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."
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2 comments:
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
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.
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