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They are definitely a group that is picked for their passion for government affairs and who keep abreast of economic trends that affect the country.
Also, it is not necessarily the case that one who has insider knowledge will necessarily use it. One legislative aide remarked that he bought his shares at 12:50 P.M. On a date well after it was widely reported in the media.
It is extremely important that the Government create regulations to address insider trading. However, it may prove futile to prevent insider trading only, as the real danger of insider knowledge is that it might be passed on to larger groups of investors associated with congressional staff. Considering this, it may be necessary to create a new non-partisan agency to investigate the dealings and associations of congressional staff.
Partly because of the recent financial meltdown and the Government's self-interested response to it, citizen...
Many question the ethics and even the morality of our political leaders and lawmakers. Thus, it is important that the Government make efforts to regulate ethics not only to discourage foul play, but to alleviate the public perception of foul play in Congress. Only then can the Government start to regain the trust of the public.
Bibliography
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
Bibliography
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
BRODY MULLINS, TOM MCGINTY and JASON ZWEIG, Congressional Staffers Gain From Trading in Stocks, OCTOBER 11, 2010. Wall Street Journal.
Capitol Hill's Stock Trading: What the Academic Research Concludes, OCTOBER 11, 2010. Wall Street Journal.
The rules as they are presently enforced only require elected Members and "…about 2,900 of the highest-paid congressional aides to disclose information once a year on their finances" (including gains from trading stocks), Mullins and colleagues point out. What is wrong with that fact is that all aides, not just top aides, should be held accountable for investments they make, in particular those investments made by companies that are in
Even if he hints around in a non-direct way that his friends should sell their stock without coming out and saying it, he may be guilty of insider trading because the information on the merger has not yet been made known to the public. This is unethical and what the corporate officer should steer the conversation in a different direction and if his friends insist on continuing to ask questions
Insider Trading On June 4, 2003, the Securities Exchange Commission announced that it was pursuing charges against investor Martha Stewart and stock broker Peter Bacanovic for securities fraud. The fraud occurred on December 27, 2001 when Stewart sold stock in ImClone Systems, after receiving an unlawful tip from Bacanovic, who at the time was working for Merrill Lynch. The SEC also accused the two of attempting to cover up the insider
Goffer made over $300,000 from the illegal deal. As the case expanded, 13 others were also charged. Altogether, they had acquired approximately $40 million or more in profit during the years 2006-2009 (Krantz). And the list could go on and on. Conclusion - How Does Illegal Insider Trading Affect the Market and Economy? Unfair advantage. Violation of transparency. Disruptive of a properly functioning market. Investors no longer invest. It begins with
If this group thinks that these laws are needed for all the rest of the businesses in the America then they should ethically think that these laws should apply to everyone including them. The fact that Congress is not held to the same standards as everyone else makes them appear untrustworthy and unethical, which undermines the government process as a whole. 4) in your opinion is it necessary to create
Business Ethics Focus on Merrill Lynch According to Laura Hartman and her co-writer, Joe Desjardins in the work entitled "Business Ethics: Decision Making for Personal Integrity & Social Responsibility" philosophical ethics may be clearly differentiated from theological ethics because theological ethics attempted to disseminate the well-being of an individual on a religious basis while the ethics of an individual's philosophy is such that provisions of justifications that can be applied to