Congressional Campaign Accounts Invested In Stock Market Boosted By Wall Street Bounce

Roll Call:

The recent surge on Wall Street has created a windfall for some Congressional campaigns that invested their political contributions in the stock market during the third quarter.

The biggest beneficiary was Rep. Joe Barton (R-Texas), whose campaign investments have gone on a rollercoaster ride during the past two years. After losing more than $808,000 during 2008 and early 2009, the Texas Republican's campaign fund rebounded by recouping large sums of money in recent months.

Read the whole story: Roll Call

Comments

[BambooHarvester]

I wanna see bankers jumping out windows !
~

[vlm1948]

Can't believe this is legal.So many crooks in Washington,

[toinfinityandbeyond]

This story really ticks me off and is a perfect example of greed and human nature. There should be a law preventing this from happening. You get a financial donation, fine. But a law that states that such funds can't be used for a multiplier effect should be in place. Either that or you go the public funding route and if that isn't the answer, allow for every Congressman and Senators phones to be tapped and made public so that we can all benefit from insider trading information. I know that one will never fly as they only tap we the unclean masses. Just a thought though.

[worldb]

Public financing of elections...

[Whalen1776]

TREASON!

[toinfinityandbeyond]

How much more cozy a relationship can the Washington elite have with Wall Street than to invest your campaign contributions from the very people who brought the system down and then invest those same funds and make a killing? The link between money and politics must be cut once and for all. I'm not surprised in the least that these people are making a killing while the middle class or what's left of it survives on what few crumbs are left on the table.

[sheine]

It would have been difficult for anyone to lose money by investing in the stock market at the beginning of this year. It was a no brainer.

[Patriot til Death]

Is it a conflict of interest to have Congress invest in stocks? I mean, wouldn't you use your inside knowledge to move your money around? I don't think this is a good idea.

[tompoe]

Hopefully, donors will be getting dividends paid on these campaign investment accounts, right?