and finance and every company has a non-disclosure. The finance companies in particular do not want you talking to anybody outside the office about your job since it can literally negatively impact their bottom line.
Understanding you have access to confidential information in your job and not blabbing it to your friends is run of the mill for many, many people. Congressional staffers need to step up their game or look for another line of work which isnât so demanding of discretion if this is a problem for them.
6 Likes
Amen to that.
As a designer in corporate positions-- Iâve found myself creating and producing documents and presentations which were at the heart of the secrecy during quiet periods prior to a company going public.
Never had to be warned.
I knew my future employment relied on my not âspeaking to friends in the private sectorâ.
I have to assume that corruption has overgrown the institution-- if the underlings find it surprising to be subpoenaed-- for what is criminal for the rest of us to engage in.
jw1
2 Likes