Page 72 - Inside Information News Today

>> rick: serious insider trader allegations against congress in a new book called "throw them all out." the author claims lawmakers are getting rich off their access to private information. joining us live is the author, peter. reading your book, i thought, im in the wrong business. i should have become a congress member. >> yeah. you can serve the public and your own portfolio at the same time in ways that nobody else can. its really one of the laws that exist that makes it very enticing frankl...

And was hit in the face, the nose did not start out in crooked. >>peter: what can we do do stop this? a couple hundred millionaires, in the congress, and is the congress getting rich off of inside information? what is your thought of how to stop it? >>guest: well, the vast majority are not getting rich by being in congress. in fact, full disclosure, i left the bench to run increase congress so i could legislate and my wife and i cabbed out all of our asset except our home so we could live while ...

>> oh, youre one of those. my goodness. well, its really good to see you. >> pleasure to be here. >> please say helloç to chris lake for me. >> i will. >> ask him what his nickname is. >> is that inside information? >> it is. ill trade it with you. >> depends on what it is. >> its good. all right. coming up next, an exclusive first look at "time" magazine. more "morning joe" in just a minute.

Trading in stock based on insider information they get. something to the shock of many is now perfectly legal. new york democratic senator kirsten gillibrand joins me from the hill. you represent the largest financial community in the world. this is a big shock to a lot of people. it was first reported on "60 minutes" this weekend that people on the hill can get briefeded by the head of the fed, the treasury secretary and particularly staff members can tradeimpunity. >> its unconscionable. the a...

Creation. >> and the super committee, time is running out and the leadership has gotten involved. is there any kind of indication from your inside information that they are getting to an agreement or are they about to break apart? >> a lot of us are hopeful the super committee will reach a bipartisan solution for the long term health of the economy and this country. a lot is riding on it and a lot of us are encouraging them to make the judgments necessary. one thing im hoping they add to the dea...

Encouraged, i think, but the fact that we can begin to have this conversation and start a path towards resolution, not only of the banks that are too big to fail, but also of the ncaa, which maybe in our metaphor will be the federal reserve, perpetuating the large institutions. dave, well talk to you next time. coming up here on "the d.r. show," the report everybodys talking about that proves what we talk about here all the time. politicians profiting from inside information they get as lawmaker...

focusing their attention on mitt romney. paul is standing by. im wolf blitzer. im wolf blitzer. youre in "the situation room." -- captions by vitac -- www.vitac.com as controversy swirls around him, republican front-runner, herman cain, went behind closed doors with republican lawmakers on capitol hill. just a brief respite from the storm that has blown over previously undisclosed sexual allegations. earlier today, cain suggested some sort of conspiracy is at work, but he insisted he...

from the u.s. embassy in saudi arabia. the embassy says it received information about a terror plot to kidnap westerners in the saudi capital of riyadh. the warning urges u.s. citizens to mix up their normal routines and to keep aware of their security at all times. however, the state department says there is no reason for u.s. citizens to leave saudi arabia. this afternoon, secretary of state hillary clinton indicated the united states will soon formally declare pakistans haqqani netw...

thats more than were killed by hurricanes, lightning, tornadoes, and floods combined. cnn meteorologist chad meyers joins us. its more than the heat. >> its more than humidity. if you set your steam roam at a gym at 105. that feels like 200 degrees. even though its 105, it feels so much hotter because your body cannot perspire, and it cannot cool itself down. a sauna is 160 or 170, but it feels cooler because the air is dry. now, this is a 10-year average, 170 people die of heat-relate...

Greedy getting agreedier. >> neil, i think well see over and over. with the bad economic downturn, were able to see the prosecutors, the district attorneys, the federal prosecutors, all of this information is coming to the surface, because people lost money. people lose money, they go to all different places complaining. what happened? my hedge fund lost this. then the investigation starts. >> neil: its been a long time, right? at issue, this guy was trading on inside information. he says it was...