He 's refreshing my shot brain/memory:
http://aud1.kpfa.org/data/20080107-Mon1200.mp3
The Power of the Rich by William K. Tabb
==
Once in office elected officials tend to get far richer
than they were when they entered politics. They are cut
in on various deals. They become unusually successful
investors. Empirical investigation reveals that in any
given year between 1993 and 1998 senators who played the
stock market did remarkably well. It turns out they were
prescient in anticipating the market’s movements up and
down, purchasing a particular stock before it took off
like a rocket and dumping stocks just in time. Consider
a landmark study in the Journal of Financial and
Quantitative Analysis, which took eight years to
complete because there was no data base from which the
scholars could work and they had to develop one,
gathering and examining data manually. They found that
the stock portfolios of a random group composed of tens
of thousands of households underperformed the market as
a whole by 1.4 percent annually. Corporate insiders beat
the market by 6 percent. But the senators (including
their spouses and children) beat the market by 12
percent a year.... ==
http://www.monthlyreview.org/0706tabb.htm
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