John Kerry's Curious Stock Trades - New England Patriots Forums

***patsfan13*** · 11-19-2011, 12:56 PM

» EXCLUSIVE DOCUMENTS: The Kerrys’ Curious Stock Trades - Big Government

Sp the guy who doesn't wants to pay taxes on his yacht and advocates taxes for small business, benefits big time from insider trading with a series of brilliant trades in a sector where he is chairman of a committee.

Quote:

First, $750,000 worth of stock in drug maker Teva Pharmaceuticals was added to their portfolios at around $50 a share. Once Obamacare passed, the value of the stock rose to $62 per share. Subsequently, in 2010, a portion of Teva holdings was dumped from the Kerry portfolio, resulting in tens of thousands of dollars in capital gains (exact profits are unclear because politicians are only required to report ranges, not exact dollar amounts).
Next, at least $200,000 of stock in medical device manufacturer ResMed was purchased in the $20 to $25 per share range.

So the regulators use their position to trade stocks in companies impacted by the regulations they put in place. It will be fun to se who benefited from the Dodd-Frank. This is why the power of the government to regulate and try to control the economy should be limited.

At least some of these crooks are starting to get embarrassed by the situation:

Senators propose rules stopping insider trading by Congress members - The Hill's On The Money

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A bipartisan group of eight senators introduced a bill Friday that would prohibit lawmakers from using information gleaned during their congressional work for financial gain.

The lawmakers are urging passage of a measure that redefines insider trading to include knowledge gained from congressional work. It would also require “political intelligence consultants” to register as lobbyists.

Better late than never.

***Patters*** · 11-19-2011, 01:07 PM

This is almost certainly something we all agree on. The left and Tea Party activists are united here. Someone ought to investigate what the rules are at the state level, as well.

***patsfan13*** · 11-19-2011, 01:14 PM

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Originally Posted by Patters

This is almost certainly something we all agree on. The left and Tea Party activists are united here. Someone ought to investigate what the rules are at the state level, as well.

Agree about corruption at the state level although they cn't influence the profits on national and multinational companies they way people at the federal level. BTW these laws should also apply to people in the administrations and the staffers also.

Feinstein who is worth 70M also is corrupt:

Quote:

Throw Them All Out, a novel by investigative reporter Peter Schweizer, hit stores Tuesday and claims that Feinstein used pending legislative information to conduct a million dollar investment. Schweizer claims that on November 18th, 2009, Feinstein and her husband invested $1 million into Amyris Biotechnologies, a green biotechnology company that produces plant based renewable fuels.

As biggovernment.com reports, several weeks after Feinstein’s investment, Amyris received a $24 million grant from the Department of Energy, and went public the following year, earning a reported $85 million.

According to Schweizer’s book, Feinstein’s million dollar investment in Amyris was her only stock purchase of the entire year in 2009, further implicating that she used her knowledge of the upcoming government grant to make a timely investment in the biotech company.

Read more: Dianne Feinstein and congressional insider trading | The State Column

I wouldn't call the book a novel myself.....More examples of why the feds shouldn't be funding private enterprise.

BTW as examples come up of corrupt pubs using their power to enrich themselves please post here to expose the crooks.

***DarrylS*** · 11-19-2011, 01:33 PM

FYI our Senator, Sheldon Whitehouse, was named initially.. but since then there has been a retraction.

Without regard, using sites that rely on Big Government is a poor way or displaying an argument, there is enough information out there.. without relying on Breitbart et al.

sdaniels7114 · 11-19-2011, 03:58 PM

Opportunity aside, what's his motive to commit this crime? (assuming he has done so) He's already vastly wealthy from marrying Teresa Heinz.

***patsfan13*** · 11-19-2011, 04:40 PM

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Originally Posted by sdaniels7114

Opportunity aside, what's his motive to commit this crime? (assuming he has done so) He's already vastly wealthy from marrying Teresa Heinz.

It isn't a crime currently insider trading by politicians for their own personal gain is allowed.

They are greedy?

scout · 11-19-2011, 04:49 PM

Quote:

Originally Posted by patsfan13

It isn't a crime currently insider trading by politicians for their own personal gain is allowed.

They are greedy?

Bud Fox: How much is enough?
Gordon Gekko: It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.

The only problem I have is with your desire to paint one party as the culprit. Yes or No, George Bush was involved with insider trading? This was before his presidency in which he was found innocent by a court of law.

***patsfan13*** · 11-19-2011, 05:28 PM

Quote:

Originally Posted by scout

Bud Fox: How much is enough?
Gordon Gekko: It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.

The only problem I have is with your desire to paint one party as the culprit. Yes or No, George Bush was involved with insider trading? This was before his presidency in which he was found innocent by a court of law.

The MSM is mostly ignoring the story, the LW blogsphere is making excuses for the perps (see the HuffPo piece). In the first post on the book I linked to Bretibart's demand that pub Bachus (r-AL) resign. As I said if there are other examples of pubs doing this please bring them forward.

***Patters*** · 11-19-2011, 06:09 PM

Quote:

Originally Posted by patsfan13

Agree about corruption at the state level although they cn't influence the profits on national and multinational companies they way people at the federal level. BTW these laws should also apply to people in the administrations and the staffers also.

PF, Senators and Congresspeople will always have access to advantageous information they can use for their own enrichment. Foreign trade, WTO negotiations, interstate commerce issues, military investments, infrastructure investments, and so on would give them advantages in even a small government libertarian scenario. In fact, there is a contingent in libertarian circles that absolutely favors insider trading. In that case, why should politicians be singled out? But, I'm with you, and believe that we should do what can to stop insider trading because it corrupts people's motivations and the integrity of our political and economic system.

scout · 11-19-2011, 09:07 PM

Quote:

Originally Posted by patsfan13

The MSM is mostly ignoring the story, the LW blogsphere is making excuses for the perps (see the HuffPo piece). In the first post on the book I linked to Bretibart's demand that pub Bachus (r-AL) resign. As I said if there are other examples of pubs doing this please bring them forward.

WOW! You totally ignored my question. I know that does not surprise others on this board. Your in denail that the Republican party does not inside trade, because I offer no evidence. Quite honestly, if I were to provide a link as proof you would dismiss it. I have better things to do then try to find dishonesty on the "other" political party. If you want to believe that it's a good party-bad party system, then good luck with your life. Here is my softball question: Did George Bush use his knowledge (inside trading) to profit from his company? Yes he was found innocent, as was OJ.