Insider trading is considered such a serious offense by the federal government that it routinely prosecutes people and sends them to jail for it — unless you’re a member of Congress, in which case the rules don’t seem to apply.
Spencer Bachus is a Republican congressman from the district in Alabama where I live. I’ve met him and I have friends who know him, but I can’t say I know the man. He’s been in the news lately, but for all the wrong reasons. When CBS News’ magazine “60 Minutes” ran a story last Sunday about members of Congress who were involved in insider trading, Bachus was prominently mentioned. It appears that Bachus was taking secret information he was getting as a member of the House Committee on Financial Services and using that to trade banking stocks that he knew were about to go down in value.
Bachus says that nothing he did was illegal, but he also says he quit trading stocks late last year. I wonder why he quit doing what he was doing if it was perfectly legal and ethical.
Here in Alabama, many conservatives and Republicans are outraged about Bachus’ behavior and are calling on him to resign. About 50 or 6o conservatives gathered at Bachus’ Birmingham office Thursday to protest.

What evil lives in the heart of man who can kill his wife, daughters?
‘What’s the worth of one warm smile? Go and ask the dead man’
Without real human connection, we’re just living in a simulation

Do we really need so much ‘stuff’? Do we own it? Or does it own us?
Finding your own authentic voice is riskier than copying everybody else
AUDIO: What if she was right? Maybe I am the real ‘product’
Why did I really feel annoyed? They were happy; I was jealous
Fear of Big Brother: What good are rights if you’re afraid to use them?