Rep. Bachus faces insider-trading investigation

[DainBramaged]

Source: Huffington Poo

The Office of Congressional Ethics is investigating the chairman of the House Financial Services Committee over possible violations of insider-trading laws, according to individuals familiar with the case.

Rep. Spencer Bachus (R-Ala.), who holds one of the most influential positions in the House, has been a frequent trader on Capitol Hill, buying stock options while overseeing the nation’s banking and financial services industries.

The Office of Congressional Ethics, an independent investigative agency, opened its probe late last year after focusing on numerous suspicious trades on Bachus’s annual financial disclosure forms, the individuals said. OCE investigators have notified Bachus that he is under investigation and that they have found probable cause to believe insider-trading violations have occurred.

The case is the first of its kind involving a member of Congress. It comes at a time of intense public scrutiny of congressional ethics, with the House passing legislation Thursday to tighten rules against insider trading by lawmakers. The impetus for the legislation, a version of which passed in the Senate a week earlier, came from a “60 Minutes” report and a book mentioning Bachus’s trades, “Throw Them All Out,” by Peter Schweizer.



Read more: http://www.washingtonpost.com/politics/rep-bachus-faces-insider-trading-investigation/2012/02/09/gIQA21Ui2Q_story.html

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Crooked piece of shit.

[classysassy]

1. Ethics and Republicans

just don't mix.

[No Elephants]

2. “Throw Them All Out,” by Peter Schweizer. Sounds good to me!

However, I would make an exception for my Rep, who voted against the Iraq War Resolution AND the Patriot Act. He voted against re-authorizing the Patriot Act, too, one of 62 Democratic Reps to do so (of 211 total reps).

And he still lives in a two family home in a modest town, renting out one floor. (Although, while he has been living there, gentrification has begun, but he bought his home well before that.)

Michael Capuano. Gotta love him.

But, I digress.

A Congressional Ethics investigation begun because of a book and 60 Minutes. How cool is that? Maybe there is hope for journalism after all.

[wordpix]

3. lots of records of his trading at key time periods but

he didn't do anything wrong. :sarcasm:

Yeah, right. Hooray to the media on this one :applause:

[rpannier]

4. Bachus is garbage

He can go and let Schweitzer run