#StopCISPA Contact your Senators: https://act.demandprogress.org/sign/cispa_passes/ #CISPA
(Also, Happy Caturday <3)
A loophole makes it legal for members of Congress to get rich using nonpublic information to make lucrative stock trades, but a new bill wants to change that.
“It should be illegal for them to trade off of this kind of information,” Alan Ziobrowski, an associate professor of business at Georgia State University, told The Daily. “There’s no reason that Congress should be able to do what corporate executives can’t.”
Ziobrowski has analyzed tens of thousands of stock transactions made by lawmakers. Using data from the 1990s, he found that senators beat the market by 12 percent with their investments. More recent data show members of the House exceeding the market by 6 percent.
“The people who make consistently high returns in the market tend to be the ones who know something the rest of us don’t,” Ziobrowski said.