The Banking and Strategy Initiative

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Insider Trading: What a Pelosi!

Journalist Peter Schweizer has presumably scooped the best of the best when he does the dirty on Nancy Pelosi, accusing her of having earned from not busting Visa’s chops last year while delaying Credit Card reform regulation

The book is now available on Amazon

One of the biggest scandals in American politics is waiting to explode: the full story of the inside game in Washington shows how the permanent political class enriches itself at the expense of the rest of us. Insider trading is illegal on Wall Street, yet it is routine among members of Congress. Normal individuals cannot get in on IPOs at the asking price, but politicians do so routinely. The Obama administration has been able to funnel hundreds of millions of dollars to its supporters, ensuring yet more campaign donations. An entire class of investors now makes all of its profits based on influence and access in Washington. Peter Schweizer has doggedly researched through mountains of financial records, tracking complicated deals and stock trades back to the timing of briefings, votes on bills, and every other point of leverage for politicians in Washington. The result is a manifesto for revolution: the Permanent Political Class must go.

 

Thanks Mitch Baldwin for the hat tip (MitchBaldwin)

 

 

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This entry was posted on November 21, 2011 by in Amitonomics, Bailout Nation, Banking, TARP, US and tagged , , , , , , .

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