Cronyism US politics

CRONY CAPITALISM WATCH: DEMOCRAT SENATOR JOHN KERRY’S CURIOUSLY TIMED STOCK TRADES……..

BUSTED!

BigGovernment.com has obtained records of Massachusetts Democrat Senator John Kerry and his wife Teresa Heinz’s stock portfolios that show almost perfectly timed pharmaceutical stock trades during the Obamacare debate, which fattened their already enormous personal fortune.

The documents further support allegations of suspicious trading leveled during Sunday’s 60 Minutes report about the explosive new book by investigative reporter and Breitbart News editor Peter Schweizer, Throw Them All Out.

Sen. John Kerry’s position on the powerful Senate Finance Committee’s Health Subcommittee gives him direct access to critical information regarding health care policy. In July 2009, pharmaceutical industry representatives met with key members of Congress to flesh out the Obamacare bill. Then, in November 2009, with the bill’s passage was looking more likely, the Kerrys’ portfolios reflect a drug stock buying spree.

First, $750,000 worth of stock in drug maker Teva Pharmaceuticals was added to their portfolios at around $50 a share. Once Obamacare passed, the value of the stock rose to $62 per share. Subsequently, in 2010, a portion of Teva holdings was dumped from the Kerry portfolio, resulting in tens of thousands of dollars in capital gains (exact profits are unclear because politicians are only required to report ranges, not exact dollar amounts).

READ IT ALL HERE. DEVASTATING!

2 Responses

  1. Hate to say it, but some of the Repubs have done it, too. (Bachus-R AL)

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