Posted on 11/25/2011 4:06:46 AM PST by MontaniSemperLiberi
Three years ago, then-House Speaker Nancy Pelosi and her husband, Paul, made Hillary Rodham Clinton’s success with cattle futures look like a child’s lemonade stand. The credit card giant Visa was holding an initial public offering, among the most lucrative ever seen. The Pelosis were granted early access to the IPO as “special customers” who received their shares at the opening price, $44. The lucky investors turned in a 50 percent profit in just two days.
Starting on March 18, the speaker and her husband made the first of three Visa stock buys, totaling between $1 million and $5 million. “Mere mortals would have to wait until March 19, when the stock would be publicly traded, to get their shares,” writes Peter Schweizer of the Hoover Institution in his new book. On the surface, it appeared to be quite a gamble. Mr. Schweizer reports that the investment represented at least 10 percent of the Pelosis’ stock portfolio and perhaps as much as half of their equity holdings.
....
“Isn’t crony capitalism beautiful?” Mr. Schweizer asks as he finishes recounting this tale in “Throw Them All Out.” The book actually paints a very ugly picture of legislators enriching themselves through earmarks and unpunished insider trading, politically connected companies being shoveled billions of dollars in stimulus funds and public money intended to help the environment, plus all manner of kickbacks and favors.
(Excerpt) Read more at washingtontimes.com ...
At least the shovel ready projects worked - for congresscritters.
What was Martha Stewart convicted again?
Yes BUT, it is not illegal for congress thiefs to use insider trading.
They exemptd themselves from that little law.
Any wonder so many thieves and criminals strive to become congress men or ladies?
And when you leave Congress, you can make millions selling your influence and connections.
Just ask Newt.
Nancy gets Union money for her campaigns.
She doesn’t hire Union people for her vineyards or her hotels.
Nancy asses a minimum wage
but her Tuna workers do not get it.
Nancy screams that the rich do not pay enough taxes,does she donate to pay more of her rich’s
Nancy screams for Obamacare
but Congress doesn’t have to be in Obamacare
Neither do Muslims.
Nancy is the biggest hypocrit chunk of vomit to ever sit on Capitol Hill, but she is sitting there with so many other pukes it is hard to notice her,until she opens her botoxed mouth and takes the chance of cracking her two faces.
She was convicted of lying to the FBI about insider trading, not the trading itself.
Kinda like Scooter Libby for lying to the special prosecutor. At the very least, of his story not matching those of Tim Russert and Judith Miller. Not that there was any veracity to their “journalistic accounts” it was just his did not match theirs so he was convicted of lying.
The sorry thing is that the prosecutor knew all along before he even started the investigation who the leaker was. Richard Armitage, Asst Secretary of State to Colin Powell who when Armitage told him, Powell instructed him to not say a word to anyone. The whole thing was a needless waste of time and money which resulted in destroying the life of someone who had no connection to the whole affair.
When did it become legal for members of Congress to do this??
What “Law” did they sneak this into?
They have to pass a law making this illegal and retroactive so they all go to jail. Then the people may some faith in the system. Otherwise we’re no better than a banana republic.Anyone still in the stock market is a fool!
If Scooter had simply adopted Hillary’s “I don’t recall” answer to every question, he’d have walked.
Thats what everybody keeps saying, personally I do not believe them. Seems to me the best way to test the theory that Congress Critters are “Exempt” would be to ARREST AND PROSECUTE THEM, Seize their assets and let them go through the Judicial System in front of a Jury, just like everybody else. They can ROT IN PRISON, just like everybody else while they wait 10 or so years to go through the entire LEGAL PROCESS, just like everybody else. The problem lies in: Who will arrest and prosecute them?? This Permeates all levels of GOVERNMENT in every city in America. HE should have called the book:: HANG THEM ALL.
Shovel ready is right!
They dug an even deeper hole to bury the American Taxpayers and private investors.
Congress and senate call the Mafia the bad guys.Makes one wonder how many of them have ties to the drug cartels?.
When are they actually going to arrest one of these crooks?
This is stealing, pure and simple! When someone gains in a trade, someone on the other side of the trade loses. How can they exempt themselves from the law that covers the reast of us?
Is Congress the new American Royalty?
I doubt this. They will get together and snicker about the latest fast ones they've pulled off on the sheeple.
They're not called dukes, or earls, or counts, but they act just the same way.
Congress has become royalty by just another name.
I hope everyone reads this book. It is not only democrats and it's not only insider trading.
They certainly think they are! Vote them out and then aggressively prosecute them, none of this b.s. namby-pamby Ethics Committee hearing and censure.
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