Hopefully our fave hedge fund manager in Congress can put this behind him quickly and go back to compounding returns at absurdly high levels…
WASHINGTON – The chairman of the House Financial Services Committee, Spencer Bachus, which oversees the U.S. banking and financial services industries, is under investigation for possible violation of insider trading laws, The Washington Post reported on Thursday.
The Office of Congressional Ethics began investigating Bachus, an Alabama Republican, late last year after focusing on a number of suspicious trades on his annual financial disclosure form, the Post reported, citing sources familiar with the case.
I mean, when you’re actually the people making the laws, you tend to have to some pretty good insight into what’s going to happen, right? How can you not trade on that, it would be a sin!