Tag Archives: SEC

Rep. Cam’s Dad (R-Swamp)

From CNBC:

Rep. Chris Collins‘ son and his son’s fiancee bought shares of an Australian biotech company just days before dumping the shares after the New York Republican allegedly tipped his son off about a failed clinical drug trial in a phone call from the White House lawn, the Securities and Exchange Commission said in a complaint.

Collins’ son, Cameron Collins, and the son’s accountant fiancee, Lauren Zarsky, had purchased the stock of Innate Immunotherapeutics in June 2017 because they believed — mistakenly, it turned out — that the trial of the company’s multiple sclerosis treatment would yield positive results, the SEC said in its complaint.

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Filed under Congress, House Energy and Commerce Committee, humor, movies, parody, politics, satire, snark, Wordpress Political Blogs

If you shake hands with Wilbur, count your fingers afterwards

From Forbes:

A multimillion-dollar lawsuit has been quietly making its way through the New York State court system over the last three years, pitting a private equity manager named David Storper against his former boss: Secretary of Commerce Wilbur Ross. The pair worked side by side for more than a decade, eventually at the firm, WL Ross & Co.—where, Storper later alleged, Ross stole his interests in a private equity fund, transferred them to himself, then tried to cover it up with bogus paperwork. Two weeks ago, just before the start of a trial with $4 million on the line, Ross and Storper agreed to a confidential settlement, whose existence has never been reported and whose terms remain secret.

It is difficult to imagine the possibility that a man like Ross, who Forbes estimates is worth some $700 million, might steal a few million from one of his business partners. Unless you have heard enough stories about Ross. Two former WL Ross colleagues remember the commerce secretary taking handfuls of Sweet’N Low packets from a nearby restaurant, so he didn’t have to go out and buy some for himself.

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Filed under China, Corruption, Democrats, humor, parody, politics, Republicans, Russia, satire, snark, television, Vladimir Putin

Just Put Your Lips Together and Blow

From THINK PROGRESS ECONOMY:

A new Stop Snitchin campaign to deter would-be informants, in this case against people speaking up against crimes on Wall Street, is quietly taking shape, this time far from the media’s eye.

Financial experts and academics agree that strong whistleblower regulations could have prevented the Bernie Madoff Ponzi scheme and indeed much of the financial crisis if employees at firms engaged in fraudulent activity had spoken up early or had reported complex crimes to the appropriate authorities. Employees at firms at the center for the financial crisis, including troubled lender Countrywide, have cited intimidation and other illicit tactics as the reason few people spoke up as whistleblowers. Since the old whistleblower laws provided for weak legal protections for informants and relatively rare rewards, the Dodd-Frank financial reform law passed last year revamped the system with new rights for informants blowing the whistle on financial crimes.

Bank lobbyists and Fox News, however, have made such protections enemy number one.

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Filed under Barack Obama, Congress, Fox News, humor, movies, parody, politics, Republicans, snark, Wordpress Political Blogs

Darrell-iction of Duty

From THINK PROGRESS:

On Thursday, the New York Times responded to a demand for a retraction from Oversight Chairman Rep. Darrell Issa’s (R-CA) office regarding a major piece published two weeks ago about Issa’s many conflicts of interest between his congressional work and his vast financial holdings. In the letter, Dean Baquet, the assistant editor of the paper, debunked claims of factual inaccuracies listed by Issa spokesman Frederick Hill.

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Filed under Congress, Darrell Issa, House Committee on Oversight and Government Reform, humor, movies, parody, politics, Republicans, snark, Wordpress Political Blogs

Who should go to jail? Fill in the Blank(fein).

(Reuters) – Goldman Sachs Group Inc was charged with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product, igniting a battle between Wall Street’s most powerful bank and the nation’s top securities regulator.


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Filed under Barack Obama, Bill Clinton, Carl Levin, Congress, Democrats, humor, Justice Department, parody, politics, Senate, snark, Wordpress Political Blogs

For the Love of Pete

From TALKING POINTS MEMO:

Intrigue. Deceit. And forbidden love on a sun-kissed tropical island — with billions of dollars on the line.

No, this isn’t a Danielle Steel bodice-ripper. Or Mark Sanford’s latest confession about crossing “the ultimate line”. Instead, it’s the story of the tangled, high-stakes relationship between Rep. Pete Sessions (R-TX) and accused Ponzi schemer Allen Stanford.


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Filed under Bill Nelson, Bob Ney, Chimpy, Democrats, George W. Bush, humor, Jack Abramoff, Justice Department, movies, parody, politics, Republicans, Senate Banking Committee, snark, State Department, Wordpress Political Blogs

Who Ya Gonna Call? Filibuster!

From Joe Conason at Salon:

If Democrats are disappointed by Joe Lieberman’s threat to filibuster any healthcare reform bill that includes a public option, they shouldn’t be. Despite all of his past promises to support universal healthcare, nothing was more predictable than the Connecticut senator’s fealty to the insurance and pharmaceutical lobbyists.

Much the same can be said of Sen. Evan Bayh, who emerged from hiding on healthcare to announce that he too plans to filibuster against reform with the Republicans, regardless of what his constituents and Americans in general plainly want. Like Lieberman, his state is home to powerful corporations that want reform killed — and like Lieberman, his wife has brought home very big paychecks from those same interests. . (UPDATE: A report published in a South Bend paper Thursday night says Bayh may now support a floor debate.)


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Filed under Democrats, Evan Bayh, humor, Joe Lieberman, movies, parody, politics, Republicans, Senate, snark, Wordpress Political Blogs