Monday, May 23, 2011

We're Being Played

Political Wire:

A new study of stock trading by members of the House of Representatives concludes that lawmakers earned "significant positive abnormal returns" -- approximately 55 basis points per month or 6% annually -- over standard market returns.

The results mirror a previous study that focused on trading by Senators.

Perhaps that's what Sen. Michael Bennett meant when he said, "it's all rigged."

I am Frank Chow and I approved this message


Steve said...

While I'm always happy to have my cynicism reinforced I wouldn't read much into this. I imagine if you compared those results with any wealthy well connected person you would see the same thing. I mean let's get real, if you want to be a politician you need to be wealthy in the first place. I imagine the stock performance a average in Beverly hills is higher too

Asian-American Pundit said...

My point is this is yet another reason Congress does nothing about jobs in America. They don't have a worry, they are doing quite fine. But, it does make ya wonder how many vote wondering how it'll effect their portfolios...

Also too, Beverly Hills sucks.