"Insider influence"....an accurate descriptor.

[Skidmore]

Just listening to MSNBC while doing my morning cleaning. Savannah Guthrie may have made a useful addition to the lexicon. She was talking about Congressmen and Senators who purchase large blocks of stock--most notably Boehner apparently loaded up on BP stock very recently. While the discussion was along the lines of insider trading, she said it was more like "insider influence." Forget the lobbying language. "Insider influence" works for me when it comes to anything related to Wall Street and the markets when it involves those legislating regulations and conflicts of interest.

Edited to include an article on Boehner's stock purchases. Treated as a loss in the article but remember that the purchase was before the gusher came in (did he know what BP was sitting on?) and recall that energy/climate change bill would be coming up with possibly offshore drilling as an addition. Stinky?


http://www.dispatch.com/live/content/local_news/stories/2010/06/17/copy/boehner-takes-hit-on-2009-bp-stock-buy.html?sid=101

Boehner takes hit on 2009 BP stock buy
Thursday, June 17, 2010 02:54 AM
By Jack Torry

THE COLUMBUS DISPATCH

House Minority Leader John Boehner bought shares in December, his financial-disclosure form shows.

WASHINGTON - House Minority Leader John Boehner bought as much as $50,000 of BP stock months before the massive oil leak in the Gulf of Mexico caused the oil giant's stock price to plummet by as much as 50 percent.

In financial-disclosure statements filed yesterday, the West Chester Republican said that in December, he bought tens of thousands of dollars in stock in a number of energy companies, including BP, ConocoPhillips, Chevron and Exxon-Mobil. Under congressional rules, Boehner was required to report only broad financial ranges - in this case, that he bought between $15,000 and $50,000 worth of stock.

BP's stock peaked at $62.38 a share in January, On April 20, one of its deep-water rigs ruptured. The stock closed at $31.85 a share yesterday....

[CountAllVotes]

1. just breaks my heart

:nopity: :nopity: :nopity:

:kick: & recommend.

[AndyA]

2. What do you expect from a corrupt politician like Boehner?

He makes me furious when he criticizes others, as he has NO ROOM WHATSOEVER to talk.

At one point, John Boehner handed out bribery "campaign donation" :eyes: checks ON THE HOUSE FLOOR moments before a vote on tobacco.

The "campaign donation" :eyes: checks were from...who else?...the tobacco industry.

Why Boehner wasn't investigated for this is beyond me, but actions like this are highly inappropriate.

I put nothing past Boehner, he's one of the most corrupt politicians in office right now. Where did he get all that money on a Representative's salary? How is it they all seem to leave office wealthy?

[Uncle Joe]

3. Kicked and recommended

Thanks for the thread, Skidmore.