You know the joke. What’s the opposite of progress?
Love that joke. Hate this story.
From Conor Friedersdorf at the Atlantic:
So says a study just published in Business and Politics. A portfolio that imitates the stock purchases of House members outperforms the market by more than 6 percent in the course of a year, its authors found. “A previous study of the stock returns of U.S. Senators in a leading finance journal indicates that their portfolios show some of the highest excess returns ever recorded over a long period of time, significantly outperforming even hedge fund managers,” they wrote. “Until now, there has been no similar study of Members of the U.S. House of Representatives.”
It doesn’t surprise me. But it seems like such an easy fix. Where’s the legislation?
Oh. Right. Congress.
Read the rest:
Are Members of Congress Engaged in Insider Trading? – The Atlantic