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Crony Capitalism

New book by Peter Schweizer: "Throw them all out"
exposing the ways members of congress enrich themsleves.

Peter Schweizer's New Book Blasts Congressional Corruption - The Daily Beast

Quote:

In the Spring of 2010, a bespectacled, middle-aged policy wonk named Peter Schweizer fired up his laptop and began a months-long odyssey into a forbidding maze of public databases, hunting for the financial secrets of Washington’s most powerful politicians. Schweizer had been struck by the fact that members of Congress are free to buy and sell stocks in companies whose fate can be profoundly influenced, or even determined, by Washington policy, and he wondered, do these ultimate insiders act on what they know? Yes, Schweizer found, they certainly seem to. Schweizer’s research revealed that some of Congress’s most prominent members are in a position to routinely engage in what amounts to a legal form of insider trading, profiting from investment activity that, he says, “would send the rest of us to prison.”

Breitbart is all over this story has 7 stories on this:- Big Government

One of the stories call on (R) S Bachus to resign,

Quote:

Andrew Breitbart calls for Rep. Spencer Bachus (R-AL) to resign from Congress in light of revelations that the Chair of the House Financial Services Committee personally profited by shorting financial stocks after being briefed on the impending financial crisis in 2008. The revelations were made public in Breitbart editor Peter Schweizer's new book, "Throw Them All Out," and was broadcast on CBS News' 60 Minutes this evening.

Pelosi get access to VISA IPO after blocking legislation that would hurt Credit Card companies. Makes millions as documented by 60 Minutes (which I didn't see getting ready for Pats gme...)

Re: Crony Capitalism

Should not be able to buy stocks when you or your spouse is in congress....period!!! If you have them before you run for congress you should have to sell them in order to gain office.....period!!!

Pats13 we don't agree on a lot but i'm with you a 100% on this:rocker:

Re: Crony Capitalism

IMO congresspersons should have to abide to insider trading rules.

Re: Crony Capitalism

Really glad that the right is starting to understand ethics violations, so when it is requested that Clarence Thomas recuse himself from the upcoming Health Care Court case..

Recognizing ethics violations is a good beginning.. betcha the "grand inquisitor" Issa is dirty as mud..
Boehner will probably be right up there as well..

Re: Crony Capitalism

Quote:

Originally Posted by DarrylS (Post 2794291)

We anxiously await the Kagan recursal and the left damning N Pelosi and J Kerry for their behavior.

Thomas wife doesn't have anything to do with his role as a judge and she isn't an employee of a pharm, ins or healthcare co.

Re: Crony Capitalism

Quote:

Originally Posted by patsfan13 (Post 2794372)

Thomas wife doesn't have anything to do with his role as a judge and she isn't an employee of a pharm, ins or healthcare co.

No, she was just the president and CEO of a Liberty Central which has been actively fighting the new law. She also received over $150,000 in salary from that group and another $15,000 from an anti-health care lobby firm which she, herself, started.

So, you're right. She wasn't an employee of an individual pharm, ins or healthcare company. Oh, hell no, she represented all of them.

Daily Kos: Clarence Thomas's conflict of interest on Affordable Care Act

Re: Crony Capitalism

PF13 starts a thread that I thought was pretty bi-partisan in nature. Something that I see many challenging him to do. The response? More partisanship. Awesome.

Re: Crony Capitalism

Quote:

Originally Posted by The Brandon Five (Post 2794466)

PF13 starts a thread that I thought was pretty bi-partisan in nature. Something that I see many challenging him to do. The response? More partisanship. Awesome.

It took several hours, though. :)

Re: Crony Capitalism

BTW Boehner is involved in this sort of activity.

Re: Crony Capitalism

Quote:

Originally Posted by The Brandon Five (Post 2794466)

PF13 starts a thread that I thought was pretty bi-partisan in nature. Something that I see many challenging him to do. The response? More partisanship. Awesome.

Some people are partisan and don't have standards of right and wrong that apply to anyone other than their political opponents.

Of course this sort of thing points out a major problem with Big Government. The power to control companies through issuing government $$$, having regulatory authority, and controlling taxes is corrupting because the people with the power can use that power to enrich themselves at the cost of freedom of the citizens.

This is a reason why government should have far less power and spend far fewer of the taxpayers $$$$. A flat tax and eliminating a number of government agencies would be a good start.