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'60 Minutes' on Congressional Insider Trading
futureofcapitalism.com

Hoover Institution fellow Peter Schweizer's new book Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us To Prison was the subject of a segment on "60 Minutes" last night. From the "60 Minutes" piece:

former House Speaker Nancy Pelosi and her husband have participated in at least eight IPOs. One of those came in 2008, from Visa, just as a troublesome piece of legislation that would have hurt credit card companies, began making its way through the House. Undisturbed by a potential conflict of interest the Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64. The credit card legislation never made it to the floor of the House....

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Ira Rosen

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