Throw Them ALL Out - Review of Peter Schweizer's book on HUMAN EVENTS - 0 views
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Peter-Schweizer Throw-Them-All-Out Federal-Gestap Crony-Capitalism Crony-Socialism Obammunism
shared by Gary Edwards on 16 Nov 11
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Gary Edwards on 16 Nov 11n a chapter titled "Breaking the Back of Crony Capitalism," Schweizer lays out some much needed reforms that he hopes are undertaken. Here are some of his proposals: * Create a legal code that makes trading on nonpublic government information illegal both for those who pass the information and for those who trade on it. * Corporate insiders trading their own company's stock are required to disclose these transactions to the SEC within two days. Why not apply the same standard to Congress? * Members of Congress should not be allowed to trade stock in companies that are overseen by their committees. * Apply whistleblower laws to Congress. If it's good enough for federal workers and corporate employees, it should be good enough for Congress. * Disallow "sweetheart" IPOs. Unless the initial public offering goes through a public auction, in which people can openly compete for shares in a bidding contest, members of Congress should not be allowed to participate. * Family members of legislators should not be allowed to become lobbyists. * The federal government needs to get out of the business of offering grants and taxpayer-backed loans. Americans who have suspected that Washington does not have their interests at heart and wonder on their trips to the nation's capital how it is such a gilded boomtown will get answers in this book. The country is at the beginning stages of a citizen revolt against the permanent political class whose interests are tied to the crony capitalistic system that benefits their own self-interest.