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Posted on 05/13/2011 6:08:21 AM PDT by Outside da Box
But why does the chairman of Energy and Natural Resources own substantial stock in General Electric, Arch Coal, and oil companies like Occidental, ExxonMobil, Chevron, and Concho Resources, among others? And mining giants Freeport McMoran, and Barrick Gold?
And why does a Finance Committee member own stock in Citigroup, Wells Fargo, JP Morgan Chase, Goldman Sachs, Bank of America and many more?
And why does a member of the Health, Education, Labor and Pensions Committee own stock in pharmaceuticals like Merck, Abbott Laboratories, startup research labs and many more?
(Excerpt) Read more at washingtonexaminer.com ...
Mike
The ones with integrity put their investments in a blind trust. Obviously he isn’t one of them.
Because they are effing corrupt.
*ping*
You can trace money, stock slide under the table who knows. Cold cash has taught them all a lesson.
Because they are prudent investors. This is pushing conspiracy theories pretty far. Stocks that most investors own part of if they have index funds. Stocks that are a significant part of the American market. They would be imprudent if they did not own some of these stocks.
Wall Street Jon Corzine was the ex-head of Goldman Sachs. He spent about $165 million to buy two elective office---a NJ Senate seat and the NJ governor's seat. Return on investment rules Wall Street. The Shinesi Bank deal shows how Corzio profited from public office.
<><> Principles of Jon's so-called "blind trust" led the lucrative takeover of the troubled Japanese bank.
<><> Then-US Sen Corzine used the power of his office to approve a tax treaty providing a special exemption from Japanese taxes on investment profits.
<><> Braindead Sen Corzine said he was **not aware** of and did not **benefit** from the special provision. (Waiting for hysterical laughter to die down)
THE SHINESI DEAL UP CLOSE Nancy Martori Dunlap, Esq, is Corzio's hand-picked trustee overseeing his vast assets, including his "blind trust." Dunlap and James I. Black, Esq, execute financial decisions made by Corzine's pal----Wall Street's J. Christopher Flowers-----the man who decides where to invest Corzine's fortune--is the man who led the Shinesi Bank takeover.
Gov Corzine spent most of his time at Goldman Sachs Princeton office (opened when Corzine got elected)---just a hop, skip and a SUV ride from the Gov's office. Jon's every waking thought was how to get a "return on investment."
Jon made out like a (cough) bandit---Jersey government agencies were cleaned out----billions disappeared from Schools Construction fund. The pension fund dwindled to half its original value. UI and Transportation funds went bankrupt--wire transfers musta been going 24/7.
Jon appointed his Wall Street cronies to key govt positions---including hos G/s buddy as Secy of the Treasury. Brad Abelow was in charge of all NJ's tax assets.
THE NATION'S FINANCIAL MELTDOWN BEGINS Can you say buddy bailout, money laundering, and govt fraud? Lehman Bros went belly-up...... but not b/c Gov Jon did not try to forestall the meltdown. The Jersey Economic Development Authority gave Lehman Bros $123 Million tax dollars FOR DOING NOTHING. That's right---FOR DOING NOTHING. The EDA brainiacs unloaded $123 million tax dollars on Lehman Brothers (AND Morgan Stanley) ....……to cancel an earlier deal. The $123 Million payout was more than the total revenue generated by New Jersey realty transfer taxes (or by 13 categories of state-imposed fees) in all of 2004.
Ummm, most “prudent investors” don’t have the power to enact legislation or sit as Chairman on committees that have oversight over not only the agencies that regulate these industries but the in the case of energy companies the very lands that operate on.
To not recognize the differences between an average investor and the position a U.S. Senator is in in like saying there is no difference between an average person betting on a basketball game and the coach of one the teams betting on the game.
Not conspiracy theories, it is called conflict of interest.
Most people in his position do the smart thing and either invest in mutual funds, cd’s, or have a blind trust.
Senator:(in a deep baritone voice. Think the late Sen Howell Heflin D-AL) “Son, I say Son, I ran because of a deep burning desire to help my fellow citizens. And Son because my voice was so needed, I stayed here fighting the good fight for thirty years all for the poor, I say the poor folks and the downtrodden. That's why I ran for office in the first place, Son”.
Translation: Washington District of Corruption is the easiest and best place in the world to get rich without working or investing. Them folks doing business with the government just pile the cash on you. And they show you how to hide it. Is this a great country or what?
Aren’t they required to put those assets in a blind trust?
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