Skip to comments.Prosecutors subpoena Congress in trading probe
Posted on 06/18/2014 5:10:20 PM PDT by Oldeconomybuyer
WASHINGTON Prosecutors are gathering evidence for a grand-jury probe into whether congressional staff helped tip Wall Street traders to a change in health-care policy, an indication the long-running investigation has entered a more serious phase.
Public documents show federal law-enforcement officials and the Securities and Exchange Commission are seeking records and other evidence from the House Ways and Means Committee and a top congressional health-care aide, Brian Sutter, staff director of the Ways and Means Committees health-care subpanel.
The probe was sparked by a 2013 Wall Street Journal report that detailed how health-insurance stocks jumped moments before the government announced news favorable to those companies relating to Medicare payments.
The stock surge was prompted by an email sent by a Washington-based policy-research firm that predicted the change for its Wall Street clients. That alert, in turn, was based in part on information provided to the firm by a former congressional health-care aide turned lobbyist, according to emails reviewed by the Journal.
The activity surrounding the federal grand jury wasnt previously known and signals that prosecutors havent given up on the matter.
(Excerpt) Read more at marketwatch.com ...
I’m wondering if this is related to one of Obama’s unilateral rule changes.
ALL the Republicans that are DARING to question the DICTATOR on Benghazi and the IRS scandal will be HAULED BEFORE the Admin!!!!
Brian Sutter, a Midland High School graduate, has been appointed by U.S. Rep. Dave Camp, R-Midland, to serve as staff director of the Committee of Ways and Means Health Subcommittee.
This looks like a nice framing job of a presumably Republican aide that will be hard to get out of.
While the REAL menace sits in the White House orchestrating an illegal arms exchange underneath the Benghazi scandal, and Iraq burns, the IRS is turned into hit men against conservative speech, etc., etc., but lets not “enter a much more serious phase” on those investigations.
Thank you for that info. I know Midland fairly well, or used to.
Sounds like typical DC criminality to me.
Sometimes they win...sometimes they lose.
Happens constantly during earnings season for example.
This is the Obummer administration trying to take divert attention from the Bengazzi and IRS scandals.
Lock ‘em all up and throw away the keys.
This tactic is BAD NEWS for Lois Lerner and her crooked IRS obamite staff.
I’m sure this will all go away if they just tell the nice investigators that the hard disk crashed and all the e-mails are gone.