GOP financial chairman bets onStocks tanking

CBS News’ 60 Minutes aired a report last night alleging that several members of Congress have traded stock using information they received during private briefings or meetings, enabling them to profit from inside information. By far the most damning story was about House Financial Services Chairman Spencer Bachus (R-AL), who in 2008, the day after receiving a private briefing from the nation’s chief economic officials on the extent of the financial crisis, proceeded to bet that the stock market would tank:

http://thinkprogress.org/economy/2011/11/14/367446/one-day-after-attending-pr...
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