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    Breitbart: House Financial Services chairman must resign over alleged insider trading

    There is no law against members of Congress making personal investments with inside information gleaned from their powerful positions, but conservative publisher Andrew Breitbart says Alabama Rep. Spencer Bachus, the Republican chairman of House Financial Services, should to step down from his seat after it was revealed that he made money betting against the market before the financial meltdown in 2008.

    There’s new buzz on this subject after the book, “Throw Them All Out,” by Peter Schweizer, was featured Sunday night on CBS’ “60 Minutes.”

    The book includes passages about how Bachus made money in 2008 by making trades against the market after attending secretive closed-door meetings about the impending financial meltdown with Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke.

    While what Bachus did is not illegal, Breitbart said in the interview that it’s “egregious” and “fundamentally unethical.”

    “I am calling for Spencer Bachus to step down,” Breitbart said in a radio interview. “Not from being the head of the House Finance Committee, I think he should be in Joe Paterno-ville. He should be an exile in Alabama-ville.”

    On “60 Minutes,” reporter Steve Kroft said Bachus’s office responded to the charges by saying he never trades on non-public information.

    Speaking broadly about the many members of Congress who have engaged in trading using insider information, Breitbart said he wants “to see these people taken down. And by down, I want them to suffer Anthony Weiner’s fate — I want them to step down.”

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    • Rob  •  Little Rock, United States  •  6 mths ago
      Write your congressman and tell them you except them to get the Stock Act up for a vote. It is about time we try to get control of these people that are elected to represent us! Inside trading: we go to jail and they get rich!
    • Jon  •  Fort Smith, United States  •  6 mths ago
      Any of them that used insider information should have to resign!!!!! Just goes to show you they can't be trusted and I mean most all of them both dems and repubs.
    • Average Joe  •  Washington, United States  •  6 mths ago
      Why isn't this activity illegal? Aren't our representatives supposed to be beyond reproach? Held to a higher standard? Devoid of potential conflicts? DISGUSTING.
    • Well; Duh!  •  6 mths ago
      Those with access to critical "insider" information should be punished severely for profiting fromsuch information!
    • DaveBliss  •  6 mths ago
      The important thing in this is what the people of the 6th Congressional District in Alabama are going to do about this. Because if Bachus resigns, and the people just elect someone like him, nothing is resolved. The fact is, that if we want change in Washington, it has to take place on the local level, or we just get the same useless leeches that we get every election.
    • bruce  •  Kansas City, United States  •  6 mths ago
      Insider trading is only illegal when you are poor and really need the money.
    • stillcan'tbelieveit  •  6 mths ago
      No mention of Pelosi in the article, I wonder why that is???
      • Linda 6 mths ago
        Your bipartisan bickering is base and tiresome. Most Americans hate Republicans AND Democrats. Stop trying to divide us. You are a troll for the elites.
      • AlbanyJim 6 mths ago
        well if you did your homework or actually read the book or listen to the news you would know that this information is extremely hard to come by as they do not need to disclose it and it is not foliable - so sure she can be one as can the majority of congress. Ummm thats why one of the books is titled throw them all out. Or is all too big of a word for you
    • michael  •  Albany, United States  •  6 mths ago
      These people are too connected and above the law! Nothing happens to them they are above any laws!
    • Mercury  •  6 mths ago
      What the article should talk about is that alot of congressmen, do better in the stock market then most traders and analysts, much more so. Although the republicans tend to do it more often,, there are democrats who have done so to. And yes, their shoudl be a law in place to prevent this from happening...If we did it...they would call it insider trading and throw us in jail.
    • Coco the Wonderchimp  •  Madison, United States  •  6 mths ago
      If Bachus did that, he should go. But Breitbart is like the most dishonest person in all of politics so it's hard to put stock in anything he's got to say. I guess even a broken clock is right twice a day.
    • No_crybabies_allowed  •  6 mths ago
      We just need to demand they make it illegal for any congressman to own stock while in congress. If you have stock or funds, you must transfer it to non-tradable assets while in office.

