Congress Quietly Repeals Congressional Insider Trading Ban<quoted text>
These representatives get wealthy by inside trader information, at least that's one way.
What happens to these retired politicians? The become "consultants" for companies that benefited from the way they voted while in office. These "consultants" are valuable to a company because they have good friends that are still in Congress.
So you leave a government job that paid $180,000 per year to become a consultant at a private firm making $300,000 per year. Tough job, but somebody has to do it.
By Sakib Ahmed on April 15th, 2013
Both parties and both houses of Congress hated the disclosure portion of the law so much that it was repealed on Friday without debate—the measure was sent to the president by unanimous consent. The ordeal took about 10 seconds in the Senate and 14 seconds in the House, according to official records.