Day Traders in Frist and Delay's offices? - Rumor
This may be something, and it really may not. I'm gonna put this up, but treat this with BIG SKEPTICISM at this point.
Last night on AirAmerica radio, Rep. Louise Slaughter (D - NY) made a statement that Frist and Delay had daytraders working out of their office (not for them but out of their office) making trades based on pending votes and legislation. (.wma, mp3 - Americablog link)She claimed that the rules committee would be issuing a report in two weeks called "The Selling of America."
She also said that Newsweek "has this written up" already.
She said "the most egregious example" that with the inside knowledge "that there would be no Asbestos bill" these traders set positions to profit. Because of the way she phrases this, it sounds to me like she got a peek at a draft of a letter or of the newseek article, so her version may not be dead on.
Honestly, I find it a little hard to believe that there were daytraders physically in their offices but a looser interpretation, the idea that information was leaking is pretty plausible. I wouldn't imagine that the trail would lead to Delay or Frist, even if by some foolishness they were involved. I wouldn't rule out that there might have been corrupt staffers leaking information to "friends" or selling information.
So, right now we have a second hand report of wisps of smoke, and that's a looonngg way from a fire, so accept that this is nothing but completely unsubstantiated rumor at this point.
The thing I'm going to look for is if Newsweek rushes this story out in the next couple of days. Their scoop has been blown and, if there's anything credible enough to write about, they'll probably be rushing it out. (I don't know what day of the week they officially publish that old fashioned paper version, but that would be the last likely day. If they don't put this out before or on that day, there's probably not much there.)
UPDATE: For whatever it's worth, Rawstory now has a piece up on this. More smoke.
Last night on AirAmerica radio, Rep. Louise Slaughter (D - NY) made a statement that Frist and Delay had daytraders working out of their office (not for them but out of their office) making trades based on pending votes and legislation. (.wma, mp3 - Americablog link)She claimed that the rules committee would be issuing a report in two weeks called "The Selling of America."
She also said that Newsweek "has this written up" already.
She said "the most egregious example" that with the inside knowledge "that there would be no Asbestos bill" these traders set positions to profit. Because of the way she phrases this, it sounds to me like she got a peek at a draft of a letter or of the newseek article, so her version may not be dead on.
Honestly, I find it a little hard to believe that there were daytraders physically in their offices but a looser interpretation, the idea that information was leaking is pretty plausible. I wouldn't imagine that the trail would lead to Delay or Frist, even if by some foolishness they were involved. I wouldn't rule out that there might have been corrupt staffers leaking information to "friends" or selling information.
So, right now we have a second hand report of wisps of smoke, and that's a looonngg way from a fire, so accept that this is nothing but completely unsubstantiated rumor at this point.
The thing I'm going to look for is if Newsweek rushes this story out in the next couple of days. Their scoop has been blown and, if there's anything credible enough to write about, they'll probably be rushing it out. (I don't know what day of the week they officially publish that old fashioned paper version, but that would be the last likely day. If they don't put this out before or on that day, there's probably not much there.)
UPDATE: For whatever it's worth, Rawstory now has a piece up on this. More smoke.
posted by mikevotes at
11:11 AM
2 Comments:
I think your skepticism is warranted. This sounds off the reservation to me. Now...let's hope that I have to eat my words and that Repubs are really that stupid.
By
Anonymous, at 2:29 PM
It wouldn't surprise me if there were leaks of information, that kind of thing does happen, and with the money that could be made shortselling an aerospace company the day before their biggest fighter gets cut I would think that it goes on.
So, there probably were violations and even insider trading kinda crimes here, but to make the leap that the heads of the office were involved, or that legislation was amended or killed just to make money I think is a stretch.
Probably just staffers acting unethically.
But, if it's a crime, you still gotta go after it, whether it's Delay or the receptionist.
Mike
By
mikevotes, at 4:17 PM
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