      Shoot, make it a law for all elected officials. It won't make them honest, but it will take away one of their practices in which they deceive the public each day
    • Yahoo  •  6 mths ago
      prove it butt wipe...if he steps down so does everyone involved in fast and furious ansd solandra loan..Everyone including Obama..
    • Pin Code  •  Hialeah, United States  •  6 mths ago
      So how is it members of Congress don't have to follow the laws for the rest of us? Is it because they write the laws? Too many lobbyists? Too much PAC money? The Stock Act should be passed NOW, lobbyists should be banned, and end the PAC's...we all know they are nothing more than a legal exception to the candidate contribution law. 60 Minutes - great show...don't stop now...go round 'em all up. Pelosi and Boenher looked like deer in the headlights last night.
    • MIKE  •  6 mths ago
      Does that apply to Nancy Pelosi and her millions she made off of her VISA deal, or are we not suppose to talk about that?
    • Richard Dimarzo  •  6 mths ago
      they all need to go.....
    • brainsaladsurgery  •  6 mths ago
      "There is no law against members of Congress making personal investments with inside information gleaned from their powerful positions...." That's right, I forgot. Congress lives by a completely different set of laws than the rest of us.
    • Ryan Chandler  •  6 mths ago
      "There is no law against members of Congress making personal investments with inside information gleaned from their powerful positions"#$%$!!!!
    • It's Almost Time. It& ...  •  6 mths ago
      AMERICA has been biting and swallowing THE BULLET since 9/11, but we can't use the Constitution as toilet paper as obama has been doing since illegally becoming president. Can we say obama has a DIRTY MOUTH? We do know he was given a BIG MOUTH from satan, his father. The problem is, unlike the Orbit chewing gum commercial, we will not be able to get rid of him "for a good clean feeling, NO MATTER WHAT!" He is here to STAY.
      Barry Soetoro (Obama) SOON will become a DICTATOR using the “USA Patriot Act” that will give him TOTAL power control. Forget the CONSTITUTION/Bill of “Rights.”
      The N.W.O. elite, obama and ALL our POLITICIANS are using them as toilet paper!!!
      ALL DEMS & REPS: obama, Clinton(s), Bush(s), Pelosi, Cain, Paul, Bachmann, The FEDS (above ALL), Congress, the Armed Forces, etc, do NOT care about us AT ALL. Capisce???
      THEY are BRINGING THIS COUNTRY DOWN and they SHALL SUCCEED, just as they did on 9/11/2001. For it is WRITTEN!!! Take a good look at REALITY, the END of TIMES. THINGS ARE NOT NORMAL. obama has a big mouth because of his father, satan, NOT BECAUSE HE IS SMART!!! With he’s new “CAN’T WAIT”/”COMING FROM BEHIND” G.A.Y. slogans he wants to deceive the NAÏVE VOTERS, the MAJORITY. Barry Soetoro knows he is a total failure, as well as his “Yes, We Can,” (actually "NO, YOU CAN'T!") and that he has nothing but little time to fulfill his satanic New World Order MISSION.
      ALL the MEDIA, TV Channels, “celebrities”, big businesses and most influential people, are OWNED by the satanic elite. Notice that asking for locations started right after Yahoo! and ABC News became partners. FEMA needs them for their DEATH & CONCENTRATION CAMPS. LETTING OBAMA DECEIVE you means GOING TO HELL. No jobs and he is “worried” about our HEALTH? The OBAMACARE chip is THE MARK OF THE BEAST,
      the 666 obama’s mark, IS HELL CARE! Research FEMA (coffins, trains, etc), TSA, HAARP and the “Patriot” Act. See for yourself. Our OWN government and our OWN politicians are OUR worst ENEMIES. WAKE UP NOW! “BLACK” obama is only HALF human, with a human WHITE mother and satan is the father. Obama is very BLACK…in his heart! He is NOT HUMAN or AMERICAN. He is a DEMON from HELL, born in KENYA.! GET IT THROUGH YOUR HEADS!!! Do not let barry DECEIVE you. You shall be sorry if you do. You will be given HELL CARE, in HELL!!! Remember Ephesians 6:12 = For we are not fighting against flesh-and-blood enemies, but against evil rulers and authorities of the unseen world, against mighty powers in this dark world, and against evil spirits which are under Heaven. OBAMA IS THE ANTICHRIST! WAKE UP NOW BEFORE IS TOO LATE!!!
      Our LORD and SAVIOR is AT THE DOOR. HE IS HERE. WAKE UP, Wake up NOW! Wake up! LISTEN UP: Receiving a letter, a personal check, any type of help, or WHATEVER from obama, means one thing only: YOU ARE RISKING SELLING YOUR SOUL TO SATAN.
      You are COMMANDED to WATCH, not to worship the beast. DO NOT allow barry to DECEIVE you. Do not become HIS SLAVES. Once in HELL, NO WAY BACK! THEN YOU SHALL KNOW WHO soetoro IS! Keep your eyes FIXED on JESUS. SEEK HIM!
      For those in WONDERLAND, I encourage you leave video games and porno movies alone and to pay attention to these words. Your replies are very welcome. Rather, spend your time getting straight with THE ALMIGHTY, the ONE WHO made YOU and your master. Time is SHORT, USE IT WISELY!!! GOD BLESS YOU. GOD LOVES YOU ALL. HE IS waiting for YOU. WAKE UP! JESUS, our LORD and SAVIOR, is AT THE DOOR. HE IS HERE. WAKE UP NOW! HE IS waiting for ALL of HIS children to come to HIM NOW in complete repentance and obedience. DO NOT BE LEFT BEHIND. AFTER THE RAPTURE THINGS WILL BE REALLY BAD!!! Time is SHORT, USE IT WISELY!!! WAKE UP NOW, NOW!!!
      There will be great suffering, torment, misery, hunger, poverty, persecution, TORTURE (FEMA concentration camps: to force you to take the 666 OBAMACARE mark).
      Got questions? Ask GOD. For ALL your answers READ GOD’s WORD, The BIBLE. AMEN!
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