Well, it's a living....

Radley Balko laments, among other things, the fact that a “recent study … showed that U.S. senators beat the [stock market] market handily by 12 percentage points in their investments — outperforming “corporate insiders” by eight points from 1993 to 1998.” Another study “found that 75% of randomly selected members had ‘stock transactions that directly coincided with (their) legislative activity.’” Derived from this Jonathan Turley USA Today story, it goes to show that one does not need to be part of a corporation to profit from insider trading, just part of government. At least when government has control over so much wealth.

Posted by Matthew Hogan at December 28, 2004 6:22 PM