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2016 Postmortem
In reply to the discussion: Mother Jones: Lewis remark "undoubtedly true," Bernie's civil rights activism "brief and localized" [View all]catnhatnh
(8,976 posts)108. Hillary 78-79'
In 1978 and 1979, lawyer and First Lady of Arkansas Hillary Rodham engaged in a series of trades of cattle futures contracts. Her initial $1,000 investment had generated nearly $100,000 when she stopped trading after ten months. In 1994, after Hillary Rodham Clinton had become First Lady of the United States, the trading became the subject of considerable controversy regarding the likelihood of such a spectacular rate of return, possible conflict of interest, and allegations of disguised bribery, allegations that Clinton strongly denied. There were no official investigations of the trading and Clinton was never charged with any wrongdoing.
$14,600 IRS tax and penalty :
Hillary later wrote that she educated herself about the market and followed it closely, winning and losing money. By January 1979, she was up $26,000; but later, she would lose $16,000 in a single trade. At one point she owed in excess of $100,000 to Refco as part of covering losses, but no margin calls were made by Refco against her. Near the end of the trading, Blair correctly sold short and gave her a $40,000 gain in one afternoon. In July 1979, once she became pregnant with Chelsea Clinton, "I lost my nerve for gambling walked away from the table $100,000 ahead." She briefly traded sugar futures contracts and other non-cattle commodities in October 1979, but more conservatively, through Stephens Inc. During this period she made about $6,500 in gains (which she failed to pay taxes on at the time, consequently later paying some $14,600 in federal and state tax penalties in the 1990s). Once her daughter was born in February 1980, she moved all her commodities gains into U.S. Treasury Bonds.
As it happened, during the period of Rodham's trading, Refco was under investigation by the Mercantile Exchange for systematic violations of its margin trading rules and reporting requirements regarding cattle trading. In December 1979, the exchange issued a three-year suspension to Bone and a $250,000 fine of Refco (at the time, the largest such penalty imposed by the exchange).
These results are quite remarkable. Two-thirds of her trades showed a profit by the end of the day she made them and 80 percent were ultimately profitable. Many of her trades took place at or near the best prices of the day.
Only four explanations can account for these remarkable results. Blair may have been an exceptionally good trader. Hillary Clinton may have been exceptionally lucky. Blair may have been front-running other orders. Or Blair may have arranged to have a broker fraudulently assign trades to benefit Clinton's account.
In a Fall 1994 paper for the Journal of Economics and Finance, economists from the University of North Florida and Auburn University investigated the odds of gaining a hundred-fold return in the cattle futures market during the period in question. Using a model that was stated to give the hypothetical investor the benefit of the doubt, they concluded that the odds of such a return happening were at best 1 in 31 trillion.
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Mother Jones: Lewis remark "undoubtedly true," Bernie's civil rights activism "brief and localized" [View all]
ucrdem
Feb 2016
OP
And where did Lewis see Hillary again? I don't think he did see her .. unless..
99th_Monkey
Feb 2016
#3
She was 17 at that time, at 21 she worked on Rockefeller's presidential campaign it was after
Autumn
Feb 2016
#82
That proves just the opposite of what you want. She met him, and THEN supported Goldwater in 1964.
JonLeibowitz
Feb 2016
#30
"Goldwater girl" is not a point, it's a meme. In any case it's not the issue here. nt
ucrdem
Feb 2016
#42
It's a corner you walked yourself into. Too bad you couldn't find your way out. n/t
JonLeibowitz
Feb 2016
#45
Yet in 1968 after Eugene McCarthy she was invited to help Republican Governor Nelson Rockefeller's
Autumn
Feb 2016
#64
One wonders why she worked for a clear racist (Goldwater), then left the party over "veiled" racism.
JonLeibowitz
Feb 2016
#86
Unlike that account she never mentioned meeting MLK in her remarks at the First Baptist Church
Autumn
Feb 2016
#69
According to Snopes: Bernie marched in 1963, Hillary was a Goldwater Girl in 1964.
99th_Monkey
Feb 2016
#16
So that subsequently inspired her heavily to become a Republican leader and support Goldwater..
cascadiance
Feb 2016
#55
She worked for the McGovern Campaign. She registered poor Latinos to vote in Texas.
SunSeeker
Feb 2016
#52
Yup, only on Red State and DU is Bill beating a Creationist nut bag described as a bad thing.
SunSeeker
Feb 2016
#107
When she was old enough to vote *today* and serve in Vietnam if she were male...
cascadiance
Feb 2016
#59
Good lord, are we done yet with this? Meanwhile, Hillary was a Goldwater Girl. Where is all the
libdem4life
Feb 2016
#4
Went right over your head, seems. The subject in my post was two young people and where
libdem4life
Feb 2016
#11
In a word, No. No more than I'm holding HRCs Republican years against her.
libdem4life
Feb 2016
#115
Sort of like Hillary's brief stint as a Republican? The same time frame Bernie
Katashi_itto
Feb 2016
#9
She was still was a Republican and gosh she met Lewis too thats a cool story bro.
Katashi_itto
Feb 2016
#18
"In 1962, Don Jones, the youth minister at Hillary's church took Hillary and her class to hear a spe
ucrdem
Feb 2016
#20
She did. She also met the speaker who happened to be MLK. Not observed, met, in 1962. nt
ucrdem
Feb 2016
#23
Looks like she learned zip from the meeting except how to politically capitalize on it.
Katashi_itto
Feb 2016
#25
"disputed selfies"? Wut? Do you even know what a selfie is? And it isn't disputed, anyway.
JonLeibowitz
Feb 2016
#33
Who's disputing confirmed pictures to try and discredit another's civil right's cred?
Lordquinton
Feb 2016
#88
Too young for MLK to have made an impression not to support Goldwater too, I see.
JonLeibowitz
Feb 2016
#51
She was in HS. Her father was Republican. At Wellesley she campaigned for Eugene McCarthy. nt
ucrdem
Feb 2016
#56
Too bad MLK and the struggle for equal rights didn't make a significant impression on her.
JonLeibowitz
Feb 2016
#61
She was President of the College Young Republicans in 1965 at Wellesley .
Hassin Bin Sober
Feb 2016
#65
She attended the 1968 Republican National Convention in Miami when she worked on
Autumn
Feb 2016
#76
Yes! YESSS please continue to minimize the work that a great man did for PoC!
retrowire
Feb 2016
#43
It's great that he got involved in college. But that was over half a century ago. nt
ucrdem
Feb 2016
#78
So 2 years. In the life of someone in his early twenties, that's a substantial commitment
cali
Feb 2016
#99
To hear his fans describe it, one could easily come away with the impression ...
NurseJackie
Feb 2016
#106