written by Rose Colombo, original l(c) pub. 11/16/2011
Occupy Wall Street made a statement whether people agree or not, at least they protested the long arm reaching from the White House into Wall Street and Wall Street reaching into the White House. In fact, the majority of citizens don’t believe they have the power to change the winds that have been shifting in an ugly direction as the federal government is trampling on the constitution and the “limited power” that is established by constitutional law. Americans need to unite against the double standards that have been secretly implemented by past and current congressional members who are filling their bank accounts on the taxpayer’s time and dime!
How many Americans have looked up the definition of “Insider Trading?” Are you aware that insider trading is illegal and that the Department of Justice went after “Martha” who made a pittance on her investment in comparison to former Speaker Pelosi, so how is that?
Insider Trading is: “The use of material, non-public information in trading the shares of a company by a corporate insider or other person who owes a “fiduciary duty” to the company.” How is it that the U.S. Congress no longer believes that they have a “fiduciary duty” to the American people as well as to the corporations who are seeking the approval or denial of bills before the U.S. Congress?
Furthermore, “This is the classic definition. The Supreme Court has also approved a broader definition known as the “misappropriation theory;” the deceitful acquisition and misuse of information that property belongs to persons to whom one owes a duty.”
Obviously, members of congress are provided confidential information which could enhance their financial wealth outside of their job description if they choose to abuse their power on taxpayer’s time and work on personal “insider trading” on the job. Americans don’t pay public servants to work on their personal Wall Street portfolios, but pay them to protect the public from unethical laws. Federal employees are paid by the taxpayers to review corporate laws for approval or denial and determine if it is in the best interest of the American people, not in the best interest of congress as they withhold or deny or approve corporate laws presented to them for a vote based on insider trade secrets. How is it not considered a Conflict of Interest or misappropriation as well as deceitful and unethical for congressional members to work on personal “insider trade” secrets for personal financial gain while working as federal employees working on the clock and paid with taxpayer dollars? If congressional members feel it is ethical to use confidential information seeking insider trade secrets on the job than they should clock out!
On its face, it would appear that the Judicial Ethics Committee would be reviewing the Conflict of Interest, as well as the “misappropriation theory” and “deceitful acquisition or “misuse” of information which was intended for the purposes of ensuring the people were protected from big corporations on Wall Street. So, this would explain why the American people are concerned about the U.S. Congress and Executive Office climbing in bed with Wall Street as the people line the streets protesting the double standards.
Last week, the senate voted to deny the American people the right to exercise freedom of speech on the internet by passing a bill titled “Net Neutrality.” It is my suggestion that the American people and media wake up, because “Net Neutrality” circumvents the First Amendment and could devastate careers and corporations who promote themselves on the internet. This is a very dangerous attack against Freedom of Speech by the Obama administration. Such a law could target people who protest against corruption between the White House and Wall Street.
Fortunately, CBS exposed a third big scandal related to the Obama administration and Congress. The U.S. Congress, past and current, passed laws stating that “insider trading” is illegal, but with deceit and non-disclosure, Congress created a double standard for congressional members making “insider trading” for congressional members legal. Congress has written laws that circumvent the laws established for the American people by writing self-serving laws which exempt themselves from complying with the established laws mandated for all citizens and self-protecting laws which prohibit them from being prosecuted for “insider trading.” In other words, what they implemented as “illegal” insider trading for all other citizens is “legal” for congress.
How is it legal and ethical for congressional members to re-write laws which circumvent the laws of the land, while simultaneously abusing their positions of power to write laws that allow them to violate the law with immunity, while on the job and racking up wages paid by the U.S. taxpayers? The American people were led to believe that they voted for congressional representatives who would review corporate documents and determine what is in the best interest of the American people, not in the best interest of congressional members on taxpayer’s dime!
Under which congressional authority and fiduciary duty or job description is it that allows congress to circumvent the constitution by writing self-serving laws that protect them from complying with laws and from punishment, so they can fill their bank accounts, by creating double standards which favor congress?
So, how does congress justify their “insider trading” on the job for their personal financial gain when they are paid to protect the people from criminals who are arrested for insider trading?” For example, a bank clerk wouldn’t be allowed to study the customer’s portfolios and discuss insider trade secrets on the job without being fired, yet there are congressional members using their time on the job paid by taxpayers for personal financial gain.
Which constitutional law or fiduciary job description did Rep. Pelosi apply that justifies her using confidential information which is the property of the government as personal information which in my opinion is unethical with the intent of using the “insider trading” secrets for her personal financial gain? How is it okay for any employee to use information that belongs to the government or to a corporation for personal use? In the private sector, employees would be fired.
Is it ethical for congress and the executive office to write self-serving, self-regulatory, and self-protecting laws for self-gain that provides them exemptions from compliance and exemption from punishment after mandating that all other citizens must comply with the laws which they mandate or else be punished such as “insider trading” and “Obama care?”
Which constitutional amendment or the federal job description provides congress the authority to write approve, and enforce “insider trading” as illegal for the American people, but “legal for congressional members?
Consequently, I have determined that some congressional members believe that they have the authority to abuse their positions of power, even if it involves ethics violations and conflicts of interest to provide themselves immunity when they use “insider trading” secrets for financial gain by deeming “insider trading” as “illegal” for the citizens, but “legal” for congressional members who commit the same white-collar crime without fear of being punished.
In conclusion, as long as the American people remain passive and accept that lawmakers can become law breakers by re-writing laws, manipulating the law, changing laws that are self-protecting from compliance and prosecution, the American people will be faced with double standards, unconstitutional laws, and a constitution that their leaders believe the words of Obama when he stated in 2001 and 2008 that the constitution is no more than a charter of negative laws [liberties] that is “meaningless.” **( This article may be shared, but Not Plagiarized by a Third Party)
Rose Colombo, is the producer and host of former cable TV and talk radio show, “Issues of the Day.” She’s been seen and or heard on radio and TV and red in major and local newspapers. Read Reviews and Complimentary Pages of her 2 books, Irwin Award Winner, self-help book, Fight Back Legal Abuse,” and her latest political satire depicting fictional characters with an Orwellian story paralleling today’s corrupted political agendas, “Obamacare, Dinosaurs, Red Necks and Radicals,” at www.amazon.com
Follow Rose on Twitter: Rose4Justce or visit her webiste at www.fightbacklegalabuse.com
3 thoughts on ““Insider Trading” and Double Standards! Is Wall Street in Bed with the White House? Why is it illegal for Martha, but Legal for Pelosi?”
This is a case supporting the truth of absolute power corrupts. Many Americans are just struggling to make ends meet, fight abuse and injustice, until their assets, lives, and freedoms are taken away. Dignity and value of human life is being downgraded at an alarming rate. From the White House to our court and legal systems, “power corrupts”. Justice is just ice.
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