I know what to buy, or short

Lawmakers Bet on Firms They Oversaw

In 2009, amid the federal government's most aggressive intervention in the U.S. economy in decades, some members of key congressional committees placed bets with their own money on the stocks of companies they helped oversee, according to a preliminary analysis by The Wall Street Journal of public disclosure filings made public Wednesday.

The Journal has reported that some members of Congress or their spouses made bets during 2008 that U.S. stocks and bonds would fall in value. There isn't evidence that any of the 2009 trades identified by the Journal involved nonpublic information or broke any laws. Members of both parties and both chambers traded regularly, although in some cases the trades were made by spouses rather than by the legislators themselves. Whereas many government officials are prohibited from making certain types of investments in which they might have a conflict of interest, members of Congress face relatively few restrictions.

Under the codes of ethics set by the House and Senate, members are generally free to trade stocks or other securities—and to "sell short," or bet that investments will fall in price—even in the case of companies whose fortunes may be directly influenced by legislative actions.

Nice way to make a living.