Topic: Wall Street Insider

A report from a "Wall Street Insider" suggests that media outlets manipulate election polls to drive advertising revenue from Super PACs. The sudden tightening of the race between Obama and Romney is viewed as a strategy to keep campaign donations flowing. Additionally, the segment discusses the artificial manipulation of oil and gas prices as a political tool during the election cycle.

Actor Michael Douglas filmed a public service announcement for the FBI regarding securities fraud and insider trading, reprising his Gordon Gekko persona. Meanwhile, local television stations like KSPW are running "house ads" for their own programming due to a lack of commercial advertisers. This trend is cited as evidence of the "death of broadcasting" as traditional revenue models fail.

Congresswoman Louise Slaughter discusses the Stock Act, intended to stop insider trading by members of Congress and their staffs. She reveals that a former chief of staff for Tom DeLay was caught day trading on government computers during work hours.

Research from the Wall Street Journal and CNBC reveals that members of Congress and their staffers frequently profit from stock trades based on non-public legislative information. The discussion emphasizes that such trading is currently legal for lawmakers, as they are not technically corporate insiders.

The behavior of the ultra-wealthy is characterized as a "psychosis" where individuals become disconnected from the general public and focused on protecting their assets from perceived scams. This mentality extends to members of Congress, who reportedly achieve investment returns 12% higher than the market average due to insider knowledge. The segment also notes the trend of former government officials, like Michael Chertoff, moving into private security firms to profit from policies they helped implement.

The discussion focuses on the Galleon Group insider trading case involving Raj Rajaratnam. The hosts argue the $22 million scandal is a "rounding error" designed to distract the public from larger financial misconduct at Goldman Sachs and JP Morgan Chase. They criticize The Wall Street Journal for using simplified, comic-book-style illustrations to explain the mechanics of the fraud.