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Friday, February 10, 2012
Alabama Congressman Spencer Bachus is under fire. Bachus is under investigation by the Office of Congressional Ethics. They are looking into possible violations of insider-trading laws.
Bachus is chairman of the House Financial Services Committee. The Washington Post reports investigators are examining whether Bachus violated Securities and Exchange Commission laws that prohibit individuals from trading stocks and options based on inside information. They are also looking into possible violation of rules that prohibit members of Congress from using their public positions for private gain.
Bachus has denied he did anything wrong in his financial investments.
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