I could not help myself. I must write about this book. As I read it, my mouth was agape. How can any of these politicians be relevant when telling others about right and wrong. We just saw Raj Rajaratnam go to jail for many years. We saw Martha Stewart go to jail. We have seen the SEC buckle down on illegal insider trading but we now find out, those rules do not apply to our politicians. Our politicians can commit what in our world, are felonies. In their world…are no biggies. How has this come about and why hasn’t the mainstream media jumped all over this? To my chagrin, hardly anyone is talking about this now. It has been all but dropped. Imagine a politician buying land and then earmarking a road near the land in order to raise values. That politician then sells at a hefty profit. Imagine a politician on the banking and finance committee voting on financial matters and then either going long or short those same stocks which would benefit or not from their vote. Imagine a politician who had a vote on Obamacare and then buy and sell stocks based on where they knew the vote was going. Well…you don’t have to imagine. In plain sight, these hypocritical #&#@* have made rules for themselves that should make all regulators cringe. Now we get to figure out why tax evasion received a slap on the hand. These people think they are above us. These people think they are not accountable. I am sorry, in my mind, these people are crooks. If I traded on inside info…if I self-dealed…if I put myself in front of my clients, I am out of business and begging the courts for mercy before they send me away. Not in Washington. Tax evasion gets a slap on the hand as well as re-election. Stories now abound about politicians who came into office with very little money and on a fixed salary, leave with millions years later. How did this occur? Please read the book.
But the most amazing chapter in the book was chapter 5…all about the cronyism of this administration. ..as they took taxpayer dollars and handed them off to friends…some of them billionaires. Yes…this administration that is for the 99% is now found to be not for the 1%…but for the .5%…and all are friends. This administration has now broken all track records for ripping the taxpayer off in order to enrich their friends, their bundlers, their heavy lifters…yet where is the outrage? 60 Minutes did a show on all this. Was there any follow-up? If this chapter is true, I consider this administration the most corrupt we have seen in ages as they are simply stealing taxpayer dollars that have not even been earned by the taxpayer (deficit spending) to enrich their cronies. If true, Obama’s class warfare is nothing but public relations and nothing but a fraud as his cronies are mostly wealthy, rich people with their hands out. Solyndra was not just an issue…it was a poster child of what they are doing with our money. This chapter is a must read for anyone that believes in fair play and a level playing field. It is absolutely sickening…and we have no say in the matter.
SPECIAL NOTE: Be sure to register now for my next live Webinar on Saturday January 21, 2012. I will talk about the important implications of early-January’s market action…and much more. Click here for more information.
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.