Isn't this interesting.....

“
CQ TODAY ONLINE NEWS – CAMPAIGN FINANCE
April 10, 2009 – 12:05 a.m.

Campaign of Energy Leader Lost $700,000 in Markets
by Jonathan Allen and Alex Knott, CQ Staff

Texas Rep. Joe L. Barton ’s campaign reported losing $703,500 in the financial markets last year.

A large chunk of those stock market losses — $196,900 — were in shares of four companies that have a stake in the bills handled by the House Energy and Commerce Committee, where Barton is the top Republican.

Barton is one of a handful of House members whose campaign accounts are heavily invested in stock and bond markets, and, like many other investors, his campaign savings took a pounding when the stock market crashed.

His campaign’s paper losses — which have not been locked in because the assets have not been sold — include $85,800 in General Electric stock, $68,400 in General Motors Corp. stock, $13,500 in Home Depot stock and $29,200 in stock in Lennar Corp., a home-builder that specializes in constructing houses that harness solar power.

Barton campaign spokesman Craig Murphy said the congressman has invested campaign funds for two decades and has no plans to divest.

“As it stands, the better off America is, the better off our campaign will be,” he said. “We are comfortable being together with America in that boat.”

It is legal for lawmakers to invest campaign money, and House conflict-of-interest rules do not apply to campaign holdings.




The point of this posting isn't necessarily an Us & Them thing... Feel free to freak out based on party if you like, but did anyone know that politicians can direct their campaign account investments to companies they oversee in committee??   How about their "leadership PACs"?

Isn't that amazing?

There have been laws against this kind of conflict of interest for decades and yet they overlooked this somehow??

One more Large Rat-hole to clear out ----”

“'One more Large Rat-hole to clear out ----'????”

“It's not a surprise, really. They have themselves set up to rake in cash at nearly every turn. Very few if any "public servants" run for office to serve the people anymore. You just have to keep adding names to the list of those you'll never vote for again and hope never get elected again. Sad.”

“while i'm not surprised by this, i wasn't aware of it. imagine, a politian leaving a loophole to benefit only a politician. it should be as criminal as any other trading violation. he should be thrown in jail.”

“Thrown in jail, yes, but only after he's shot.”

“Come on now fellows, we all know he should be given another chance. Maybe if he pays back what was lost. Let's not be to hard on this guy.

Can you imagine what the comments would be if this guy was a democrat?”

“And they probably ALL do it.

I wonder if any of their PACs lost money with Bernie Madoff?   LOL”

“MUCK RAKER!”

“If no one raked muck, gojo would still be subterranean.”

“Mr Nimblefoot what tha frik are you saying?”

“Something about going down and raking the muck”

“It was amerely a suggestion that gojo came from deep down in the muck.”

“so are you talkin the kind of muck that a guy gets under his balls when he backpacks for several days?”

“Ball wax”

“Hard's been peekin'”

“That is so cool Tilty, now you gonna reference the number of PrezBO Appointees (including the PrezBO) who have exactly the same thing?”