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Mars Report: News Posts In Category <em>   Senate Exposes Gaping Hole in Conflict-of-Interest Law</em>

Senate Exposes Gaping Hole in Conflict-of-Interest Law

Published December 19th, 2010
Senate panel ban seen as double standard.

Just days after I opened an exploration of the way humans view conflict of interest, and how their personal self-interest makes understanding the way this topic is approached in different contexts, the Washington Post publishes a front-page article that exposes the kind of conundrum I'm planning to look into.

The Senate, you see, has no laws restricting the investments its members can make into companies whose fortunes their votes may affect. In particular, they may freely invest in companies that are major players in specific industries overseen by Senate committees. In the Post article, the industry is defense, and the committee typically has "inside knowledge" into the defense systems that will be built, and which companies will benefit from their votes.

This seems strange enough, but as the Post article points out, the Congress has passed laws that prohibit such investments by those appointed to run the agencies — such as Defense — that will let the contracts to carry out the Senate's decisions. Not only that, but such laws have long been on the books to regulate investment behavior by rank-and-file Federal employees.

    
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