Sunday, January 22, 2012

How Our Members of Congress Become Rich After Taking Office

By Nicholas Contompasis

Are you mad at Congress and the President? Well, get ready to get even madder!
As you know, 60 Minutes last month exposed the likes of Nancy Pelosi and other Congressmen for their use of insider information to pad their pockets. You know that it's legal for them to trade on this information while you and Martha Stewart must go to jail for doing the same. Initially there was outrage in the country, but as usual most are more worried about feeding the family than hanging Congressmen, so far.
After reading more about how this Congressional insider trading works there seem to be two common denominators, the husband or wife and the lawyer!!!
As Steve Kroft illustrated on national TV, there has been the selling of this insider information. He failed to be more specific. We can only speculate that there's more to come once they have additional proof that Congressmen are selling Congressional information to hedge funds (George Soros, etc).
This is where it gets tricky. If you've noticed, whenever Congressmen are called out publicly about such manipulations, the spouse is mentioned. Example, Senator X has a net worth of $XXX and their spouse's net worth is $XXXXXXXX. Get my point?
It appears that many marriages in Congress are simply business arrangements to help deflect the thievery that's going on. Simply stated, the spouse takes the privileged congressional information and runs with it. First to their own account where they obtain a position and then sell it to eager hedge fund managers who drive the price up by obtaining positions in their managed portfolios.
In California Senator Feinstein and Congressman Pelosi are perfect examples of this practice with spouses worth substantially more than the elected spouse.
After watching Pelosi's act on camera, she's no Warren Buffett, yet her combined family net worth is in the hundreds of millions of dollars and Feinstein's now surpassing a billion dollars.
The last part of this trilogy of corruption are the "lawyers."  The lawyers are the communication network that transfers this information from one interested party to another. Confidentiality laws protect the lawyers and their clients so no one can be forced to testify unless someone gets a conscience.
But as usual the press and the American people are a day late and a dollar short as hedge funds and Congressmen cover up their tracks. Congress in their endless need for more cash passed the Dodd-Frank Bill that was to stop all of this or at least give authorities the authority to dig deeper into their dealings with Congress.
Unfortunately, our government knowingly left open a back door for hedge funds to be exempt from the new law.
By allowing hedge funds to form "family offices" which is just another name for hedge fund, they escape the entire mess that is Dodd-Frank.
This explains why George Soros and many other funds closed and reopened under "family offices." This little maneuver stopped any investigation into their dealings with the Congressmen, the Obama Administration, Prince al-Walled and others. Case closed!!!
Of course, the mainstream media are not looking into this. That's why it was no surprise when 60 Minutes mentioned the practice of selling privileged Congressional information, but fell short of reveling more. They must have realized they had opened a hornet nest. A hornet nest that reaches all the way to the White House and President Obama's connections with George Soros and other despots.


McBama said...

Well put, sir! The way these filthy, cheating liberals do business is sickening. I wish more of the sheep that make up the liberal consensus would actually take time to realize the socialist dogma that allows their lying candidates to steal from the people. When will America realize? The 2012 elections will tell!!

Anonymous said...

i really think ALL CONGRESSMEN (WOMEN) SHOULD NOT HOLD any other employment while serving in congress, their spouses also, and IF they are paid it should be MINIMUM WAGE FROM THEIR STATE! The spouse should remain either in home state with a minimum wage job or no job. I mean hell they get all medical coverage, housing, food, vehicles (chaperoned) and you know their offices pay their utilities! IF THEY are not in the congress seat NO PAY, NO NOTHING!~ Let me ask everyone else, if that was you no showing up for work without a doctors note???? would you get paid??? NO not unless you had vacation time or personal days, they need to get back to basics they want to balance the budget, start in CONGRESS! Cut their pay, or jobs, cut their homes, vehicles, healthcare, see how they like it! who is going to pay their mortgage? their kids college make them live like the Americans and not the Royalty they think they are ok i am done BUT! REMEMBER i am speaking about all parties not just one. We hired them we should be able to restrict and set the rules.!!!!