The Mix  
comments_image Comments

Can I get a plural 'S' with that corruption scandal?

Will this one turn out to be bigger than Abramoff?
 
 
Share
 

From John Byrne at Raw Story:

After a comment by Rep. Louise Slaughter (D-NY) on Air America's Majority Report Wednesday evening, RAW STORY has learned that House Democrats are pushing the ethics committee to investigate allegations of congressional offices providing privleged information to Wall Street investors.

On Air America, Slaughter alleged that "day traders" in the offices of Senate Majority Leader Bill Frist (R-TN) and former House Majority Leader Tom DeLay (R-TX) had aided such investors. She mentioned as a specific example that individuals got advance notice that an asbestos bill was not going to emerge from the Senate.

An article that ran below the radar in November revealed the "day trading" practice, in which little-known firms use sources in Congress to glean information relevant to publicly-traded stocks. As Washington turns its eyes to fallen conservative superlobbyist Jack Abramoff, new focus has come to other allegations of congressional wrongdoing. [ Read the rest]

Pardon my French, but this story is unbefuckinglievable. Day traders sitting in the House and Senate leadership offices, working the phones to Wall Street? This is a mob!

It's called insider trading and it's not complex to explain. I can't see how they might spin this one: no Dems are involved, it isn't part of the War on Terra and it can't be dismissed as some obscure rules violation.

Ruy Teixera posted some polling data to his blog today and predicted modest gains for Dems in 06.' But polls today can't measure what November will look like if this becomes a season of indictments.

Joshua Holland is a staff writer at Alternet and a regular contributor to The Gadflyer .