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It seems the SEC "stood down" repeatedly for those in the Bush Family Circle. [View All]

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seafan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-23-09 10:08 PM
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It seems the SEC "stood down" repeatedly for those in the Bush Family Circle.
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Remember former SEC attorney Gary Aguirre's testimony that an insider trading investigation was squelched?, from 2007
In a December (2006) hearing of the Judiciary Committee, just before Congress changed hands, Grassley and the panel's then-chairman, Specter, uncovered further evidence of Justice Department collusion in efforts to thwart congressional inquiry and intimidate whistleblowers. This involved the unheard-of step of subpoenaing confidential discussions between a whistleblower and congressional staff.
That hearing focused on charges, by former Securities and Exchange Commission attorney Gary Aguirre, that an investigation into insider trading by one of the largest hedge funds was squelched by SEC officials. Aguirre had wanted to take testimony from a prominent Wall Street figure, who was also a major fundraiser for President Bush. When he pressed the point, he was not only prevented from doing so -- he was fired.

Jeb Bush's former business partner Armando Codina takes $255 Million from FEC stock sale in buyout., from 2007
In another example, Tuesdays purchase of Florida East Coast Industries, a railway and real estate company, by Fortress Investment Group, was preceded by soaring options trading almost a week earlier. As many as 16,747 options contracts on Florida East Coast were traded last Wednesday alone almost 27 times the average daily trading volume for April of just 623 contracts.

Trading in options to buy shares of Florida East Coast Industries Inc. surged to the most ever last week before the railroad operator said it will be acquired by private equity firm Fortress Investment Group LLC.

Let's not forget, Jeb Bush joined Lehman in 2007:

Did the SEC overlook Lehman insider trading?, February 23, 2009

Regulator Faces Fresh Scrutiny Over Trading Inquiry at Lehman, February 22, 2009

Kucinich on Stanford Group Fraud: Who Told SEC to "Stand Down?", February 21, 2009

The signs all point back to revelations such as this one:

May 5, 2006: "Intelligence Czar Negroponte Can Waive SEC Rules"

President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.

Unbeknownst to almost all of Washington and the financial world, Bush and every other President since Jimmy Carter have had the authority to exempt companies working on certain top-secret defense projects from portions of the 1934 Securities Exchange Act. Administration officials told BusinessWeek that they believe this is the first time a President has ever delegated the authority to someone outside the Oval Office. It couldn't be immediately determined whether any company has received a waiver under this provision. .....

Now, who is in charge of these criminal investigations?

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