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IPFS News Link • Corruption

72 Hill staffers traded stocks in companies their bosses oversee: WSJ

• Sahil Kapur via The Raw Story
The perception among many Americans is that there's no shortage of corruption in Washington or on Wall Street, and a new report finds possibly unseemly activities between dozens of Capitol Hill staffers and the businesses their offices tasked with keeping honest.

At least seventy-two Congressional staffers traded stock shares of companies their bosses were involved with overseeing and writing laws for in 2008 and 2009, a Wall Street Journal investigation found Monday.

Although the aides in question denied that they were involved with unethical activity, their positions afford them access to information that individuals who are trading could profit from. “Even if they had done so,” the Journal notes, “it would be legal, because insider-trading laws don't apply to Congress.”

The report points to staffers from both major political parties who could be at fault, and says the activities were occurring primarily in the financial services and energy industries. It opens by highlighting the activities of Chris Miller, an energy policy aide to Senate Majority Leader Harry Reid (D-NV).