Congress Makes Millions With Insider Trading (Video)

In 2008, for example, Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke held a closed-door meeting warning politicians that a global financial meltdown could occur within a few days, giving them enough time to get their money out of the market ahead of the general public. Congressman Spencer Bachus (R-Alabama), for one, shorted General Electric four times in early September 2008. Between July 2008 and November 2008, he made 40 options trades on GE, in one case nearly doubling his money in two days.  Nancy Pelosi and husband get into Visa IPO at $44.00 and then the credit card bill fails in Congress as Visa goes to $80.  The specific allegations have been rejected completely by Pelosi, Boehner and other members who were cited in the reports.  See their responses on the 60 Minutes Video below.

And, this activity is LEGAL for Congress!  See the 60 Minutes video with details of other LEGAL Congressional profiteering.