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STOP CONGRESSIONAL INSIDER TRADING!

 

WHAT IS THIS ABOUT?

 

Several months ago, a little known fact leaked out of Washington that members of Congress as well as their staff routinely traded stocks on non-public information.   Trades were made on companies that would be affected positively or negatively by legislation pending in the House or Senate.  Representatives and Senators are often given the opportunity to participate in lucrative Initial Public Offerings that are in fact not very public at all.

 

The facts reveal that Congressmen and Senators often leave their public servant jobs significantly wealthier than when the arrived.  They seem to be more adept at picking stock winners and predicting stock losers than they are in governing the affairs of our country.

 

Several bills have been introduced to curb this activity and its no surprise that the proposals have attracted little to no support.  Recently, 60 Minutes directed a bright spotlight on this issue.  Reporter Steve Croft, Brian Baird and Peter Schweizer, a fellow at the Hoover Institute, exposed an even broader problem in a $100M cottage industry, dubbed “political intelligence” wherein former congressmen and staffers gather information in the halls of the capital and sell it to investment funds and advisors. 

 

This type of behavior could very well land the typical American taxpayer, stock trader, investor or any other citizen in jail.  It is a criminal offense.  So the question is, why is it perfectly legal for our elected officials to participate in this illicit activity?

 

I am just a guy who has decided enough is enough.  I pledge to do my part to put an immediate end to this and I am asking you to help.  I intend on gathering as many signatures as possible for this petition that I will personally deliver to Washington, DC to each and every member of the House of Representatives and Senate.

 

We will not only support the Stock Act (Stop Trading on Congressional Knowledge), but will insist it is an Act with teeth and no loopholes.   It is common sense that if a policy or law is good enough for the people it is good enough for those who are elected to serve the people.

 

Please read the letter on the following page and if you agree with me, simply sign the petition on the last page.  Equally important, please forward the invitation to everyone you have the ability to forward it to.  This is a non-partisan issue and I intend for the message to be heard on both sides of the isle.

 

Thank you for you support,

 

Randy C. Baker

www.stopinsidertrading.org