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Jon Stewart Takes On 'Political Intelligence' vs. Insider Trading In Washington (VIDEO)

First Posted: 02/16/2012 10:17 am Updated: 02/16/2012 10:17 am

Jon Stewart took a break from mocking Fox News Wednesday night to react to the unsettling trend of Congresspeople participating in a legal version of insider trading under the guise of "political intelligence."

Unlike people who trade stocks using non-public information who get sent regardless of status (remember Martha Stewart?) it's perfectly legal for public intelligence gatherers to take tips from Congress and sell them to hedge funds, as a recent "60 minutes" special pointed out. Even former and current House Speakers Nancy Pelosi and John Boehner were accused of profiting from such deals. If you're like Stewart, you're probably wondering, "How is that not illegal?"

"It's a system of checks and balances," Stewart said. "They deposit checks, it increases their balances."

Once the issue of public intelligence became more public, some people spoke out, saying it's not fair that congresspeople be protected any more than the average person. "I believe that was in the 'No Sh*t Sherlock Act,'" Stewart joked.

Watch part one above and part two below to witness Stewart's full outrage at the concept of the ironically named political intelligence, including how House Republicans and Sen. Joe Lieberman added insult to injury by rejecting a proposal to make it more transparent.

Bonus: he does an extended version of his Joe Lieberman/Droopy Dog impression at the end of part two.

WATCH: Part two



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Filed by Katla McGlynn  |