Reddit Reddit reviews Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison

We found 13 Reddit comments about Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison. Here are the top ones, ranked by their Reddit score.

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Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison
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13 Reddit comments about Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison:

u/AyeMatey · 16 pointsr/news

The analysis of the stock transactions was put forward in a book by Peter Schweizer, a fellow at the conservative Hoover Institution at Stanford University.

The book, entitled "Throw Them All Out", and subtitled How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, was featured in a recent "60 Minutes" investigation that gained a lot of attention.

In it, Schweizer said McDermott "bet big" by buying 2,000 shares in ID Biomedical of Quebec for $10 apiece in June 2004. That was six weeks before the House of Representatives passed the $5.6 billion bill dubbed Project Bioshield. Shares in the company subsequently tripled before McDermott sold them in September 2005.

Asked if he was accusing Rep. McDermott of insider trading, book author Schweizer said, "it is highly unethical to purchase stock in a bill you are supporting and then enjoy the profits when the corporate recipients see their stock climb."

Also named in the book as beneficiaries of cronyism and insider tips are Sen. John Kerry, D-Mass., Sen. Max Baucus, D-Mont., and House Speaker John Boehner, R-Ohio.

u/EvangelicalChristian · 12 pointsr/politics

It was front page news several weeks ago, and the man who wrote the book about all of this is enjoying a few weeks on the bestseller's list.

u/uch · 7 pointsr/politics

Prior to Quantitative Easing 1 (QE1), "there were 18 Federal Reserve Board members who were previously high-level executives of the “too big to fails” that were in line to receive the bailouts, according to a GAO report. And 76 percent of Fed board members also own or owned stock in those same institutions."

"Those (top 6 financial) entities spend billions of dollars to lobby Congress and finance Congressional campaigns and buy Presidents (they own both Barack Obama and Mitt Romney)."


Sounds like plenty of corrupt breathing down of throats already.

If you haven't read Throw Them All Out, I highly recommend it. Both sides are corrupt as the day is long, and the Federal Reserve is just another tool of that corruption.

u/dwt4 · 7 pointsr/news

If by 'best journalism on TV' you mean they read Peter Schweizer's book Throw Them All Out.

u/Watauga · 6 pointsr/politics

As stated in this segment, it is based research done in this book, . The book probably should be required reading.

u/Pepeisagoodboy · 5 pointsr/The_Donald

Toilet cleaning should be a privilege for these jackals. They deserve to be on a chain gang turning big rocks into smaller rocks. Read "throw them all out" by Peter Schweizer to learn about how nearly all of our elected officials are straight up criminals, via insider trading and other shady deals they all conduct.

u/itsrattlesnake · 5 pointsr/ShitPoliticsSays

I remember when that book came out detailing the insider trading and horrible corruption going on in the halls of Congress. As I recall, 75% of the politicians mentioned negatively in the book are Democrats with the remainder obviously being Republicans. Guess who /r/politics ragged on . . .

u/PM_me_yr_bonsai_tips · 2 pointsr/wallstreetbets

This book is incredible, it probably has a Republican bias to some extent but well worth reading. The legal standard for insider trading among US politicians is completely different from what you’d find in business.

u/theorymeltfool · 2 pointsr/occupywallstreet

The problem with the world is, there are way too many people that have been apathetic for too long about political corruption. It's start to demand change at every level of Government, which means kicking out all incumbants and anyone that was so much affiliated with anyone participating in any type of Fraud, Waste, or outright Abuse. Anytime anyone in government commits fraud, they should immediately be forced to resign, or should be voted out in the next election cycle.

u/upslupe · 2 pointsr/occupywallstreet

Peter Schweizer was a foreign policy advisor to Sarah Palin. He works with Andrew Breitbart and has authored several books with titles such as Makers and Takers: Why conservatives work harder, feel happier, have closer families, take fewer drugs, give more generously, value honesty more, are less materialistic.

But I don't bring this up to discredit the man. I think it's great to see a person of his character addressing such a pertinent issue like insider trading in Congress. The fact that it is him delivering this message encourages unity between conservatives and liberals so that we can more effectively confront the extensive corruption within our state and corporate systems.

Edit: This story was also covered well by Newsweek. Peter Schweizer's new book, on this topic and based on his independent research, is Throw Them All Out.

u/chaosmosis · 1 pointr/badeconomics

Regarding your 2: there are five different scandals linked on that linked page alone, just from the time Bill was President. There have also been many scandals she's faced since that time. You don't consider that a problem, seriously? They say that whenever you see one cockroach you should conclude that there are several nearby. So what then should we conclude when we see several cockroaches, if not that there's an infestation?

I can see three main possibilities: either she is an innocent person and keeps getting accused of illegal actions due to the worst luck in the universe, or there's a far reaching conspiracy focusing on manufacturing false claims against her specifically (much more often than against any other potential target), or she is guilty but calls in favors and destroys relevant evidence in order to get away with things she shouldn't be able to get away with.

Which seems the most probable to you: a corrupt politician getting away with it, a powerful conspiracy against a politician existing but somehow failing over and over and over again to get rid of her, or someone innocent of all wrongdoing repeatedly facing scandals for absolutely no reason?

If you don't think it's a big deal when politicians break laws in order to make themselves and their friends money, I'm astonished. Corruption is the ultimate form of rent seeking, and the proximate cause of highly extractive institutions. Additionally, when someone who's corrupt is in power, they'll tend to bring other rent seekers in their wake. They are likely to sympathize with their friends promoting special interest groups, rather than to dispassionately evaluate the costs and benefits of policies for the average citizen. I think the laws that we do have are permissive enough as it is. I'd much prefer a candidate who seeks to strengthen and broaden these laws in order to give government policymakers good incentives, over a candidate who prefers to weaken them, circumvent them, or break them.

The cattle controversy is the one I'm most familiar with. She got a hundred fold return shorting the cattle futures market during a time when the cattle futures market was rising. Expert economists, using a model "stated to give the hypothetical investor the benefit of the doubt... concluded that the odds of such a return happening were at best 1 in 31 trillion." Whatever the justice system might or might not require, I don't need any more evidence than that. An exact description of how she did it seems unnecessary, in my view, when such an implausible outcome occurring without corruption is essentially impossible. I am very much inclined to think that if she were a normal person, rather than a rich white ex first lady who has lots of friends and knows lots of secrets, one of these scandals would have landed her in jail by now. Politicians are corrupt all the time, and get away with it all the time, and she shows every possible sign of being typical in that regard.

I am not saying that because she is corrupt, she's automatically worse than any other possible candidate running for the presidency. I'd prefer Clinton to Trump, certainly, and am essentially indifferent between her and Sanders. However, I do think that it's shameful to our legal system that someone like that is allowed to walk free, and shameful to democracy in general that she's the best candidate our electoral system has managed to produce for us this year. It has become mainstream for people to mock and insult the Republicans for having Trump leading the polls, and the Republicans deserve it, but if the world made sense the Democrats would be receiving similar insults too, and just as frequently, but they are not.

It's not just Hillary I think is corrupt, though, lest you think this is all coming from a place of partisan bias. Karl Rove belongs in jail too. As do many other "respectable" people who've helped guide our country, in both the major political parties, whose names are too numerous and controversial for me to list here.

u/quiero-una-cerveca · 1 pointr/politics

If you really want to lose your mind at how bad it is, read this book. It’s insane what they’re legally allowed to get away with.