It’s your move, America: Create change

It is no accident that a growing number of senators and congressmen are supporting an end to insider trading among Washington lawmakers. Given the dismal approval ratings of the nation’s politicians, anything that can raise ratings is at least being considered. But don’t count on the passage of this bill called STOCK (Stop Trading on Congressional Knowledge), which is scheduled for a vote in the next few weeks.In a column that ran in The Lakeville Journal last month (“Gordon Gekko should run,” Nov. 17), I pointed out that our nation’s elected officials were not subject to the insider trading law that regulated everyone else. As a result, individual politicians and their cronies have profited substantially year after year from the knowledge they picked up in closed door hearings, subcommittees and the like.This access to insider information has become even more important over the last few years as more and more market-moving events are triggered by governmental actions. Just consider how government pronouncements in the United States and Europe over the last six months have caused huge market swings. Efforts to change this law have been going on for years with scant success. News stories such as the Wall Street Journal articles on the subject last year and last month’s “60 Minutes” report on the scandal have increased public awareness. I suspect that if their approval ratings were not so low (Congress has a historically low 9 percent approval rating) the politicians would simply ignore the heat, as they have done in the past, and continue to profit at taxpayers’ expense.A month ago, only nine congressmen supported the bill that would require elected officials to report all trades over $1,000 within 90 days. After the “60 Minutes” show, that number increased to 180, and more than 20 senators have since jumped on the band wagon.Today, a cozy relationship exists between politicians, political intelligence firms and big players on Wall Street. There is nothing illegal in a congressman or senator divulging sensitive information to a political intelligence firm which in turn sells that information to Wall Street. The more market-sensitive information that is passed on through the pipeline, the more a particular politician can demand in future campaign contributions from the beneficiaries of that information.This bill would make it illegal for individuals and political intelligence firms to continue that practice. It would also require firms and individuals involved in political intelligence to register just like any other federal lobbyist.Call me a cynic, but I doubt this bill will pass. Not only is lawmakers’ potential for using their office for personal gain at stake, but this bill will also jeopardize the pipeline to campaign funds from those special interests we hear so much about.In a different world, all my readers and everyone in America who cares (the 99 percent), will call or email their representatives in Washington and demand he or she vote for this bill when and if it comes up for a vote. It is your chance to change a lot of what is wrong with Wall Street right now. It’s your move, America. Bill Schmick lives in Hillsdale, N.Y. He is registered as an investment advisor representative with Berkshire Money Management. Bill’s forecasts and opinions are purely his own. None of the information presented here should be construed as an endorsement of BMM or a solicitation to become a client of BMM. Direct inquires to Bill at 1-888-232-6072 (toll free) or email him at Bill@afewdollarsmore.com.

Latest News

Remembering George and Anne Phillips’ Edgewood restaurant in Amenia

The Edgewood Restaurant, a beloved Amenia roadside restaurant run by George and Anne Phillips, pictured during its peak years in the 1950s and ’60s.

Provided

With the recent death of George Phillips at 100, locals are remembering the Edgewood Restaurant, the Amenia supper club he and his wife, Anne Phillips, owned and operated together for more than two decades.

At the Edgewood, there were Delmonico steaks George carved in the basement, lobster tails from an infrared cooker, local trout from the stream outside the door, and a folded paper cup of butter, with heaping bowls of family-style potatoes and vegetables, plus a shot glass of crème de menthe to calm the stomach when the modest check arrived after dessert.

Keep ReadingShow less
Artist Alissa DeGregorio brings her work to Roxbury and New Milford

Alissa DeGregorio, a New Milford -based artist and designer, has pieces on display at Mine Hill Distillery.

Agnes Fohn
When I’m designing a book, I’m also the bridge between artist and author, the final step that pulls everything together.
— Alissa DeGregorio

A visit to Alissa DeGregorio Art, the website of the artist and designer, reveals the multiple talents she possesses.

Tabs for design, commissions, print club, and classes still reveal only part of her work.On the design page are examples of graphic and book design, including book covers illustrated by DeGregorio, along with samples of licensed products such as coloring pages and lunch boxes, and examples of prop design she has done for film.

Keep ReadingShow less

Agnes Martin at Dia:Beacon

Agnes Martin at Dia:Beacon

Minimalist works by Agnes Martin on display at Dia:Beacon.

D.H. Callahan

At Dia:Beacon, simplicity commands attention.

On Saturday, April 4, the venerated modern art museum — located at 3 Beekman St. in Beacon, NY — opened an exhibition of works by the middle- to late-20th-century minimalist artist Agnes Martin.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

Falls Village exhibit honors life and work of Priscilla Belcher

Hunt Library in Falls Village will present a commemorative show of paintings and etchings by the late Priscilla Belcher of Falls Village.

Lydia Downs

Priscilla Belcher, a Canaan resident who was known for her community involvement and willingness to speak out, will be featured in a posthumous exhibition at the ArtWall at the Hunt Library from April 25 through May 15.

An opening reception will be held from 5 to 7 p.m. on April 25. The show will commemorate her life and work and will include watercolors and etchings. Belcher died in November 2025 at the age of 95.

Keep ReadingShow less
Crescendo’s 'Stepping Into Song' blends Jewish, Argentine traditions

The sounds of Argentine tango and Jewish folk traditions will collide in a rare cross-cultural performance April 25 and 26, when Berkshire’s Crescendo presents the choral program “Stepping Into Song.”

Christine Gevert, Crescendo’s founding artistic director, described the concert as “a world-class, diverse cultural experience” pairing “A Jewish Cantata” with Martin Palmeri’s “Misa a Buenos Aires.”

Keep ReadingShow less
Salisbury Rotary brings Derby race-day flair to Noble Horizons for community fundraiser
Salisbury Rotary Club President Bill Pond and his wife, Beth, dressed for the occasion during last year’s Kentucky Derby Social.
Provided

SALISBURY — As millions tune in to the Kentucky Derby at Churchill Downs on May 2, a spirited local tradition unfolds in Salisbury, where the pageantry, fashion and excitement of race day are recreated — with a community purpose.

For the past six years in the Community Room at Noble Horizons, all eyes turn to the big screen as the crowd settles in, drinks in hand and anticipation building. Women in elaborate Derby hats — bursting with oversized silk flowers, feathers and playful cutouts — mingle with men dressed for the occasion in crisp jackets and bow ties, fedoras and the occasional red rose on a lapel.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.