Here's Why Congressmen Are Allowed To Make Insider Trades

Here's Why Congressmen Are Allowed To Make Insider Trades

As we mentioned a couple months ago, Congressmen aren’t subject to the same insider trading regulations as the rest of us. Some elected officials have reportedly crossed the ethical line to inflate their personal wealth, using secret knowledge to make timely stock trades. [More]

Congress Lifts Ban On Funding Horse Meat Inspections, Slaughterhouses Could Open Soon

Congress Lifts Ban On Funding Horse Meat Inspections, Slaughterhouses Could Open Soon

Modern Americans love our horses, and not for eating, so we’re betting the news that Congress has lifted a ban on funding horse meat inspections, potentially enabling slaughterhouses to open, will be met with a bit of outrage. It’s not a simple matter, however. [More]

2nd Air Traffic Controller Could Be Fired For Snoozing On The Job

2nd Air Traffic Controller Could Be Fired For Snoozing On The Job

The second air traffic controller in a month could lose his job for catching some z’s up in the tower. FAA Administrator Randy Babbitt told Congress that the controller was “found intentionally sleeping.” What defines “intentional sleeping?” He had cushions and a blanket, meaning he brought materials to work with him to help him sleep. [More]

House Votes To Stop Funding NPR

House Votes To Stop Funding NPR

Although it’s unclear whether the government will actually stop funding National Public Radio and place the public news source in jeopardy of shutting down, the U.S. House of Representatives took a step in that direction Thursday, voting to strip the organization of federal funding and forbidding radio stations from using public grants to pay NPR. [More]

Congress Issues Subpoena For Info On Countrywide's VIP Mortgage Program

Congress Issues Subpoena For Info On Countrywide's VIP Mortgage Program

Let’s look back to the summer of 2008, when it was revealed that Angelo Mozilo, the curiously orange former CEO of Countrywide, had the company offer below-market “VIP” mortgages to certain politicians and other influence peddlers. Fast forward to the present, where Congressman Darrell Issa, chairman of the House Committee on Oversight and Government Reform, has issued a subpoena to Bank of America, looking for related documents, e-mails and names. [More]

Congressman Dennis Kucinich Sues Capitol Cafeteria After Being Attacked By Rogue Olive Pit

Congressman Dennis Kucinich Sues Capitol Cafeteria After Being Attacked By Rogue Olive Pit

It’s not just ordinary citizens who file big-ticket lawsuits against eateries. Ohio congressman and occasional presidential candidate Dennis Kucinich is suing a cafeteria in the Capitol Complex for $150,000 after a particularly harrowing run-in with an olive pit. [More]

Thanks To Census, Sun Belt Swipes People, Clout From Midwest, Northeast

Thanks To Census, Sun Belt Swipes People, Clout From Midwest, Northeast

Cries of “they took our jobs” can be replaced with “they took our votes,” thanks to census data that will shift seats in the U.S. House of Representatives and electoral votes away from the Midwest and Northeast to southern and western states. [More]

Congressmen Demand Answers On Facebook Privacy Issues

Congressmen Demand Answers On Facebook Privacy Issues

It’s always nice when a Democrat from Massachusetts and a Republican from Texas can work together, though Facebook bigwig Mark Zuckerberg might disagree. The website’s CEO finds himself being asked to answer some tough questions from a pair of Congressmen from those two states. [More]

Colleges Are Now Required To List Textbooks During Class Registration

Colleges Are Now Required To List Textbooks During Class Registration

Finding the best textbooks prices just got a whole lot easier now that colleges are required to provide students with a list of required textbooks when they register for classes. The requirement was mandated back in the 2008 as part of the Higher Education Opportunity Act, but only took effect this year. [More]

Mandatory Binding Arbitration Is Almost Dead

Mandatory Binding Arbitration Is Almost Dead

A provision buried deep within the recently passed Wall Street reform bill has the power to finally kill off mandatory binding arbitration, one of the more dangerous anti-consumer practices still sanctioned by law. While the bill includes a limited provision banishing arbitration agreements from mortgages and home equity loans, it also gives broad powers to the Securities and Exchange Commission and the new Consumer Financial Protection Bureau to kill off arbitration in all other consumer financial products. [More]

Internet Sales Tax Bill Introduced Again

Internet Sales Tax Bill Introduced Again

Last week, Massachusetts Rep. Bill Delahunt introduced a bill called the “Main Street Fairness Act,” which is a stupid name for a bill. The text of the bill hasn’t been released yet, but if passed, it would presumably set up a process where sales tax could be collected on purchases made over the Internet. As anyone who has shopped online over the past decade is probably aware, this has been an ongoing and thorny issue, since billions in online sales tax would provide a welcome revenue stream for struggling states. [More]

House Of Representatives Says "Okay" To Financial Reform

House Of Representatives Says "Okay" To Financial Reform

It doesn’t look like it’s going to make President Obama’s July 4 deadline, but the financial reform bill did manage to squeak through the House of Representatives on Wednesday with a final vote of 237-192. [More]

Congress Won't Let Traders Gamble On Hollywood Box Office

Congress Won't Let Traders Gamble On Hollywood Box Office

If you were planning on putting your kids through college based on your foreknowledge that Toy Story 3 was going to rock the box office, you’ll need to do your gambling on the black market, because Congress has banned Hollywood box office futures trading. [More]

Financial Reform Bill Oks Minimum, Maximum Credit Charges

Financial Reform Bill Oks Minimum, Maximum Credit Charges

The financial reform compromise may keep our financial system from reprising Chernobyl anytime soon, but it will also change the way consumers use their credit cards. Merchants will soon be allowed to refuse plastic for purchases of less than $10, a rate the Fed can boost as they see fit. Both the Fed and universities will also gain the power to set maximum credit charges. That means no more free flights to Europe after charging your kid’s tuition to your rewards card. The changes will go into effect the day after the compromise is signed into law. [More]

15 Ways To Kick Ass When Testifying

15 Ways To Kick Ass When Testifying

If you are victimized by corporate behavior and asked to testify before a legislative body in order to tell your story and help get a pro-consumer bill passed, it can be really scary. You only have a few minutes to make your case. Are you gonna choke it, or clinch it? Just follow these 15 tips I just learned in a Consumers Union Activist Summit workshop: [More]

Congress To GM: Please Stop Destroying Documents While We Still Own You

Congress To GM: Please Stop Destroying Documents While We Still Own You

Though General Motors has made a big deal about allegedly paying back their bailout loan to the federal government, the fact is that most of the bailout money was turned into equity, which means the government — and ultimately the taxpayers — are the majority shareholder in the car maker. That’s why some members of Congress are a little upset about GM’s continued practice of destroying important documents. [More]

Congresswoman Hints That Comcast May Have Tried To Buy Her Support

Congresswoman Hints That Comcast May Have Tried To Buy Her Support

As the merger of Worst Company In America 2010 and only-worth-watching-for-Biggest-Loser network NBC continues to limp forward through the bureaucratic maze, a California Congresswoman hinted not so subtly yesterday that the cable giant had contacted her in a not-exactly-professional manner. [More]

Congress Putting Genetic-Testing Companies Under Microscope

Congress Putting Genetic-Testing Companies Under Microscope

While Walgreens may have voluntarily chosen not to sell home genetic testing kits in the face of an FDA investigation, its action has brought attention to the entire for-profit testing industry, and others may not have the luxury to quietly shut down on their own. A congressional committee is looking into the business, and could end up regulating the industry. [More]