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...when the U.S. Supreme Court ruled that that a director of the Philippine Sugar Estates Development Company committed fraud when he bought stock in his company without sharing information with the seller that soon boosted its value. But it wasn't until after the 1929 stock-market crash that Congress passed laws to limit such trading (although it didn't move to ban it outright) and created the Securities and Exchange Commission to enhance market oversight. As the stock market expanded in the 1960s, the SEC grew more aggressive in fighting insider trading, relying on a general prohibition against securities...

Author: /time Magazine | Title: Insider Trading | 11/9/2009 | See Source »

...Reserve Board staffer who is a former lobbyist a "K Street whore" and calling Republicans "foot-dragging, knuckle-dragging Neanderthals" on CNN. The liberal online hub the Huffington Post linked to the caveman remark, and more than 1,500 people wrote comments. "We need about 100 more Graysons in Congress," read one. Grayson later apologized to the Fed aide but repeatedly refused to apologize to the GOP. (You can watch those videos on YouTube...

Author: /time Magazine | Title: Welcome to the Fun House | 11/9/2009 | See Source »

Civility is so 20th century. In today's Congress, the propriety of a gentleman and $5 will get you lots of committee work and a ham sandwich. Embrace the new media landscape, however, and you can break out in the national media fun house as an Internet and cable-news populist. Fame and campaign cash await...

Author: /time Magazine | Title: Welcome to the Fun House | 11/9/2009 | See Source »

...YouTube. Tapping into the partisan fervor surrounding health-care reform, Grayson and Bachmann have built national profiles and become the darlings of their respective ideological camps. And though they represent polar political extremes, they have followed a similar three-step formula for making a name in the 111th Congress...

Author: /time Magazine | Title: Welcome to the Fun House | 11/9/2009 | See Source »

...have gotten this far, you have already made it as a new media populist. Grayson now gets invited on HBO's Real Time with Bill Maher. Bachmann is bombarded with booking requests, which she grants with some regularity. "Frankly, Congresswoman Bachmann is in Congress to serve the people, not the media," says her spokeswoman, Debbee Keller. But Bachmann hardly lets that stop...

Author: /time Magazine | Title: Welcome to the Fun House | 11/9/2009 | See Source »

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