Newt Gingrich Says Insider Trading Scandal

When Newt Gingrich stepped down as Speaker of the House and resigned from Congress amid an ethics scandal over a book deal and revelations that he was once again dumping a wife because of an affair with a younger woman, Republicans on Capitol Hill breathed a sign of relief.


Gingrich may have left elected office but he did not disappear into the shadows as so many in the GOP hoped.


“Newt Gingrich is a political vampire,” one former aide tells Capitol Hill Blue. “It would take a wooden stake to kill his ego, his ambition and his bloodlust for power.”


Even as his Presidential campaigns plummets into the depths of also-rans, Republicans once again shake their heads and wonder what it will take to rid their party of the cancer called Newt Gingrich.


Mr. Gingrich said it is wrong for lawmakers to be able to buy and sell stocks based on information they learn in their government jobs. He laid part of the blame on campaign finance rules that favor wealthier candidates for Congress who can afford to pay for their own elections. As a result of those rules, a larger share of lawmakers in both parties come to Congress with extensive financial portfolios.
Mr. Gingrich’s recent statements echo those he made in November when he declared his support for applying the same insider trading laws that apply to private citizens to members of Congress.
Mr. Gingrich’s comments Wednesday in South Carolina come on the heels of an op-ed published last week by Gov. Rick Perry declaring his intention to “stop insider trading dead in its tracks.” And last Thursday, Gov. Mitt Romney sharpened his attack on “crony capitalism.”
Some political analysts have suggested that the congressional insider trading issue represents a prime opportunity to coalesce Tea Party support around a unifying message against crony capitalism. Gauging from the GOP presidential candidates’ comments on the issue heading into the all-important South Carolina primary, they appear to agree.