Media as Watchdog of Government officials

In this video from 60 Minutes on CBS it looks at how many government officials are able to leave office accumulating more wealth than when they entered, especially those that take a pay cut being in office. This story points our that when it comes to Wall Street and the illegal insider trading laws according to day traders and other people that make a living through the stock market, don’t apply to government officials. This means that any information not made for the trading public that is obtained by someone and influences trading practices is seen as illegal. According to this report, many people in Government can obtain this non public information and use it to their benefit. I believe this is a classic example of the media playing the watchdog role towards people in government. Its important to note that even if these politicians are using this information, it actually isn’t against the law according to how the laws are written. But, it still has the fundamental characteristics of showing how the media can still act as a watchdog towards issues that are based more on public opinion and morals. Just because the government doesn’t consider something illegal doesn’t mean the media doesn’t have the right to let the public know of the certain actions to determine whether or not it is something that will open eyes and spark action to eventually be taken.

http://www.cbsnews.com/video/watch/?id=7388130n&mwh=1

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