May
2012
Tuesday, May 25, 2010
Robert O'Harrow Jr. and Dan Keating, Washington Post, 

Stockbroker turned politician, Rep. James Moran illustrates Congressional conflict of interest

Long-standing congressional ethics rules allow almost any kind of trading and investment, subject in general to the judgment of individual lawmakers - whose judgment we all know is beyond reproach. It should come as no surprise that the standards Congress applies to themselves stand in stark contrast to rules the lawmakers have mandated for others in government and the private sector. [WAPO]

Rep. James P. Moran Jr. (D-Va.), a member of the powerful House Appropriations Committee, brought a swagger to both endeavors, sometimes winning big, sometimes losing big. At times, his investing became so busy it verged on what later came to be known as day trading.

Moran's dual focus illustrates the latitude that every lawmaker has under congressional rules to invest largely as each chooses, a much less regulated approach than what Congress has required for other government officials and private-sector executives. [WAPO]

I do not care whether Rep. Moran has a stock market gambling problem, nor do I care whether or not his "bets" were in small denominations. The fact that he has admitted to accepting $75,000 in payments from a lobbyist and an AOL big-wig should get him fired.

Compound his daytime gambling behavior on his taxpayer-paid-salary, and his acceptance of "gifts", with the revelation that two companies (General Dynamics and BAE Systems) he held stock in magically received a visit from the Congressional Tooth Fairy to the tune of $3.2 million ... What will it take to get this worthless sleazebag fired?

Congress epitomizes "Do as I say, not as I do".

Posted by Editor on 05/25/10 at 04:53 AM •  (0) Comments

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"I'm not an angel but I'm not a crook. I have not done anything that any other public official hasn't done."
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