Congressional policymakers know that bills will become regulation long before the general public. This paves the way for potential congressional insider trading. As author Peter Schweizer notes, however, not only is the door open, but people in the U.S. Congress could very well be going inside to produce illegal increases for themselves on the stock market.



Check the book out



In Schweizer’s new non-partisan novel “Throw Them All Out,” the 47-year-old previous foreign policy adviser to vice-presidential candidate Palin puts his finger on some disturbing information that “would send the rest of us to prison,” he writes. Apparently Schweizer has proof that proved there has been unlawful trading that congress members have participated in.



Taking their word for it



While investigating Sen. John Kerry of Massachusetts, Schweizer discovered that Kerry’s brokers purchased stock shares in 103 pharmaceutical corporations in 2003. Kerry, one of the wealthiest members of the Senate, was the chairman of the health subcommittee. A new prescription drug entitlement that would pay a lot to the pharmaceutical industry was being discussed as brand new Medicare legislation.



Any kind of pharmaceutical person that made a trade like that before the passing of legislation would be charged.



“They were all great picks,” Schweizer told The Daily Beast. “The only group in America that we exempt is politicians, who are probably the last people about whom we should be saying, ‘Oh, we’ll take their word for it.’”



Kerry has a spokeswoman. She claims these things didn’t take place



“Senator Kerry does not buy, sell, or trade stocks,” Kerry spokeswoman Jodi Seth proclaimed to the Washington D.C. press corps. She claims he missed much of the Medicare bill discussion, as he was running for president in 2003.



It is probable that Kerry didn’t contact a broker himself. This is something Schweizer admits.



“It’s not that I think John Kerry is calling up his broker, on health care, and saying, ‘Buy this company, sell that company?’” Schweizer says. “The issue is one of a double standard.”



Accusations flying



Right before the health care bill got rid of the general public choice portion, evidently “tens of thousands of dollars” in health care insurance company stocks were invested by speaker of the house Joe Boehner. The House Financial Services Committee member Rep. Spencer Bachus made stock trades. This was right before 2008 when the stock market crashed. Stocks were sold before the crash by both Rep. Shelly Capito and rep. Jim Moran.



Right after legislation got to the house, Nancy Pelosi’s husband got over $5 million in Visa shares, which is one of the worst accusations Schweizer states. Two days after public trading, Visa’s shares increased a ton. They went up from $44 to $65 per share.



Where do you expect this all to occur for Congress members?



Information from

Big Journalism:

The Daily Beast:

Newser:

Peter Schweizer Wiki:

Politico: