International Coverage: Australia’s National Paper Weighs In

The Australian files this report today,  penned by Nico Hines, the Washington correspondent.  It starts:

WHILE the financial crisis rages around them, leading US politicians are accused of making millions of dollars through loopholes in insider-trading laws and lucrative land deals assisted by government funding.

Members of congress, who are worth more than $US2 billion ($1.94bn) between them, increased their personal fortunes by almost 25 per cent between 2008 and last year, a period marked by falling stockmarkets and investor confidence.

In Throw Them All Out, a book published in the US overnight, Peter Schweizer argues the political class enjoys a legal framework that allows members to make multi-million-dollar Wall Street deals free from the scrutiny of insider-trading laws or conflict-of- interest legislation.

“There’s a huge problem of self-enrichment,” Schweizer said. “Politicians tend to be extraordinarily good in terms of their stock picks so you have to conclude that these are brilliant people or something’s afoot.”


3 Responses to “International Coverage: Australia’s National Paper Weighs In”

  1. marc j November 15, 2011 at 8:01 pm #

    I liked you on Ingram today. Nice to hear the truth, no matter how bad it is.

  2. drhill November 15, 2011 at 9:05 pm #

    What an excellent piece of research! This will be a very big discussion point for a long time to come. Well done!

  3. Lance November 16, 2011 at 2:57 am #

    You don’t know me, and I hardly know you, but, there is something seriously obscene when people we elect in good faith create an environment to abuse that priviledge. I will do anything to facilitate the educating of the masses to this absolute abuse of office.
    You have articulated something I have felt for years and, furthermore, documented the BS going on for the average guy.
    Thank you for your efforts to enlighten.
    Let me know what I can do to help throw them all out.
    Lance Hill
    Shoreview, MN
    US of A

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