Well, I’ve been gathering these for a while now. Time to post these photos, cartoon, images, etc. which are all politically based. More…
Should voters be the ones to determine whether or not the Members of Congress receive a raise? This is something I have been mulling over for a while, and I do firmly believe we should. After all, Congress works for the people. Excluding self-employed and small business owners, how many jobs have you held where you got to determine your own raise each year? Come on, hold your hands up high in the air so I can see them! What? No hands? None of you have had the luxury of setting your new salary? More…
When the 113th Congress was sworn in last week, a new record was set. There were a total of 100 women between the House and Senate. The House of Representative brought forth 80 to join the 20 from the Senate. A record. Slowly the good ol’ white boy network is being whittled away – as it should be. More…
Here is an infographic about student loan facts created by “Rebuild the Dream.” It is mind-boggling to see what students are up against in order to gain a higher education – a college diploma. Our education system has turned into a “damned if you do, and damned if you don’t” choice upon graduating from high school. You are damned if you go simply due to the overwhelming about of debt a student will incur upon graduating. But if a high school grad decides to opt out of a college education because of the cost, then they are forever bound to lower paying jobs and fewer – if any – benefits.
“Under President Obama, Gas Prices Have Soared….”
“The Keystone XL Energy Pipeline is a proposed crude oil pipeline that is 36 inches in diameter and 1,700 miles long that would extend from Alberta, Canada to the Gulf Coast of the United States. The construction of the pipeline would create more than 20,000 direct jobs and 118,000 indirect jobs while battling the high cost of gas….”
These are only a few of the lies being told by Speaker of the House John Boehner, as well as Mitt Romney and the Republican Party as a whole. I am sure there are plenty of Democrats, too, but I it appears as though the GOP has an specific agenda in mind…. All you have to do is remember what Mitch McConnell said about making sure Obama is a one-term president. Our Congress has the power within their grasp to turn our economy around and create more jobs. But will they? No they will not. We are all martyrs to them simply and purely because they will not purposely do ANYTHING which will make President Obama look good.
One of the leading causes to the downfall of our government is the amount of insider trading which has been occurring for many years now. When our members of Congress invest in corporations, then support and pass bills which will encourage growth and profit to their investments, this is insider trading. They have been acting in behalf of their own monetary concerns and not in the best interest of the people.
Let’s take John Boehner for example. More…
Here are several visual aids which have been circulating on the internet. Some may make you laugh, but as a whole, they may make you cry. More…
Rep. Waxman is seeking answers from the Kochs, after a SolveClimate News article first exposed the brothers’ deep involvement in the oil sands industry.
By Elizabeth McGowan, SolveClimate News
WASHINGTON—Rep. Henry Waxman’s attempts to find out if a proposed controversial Canada-to-U.S. Gulf Coast oil sands pipeline will benefit Koch Industries appears to have hit a dead end.
Members of the House of Representatives considerably outperform the stock market in their personal investments, according to a new academic study.
Four university researchers examined 16,000 common stock transactions made by approximately 300 House representatives from 1985 to 2001, and found what they call “significant positive abnormal returns,” with portfolios based on congressional trades beating the market by about 6 percent annually.
What’s their secret? The report speculates, but does not conclude, it could have something to do with the ability members of Congress have to trade on non-public information or to vote their own pocketbooks — or both.
A study of senators by the same team of researchers five years ago found members of the higher chamber even better at beating the market — outperforming it by about 10 percent, an amount the academics said was “both economically large and statistically significant.”
“Being one of 435, as opposed to one of 100, is likely to result in a significant dilution of power relative to members of the Senate,” the researchers wrote.
The researchers, Alan J. Ziobrowski of Georgia State University, James W. Boyd of Lindenwood University, Ping Cheng of Florida Atlantic University and Brigitte J. Ziobrowski of Augusta State University, noted that the circumstances are ripe for abuse.
“In the course of performing their normal duties, members of Congress have access to non-public information that could have a substantial impact on certain businesses, industries or the economy as a whole. If used as the basis for common stock transactions, such information could yield significant personal trading profits,” they wrote.
At the same time, House rules don’t require them to divest themselves of common stocks when they assume office, don’t prevent them from trading freely while in office — and don’t require them to recuse themselves from votes that could affect their own interests.
The House ethics manual clearly states that “all Members, officers, and employees are prohibited from improperly using their official positions for personal gain” and members must disclose their holdings annually.
But the House’s official position is that demanding that members either divest themselves of potential conflicts or recuse themselves when there is a conflict is “impractical or unreasonable” because it “could result in the disenfranchisement of a Member‘s entire constituency on particular issues.”
Ever since 2006, a small coterie of Democrats has been trying to officially prohibit members of Congress and their staffs from using non-public information to enrich their personal portfolios.
The Stop Trading on Congressional Knowledge (STOCK) Act was most recently re-introduced in March by Reps. Louise Slaughter (N.Y.) and Tim Walz (Minn.). It has not been heard from since.
The study found some significant difference based on party membership and seniority, with the Democratic sample beating the market by nearly 9% annually, versus only about 2% annually for the Republican sample.
And representatives with the least seniority considerably outperformed those with more seniority.
Why would that be? The researchers suspect need had something to do with it. “The financial condition of a freshman Congressman is far more precarious” than a senior member’s, they wrote. “House Members with the least seniority may have fewer opportunities to trade on privileged information, but they may be the most highly motivated to do so when the opportunities arise.”
The report does not make any firm conclusions on causality, although the researchers explain that their kind of “event analysis” has become a common “method for analyzing whether actors have profited from confidential information in their possession.”
Posting from Huffington Post
First Posted: 05/24/11 03:58 PM ET Updated: 05/24/11 04:39 PM ET
Dan Froomkin is senior Washington correspondent for The Huffington Post.