Corruption, American style

60 Minutes showed a unique way how the Congress men/women get rich. It is a big loop hole as it is legal for congress men to trade with insider info. When they make some decisions without public knowledge and buy stocks and profit based on the knowledge - it is a crime for the powerful. When they sell this info to others, it is a bigger crime.

In addition, many start new jobs in the companies they gave favors to when their tenures are over. Unlike many global leaders, US presidents are usually not corrupt, but they make a lot of money in their books, speeches…

The lobbyists are corrupt but legally if they lobby within the laws. It is buying influence / access with money. Check how many congress men receive money from NRA and how they return the favors.

It is the mutually beneficial ‘co-operation’ between those who have power and those who have money. I would like to change the phrase 'those who have gold make the rules' to 'those who make the rules own the gold.'

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Corruption is not an American invention but a global problem. Judging on how may bribes you have to pay in order to open a business, India is the worst, China is in the middle and America is not bad. At least it can be shown on American TV.

US is very strict in insider's trading. Recently Raj was fined and sent to jail for 11 years from my memory. Martha was sent to jail too for the same crime. She is famous so the 'kill one and warn hundreds' works. Folk like Bill Gates know the companies they're going to acquire, so Bill's money is administered by a blind trust.

Last year SEC sued a couple in HK in using insider's info to make millions. That's the primary function of SEC. China does not have similar organization and it is a wild, wild west in China with many making money (legally there but illegally here) and there are many frauds. SEC has delisted many Chinese companies.

That's the social injustice the Occupy Wall Street folks should fight, not that much on income disparity. The folks who make the law will not be stupid to make a law to stop their greed until the voters become so furious on this 'legal' corruption.