Topic: 60 Minutes’ Ambushes… Nancy Pelosi?

[John Florida]

http://www.breitbart.tv/60-minutes-ambushes-nancy-pelosi/

[trapeze]

Just watched the segment.

Transcript here.

The segment was, naturally, heavily tilted against Republicans.

Listed bad guys:

Spencer Bachus (R) Traded GE stock on inside info from the Financial Services Committee.
John Boehner (R) Bought health insurance stocks after debate on the public option.
Dennis Hastert (R) Bought real estate in conjunction with an earmark to build a road.
Nancy Pelosi (D) Made millions in a credit card IPO

Listed good guys:

Peter Schweitzer (not a politician but conservative) Fellow at the Hoover Institute his research was the basis for the 60 Minutes story
Brian Baird (D) Wrote HR 1148 (the STOCK Act)
Louise Slaughter (D) Co-sponsor of HR 1148

See a pattern?

The problem of legislators enriching themselves via insider trading is very real and sickening but the 60 Minutes segment (with the very obvious exception of Pelosi) was painted as a uniquely Republican issue.

What.

A.

Surprise.

[Sectionhand]

Nasty Pelosi doesn't do so well when being skewered and grilled . Her response was a jumble of sputtering bullsh*t .

Pretty embarassing ... and pretty funny !

[Libertas]

I'd rather pull lint out of my belly button than watch 60 minutes, but thanks for the breakdown.  Doesn't improve my low opinion of proglodytes in office or media one iota!

[trapeze]

More on this story (and much better than the 60 Minutes hit job) can be found here.

While examining trades made around the time of the 2003 Medicare overhaul, Schweizer experienced what he calls his “Holy crap!” moment. The legislation, which created a new prescription-drug entitlement, promised to be a huge boon to the pharmaceutical industry—and to savvy investors in the Capitol. Among those with special insight on the issue was Massachusetts Sen. John Kerry, chairman of the health subcommittee of the Senate’s powerful Finance Committee. Kerry is one of the wealthiest members of the Senate and heavily invested in the stock market. As the final version of the drug program neared approval—one that didn’t include limits on the price of drugs—brokers for Kerry and his wife were busy trading in Big Pharma. Schweizer found that they completed 111 stock transactions of pharmaceutical companies in 2003, 103 of which were buys.

“They were all great picks,” Schweizer notes. The Kerrys’ capital gains on the transactions were at least $500,000, and as high as $2 million (such information is necessarily imprecise, as the disclosure rules allow members to report their gains in wide ranges). It was instructive to Schweizer that Kerry didn’t try to shape legislation to benefit his portfolio; the apparent key to success was the shaping of trades that anticipated the effect of government policy.

Funny that this one didn't make the 60 Minutes cut. Why should it when they can focus on a long retired Speaker of the House (Hastert) and a current leader who sez his investments are done blind?

[Damn_Lucky]

Didn't fit thier agenda Trap.
I think it's time to send in the trappers to clean out the rats in the SWAMP!
I've got a dozen rat traps I'd be willing to set.

[Pandora]

I was stuck listening to Hannity's radio show for a bit, and he had Schweizer on talking about his book and focusing on Kerry.

There really needs to be a law, and this coming from someone who rarely says so.