The rule is that all cabinet level Secretaries "and others in sensitive positions" appointed by the administration must place nearly all investment funds in blind trusts.
I know some oil business people who turned down cabinet positions, in past administrations, because they would have to forfeit control of their personal holdings. Even Mrs. Clintons' trading was prior to 1992, I believe. Just making wild accusations without checking the facts really only belittles the accuser.
He doesnt need to trade HAL... he will be taking backdated commissions off HAL for the contracts he has secured em, when he leaves political office...
Right. 1) He doesn't have time to trade. 2) He could have someone do it for him under their own name. 3) When he leaves office, he has many jobs waiting for him at 10X his current salary. Not to mention 50K speaking engagements and many other deals. He has the option to receive more money than he knows what to do with. It would be foolish to risk any of this by doing something as stupid as daytrading. At this level, you get handed deals - near riskless deals that are double digit baggers. Witness Hillary's commodities deals and W's Texas Rangers deal. There is no need to "trade".
Unlike MJ, who was fired when he again retired to return to the front office, Cheney has a job waiting...if he wants it. It is not as if the end of inside information will cease once he is no longer the V.P. How many former Presidents and Vice Presidents in the past 30 years have been found lacking in their portfolios upon retirement from office? One thing about the Republicans, they take care of their own.
The same could be said of other insider dealers such as Milken...but it didn't stop them doing it. Its pretty clear to any one who trades that there's a lot of insider activity going on and it would be naive to assume that the top pols and business leaders aren't in on it.
Agreed. They are "in on it" and have knowledge of it. Their apparent distance from it is too great to tie them to it. Profiting from something does NOT mean you have to DAYTRADE it. Unfortunately, a lot of daytraders seem to believe that the only way to make money on something is to daytrade it. It was a different game when Milken played.