Explaining Southern California's economy

Congressional insider trading: Best piece of '60 minutes' theater in years

 

The best thing about "60 Minutes" in the Dan Rather/Mike Wallace glory days was when the reporters would just show up someplace with a film crew and start asking uncomfortable questions. Watch 'em squirm! 

This past weekend, Steve Kroft took a page out of that playbook and turned the cameras on...Members of Congress! The issue is insider trading — or maybe more accurately, trading on "non-public" knowledge. The Congress has ethical rules about insider trading, but it exempts lawmakers from...well, the laws that govern people in corporate life. 

This is TV, of course. So take what you see with a grain of well-edited salt. But the members that Kroft and the CBS cameras track down don't really come off looking too good, even if they may have done nothing wrong. What's disturbing is their collective "What, me worry?" reaction to the simple inquiry. You're seriously telling us that you don't know this is kinda sorta going on, even as you enter Congress with investment portfolios?

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Visual Aid: Andy Rooney calls its quits, may have to steal more bread now

He's been doing it since 1978. He's 92. And now he's finally quitting. Andy Rooney will no longer contribute his endearingly grumpy broadcast-ending segments to CBS's "60 Minutes." I assuming Andy will be OK, even though he says he invests in the stock market without really knowing what he's doing and steals bread from restaurants to save money. I'd embed these videos, but CBS won't allow it! 

Follow Matthew DeBord and the DeBord Report on Twitter.

Photo: Stephenson Brown/Flickr

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