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should U.S. lawmakers be prosecuted for insider trading?
NO. It is not illegal, even if it is unethical. and that is all that counts in the end.
0%
 0%  [ 0 ]
YES. The only reason it's not illegal is because fellow lawmakers like themselves set up the rules that way. This is a clear conflict of interest and they should be prosecuted the same as a nonmember of congress.
0%
 0%  [ 0 ]
ANGRY YES. Lawmakers should be held to a higher standard. Not only should they be prosecuted, but if found guilty, serve MANDITORY jail time, and be forced to return twice what they profited, even if it means tapping their future earnings/pension etc.
100%
 100%  [ 1 ]
WHAT? I just want to get drunk and watch dancing with the stars.
0%
 0%  [ 0 ]
Total Votes : 1

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slothrop



Joined: 03 Feb 2003

PostPosted: Thu Apr 26, 2012 8:57 am    Post subject: edit Reply with quote

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Last edited by slothrop on Sun Apr 29, 2012 11:42 pm; edited 1 time in total
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actionjackson



Joined: 30 Dec 2007
Location: Any place I'm at

PostPosted: Thu Apr 26, 2012 10:33 am    Post subject: Reply with quote

Of course, seeing how its illegal now.

http://www.reuters.com/article/2012/04/04/us-usa-obama-congress-idUSBRE83310N20120404
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slothrop



Joined: 03 Feb 2003

PostPosted: Thu Apr 26, 2012 11:13 am    Post subject: Reply with quote

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Last edited by slothrop on Sun Apr 29, 2012 11:41 pm; edited 1 time in total
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ontheway



Joined: 24 Aug 2005
Location: Somewhere under the rainbow...

PostPosted: Thu Apr 26, 2012 11:27 am    Post subject: Reply with quote

It is generally held by the courts that you cannot prosecute someone for an act that wasn't illegal at the time the act was committed.

This is as it should be.

Even when there are people who deserve to be prosecuted, the principle of not charging people for crimes that don't exist must be upheld.

Unfortunate consequences:

IIRC: There was a case some decades ago where some State legislature revised its Penal Code and in doing so inadvertently left a 24 hour window where some laws were repealed before the replacement law took effect. The result was that a sharp lawyer was able to get a rape case thrown out because the rape occurred during the 24 hour lapse in the law.
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slothrop



Joined: 03 Feb 2003

PostPosted: Thu Apr 26, 2012 12:03 pm    Post subject: Reply with quote

edit

Last edited by slothrop on Sun Apr 29, 2012 11:41 pm; edited 1 time in total
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actionjackson



Joined: 30 Dec 2007
Location: Any place I'm at

PostPosted: Thu Apr 26, 2012 12:54 pm    Post subject: Reply with quote

slothrop wrote:
please reinterpret poll question as...

should U.S. lawmakers be prosecuted for insider trading done BEFORE july, 2012? Rolling Eyes

Since this was all fairly new, wasn't sure if you were aware, that's all.

But now having reinterpreted, of course they should. I don't think the rule makers should be exempt from the rules. Heck, if Martha Stewart can get sent to jail for insider trading, so should everyone else.
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