They Don’t Need No Stinking Law

I have told the world what I think of our worthless politicians……most are do-nothing turds…..or cowards in political clothing……..or felons…….Awhile back there was an investigation into the Congress and their staffs might be diddling in insider trading…….and now they have made sure that they can continue to commit felonies without having to pay the price……

The U.S. House Ways and Means Committee is refusing to cooperate with an insider trading investigation, saying its employees are “absolutely immune” from having to comply with subpoenas from the Securities and Exchange Commission (SEC).

U.S. District Court Judge Paul Gardephe ordered the committee last week to explain why it hadn’t responded to the SEC’s year-long request for documents, phone records and the testimony of staff director Brian Sutter, as part of a probe into whether he or other House members leaked private information about health care policy to insurance companies.

The SEC began its investigation after a series of red flags in April 2013, a year after Congress adopted the STOCK Act. According to the filings, Sutter spoke with a lobbyist for law firm Greenberg Traurig just minutes before the lobbyist emailed a brokerage firm with information from “very credible sources” about a change in Medicare policy. The firm then sent out an alert about the upcoming change to clients, including large insurance companies like Humana, and share prices of several immediately jumped.

At the time, Sutter told federal investigators that he did not recall speaking with the lobbyist, but a few days later, a House lawyer said that “time for reflection” may have helped stir Sutter’s memory.

But the committee has since refused to answer the SEC’s requests for information. The closest it has come is asking the commission for a “substantial narrowing” of its demands and a “firm commitment that the Committee’s making available to [the] agency of certain documents would end the Committee’s and Mr. Sutter’s involvement in this matter.”

If the investigation goes to court, it will be the first securities violation case since Congress adopted the STOCK Act.

My guess is that the Congress will slither out from under this in some way…..we know it is more important to keep the “scandals” than obeying the law…..

Sad part is this is nothing new…..we have been electing crooks since this whole experiment began…….we NEVER learn!

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