Ever wonder how a United States congressman who makes around $177,000 a year becomes a millionaire fairly quickly? Remember how panicked some of those Democrats were prior to the 2014 midterm?
Do you think it was out of potential disappointment for not being able to represent their constituents, or do you think it was something a little more personal?
Some of these representatives make Hillary “cattle futures” Clinton look like the rank amateur she was, but it sure answers the questions of why our elected representatives (and their staffs) kick and claw to hold onto their seats. CBS’ 60 Minutes implied more Republicans were way more involved in this activity which experience tells us “insider trading” may have been more a Democrat caper than the partisan, protectionist media would let on.
After all, can’t have any Democrats bashing millionaires when many of them are and they really didn’t have to work very hard to earn those millions.
Like John McCain, Senator Bob Corker (R) believed he could stay on the right side of the media opposing a Republican president. Also, like McCain, Corker became a target of scrutiny once he outlived his usefulness.
Tennessee Senator Bob Corker tested the limits of the moonlighting possibilities in the legislative branch, essentially becoming a full-time day-trader who did a little Senator-ing in his spare time. By 2014, when Corker sat on the Senate Banking Committee, a position that gave him regular access to prime information about the future direction of the markets, the Tennessee Senator still had his foot on the gas. He made 930 stock trades that year.
One financial analyst I know said Corker’s trading patterns looked more like the work of “an office of multiple analysts all grinding at least 60 hours a week” than like the work of “one guy moonlighting as a Senator.”
In the first nine months of 2007, Corker made an incredible 1,200 trades, over four per day, including 332 over a two-day period. Corker’s net worth has risen by millions since before being elected, to the point of being the fourth wealthiest man in the upper chamber, worth $69 million as of 2015.
— Rolling Stone, 12/22/18
Whoever tells you a politician on Capitol Hill is capable of policing his or herself must be a politician.
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