Did you know that Congressmen and Senators can make a profit on the stock market while in office? Not only that, but they also get insider information and initial stock option IPOs resulting in a large windfall of income while in public service. Something about this doesn’t seem right at all. This is only considered legal because Senators and Congressmen created the law to exclude themselves, and that also excludes family members of those in political power, staff and aides who also benefit from insider trading. Those in Washington D.C. need to remain true to their calling of serving others and not focused on making a profit. We need to hold them accountable to the American people because the job they hold is for the common good and not for personal gain.
60 Minutes recently highlighted the abomination in which Congressmen and Senators are able to create laws which apply to all Americans and then not be held responsible to follow them; particularly pertaining to the rule of insider trading. It was amazing to see how many when they were quoted said they had a financial advisor take care of their investments, so there was no way for any corruption. However, their financial records told a story all their own.
A problem arises when the checks and balances of a system no longer apply to those who oversee others. The privileges and knowledge that Senators and Congressmen get behind closed doors is something that is extremely unfair when used for personal gain. The men and women of the government need to remember why they are in office: for the American people. Their job is not one of self-service but instead meant to be one of public-service to us, the people.
I think the problem needs to be fixed by putting the Congressman’s and Senator’s stocks in a blind trust while in office and up to a year after.
