Andrew Breitbart Calls For Spencer Bachus (R-AL) To Resign-NOW, Not 5 Minutes From Now–NOW!


Andrew Breitbart calls for Rep. Spencer Bachus (R-AL) to resign from Congress in light of revelations that the Chair of the House Financial Services Committee personally profited by shorting financial stocks after being briefed on the impending financial crisis in 2008. The revelations were made public in Breitbart editor Peter Schweizer’s new book, “Throw Them All Out,” and was broadcast on CBS News’ 60 Minutes this evening.


Breitbart Calls For Spencer Baucus To Resign From Congress

GET OUT!!!! NOW!!!

3 thoughts on “Andrew Breitbart Calls For Spencer Bachus (R-AL) To Resign-NOW, Not 5 Minutes From Now–NOW!

  1. Former Speaker of the House–and current Minority Leader–Nancy Pelosi apparently bought $1 million to $5 million of Visa stock in one of the most sought-after and profitable initial public offerings (IPO) in American history, thwarted serious credit card reform for two years, and then watched her investment skyrocket 203%.

    In early 2008, Nancy Pelosi and her real estate developer husband, Paul, were given an opportunity to buy into a Visa IPO. It was a nearly impossible feat–one that average citizens almost certainly could never achieve. The vast majority of purchase opportunities went to institutional investors, large mutual funds, or pension funds.

    Despite Pelosi’s consistent railing against credit card companies, on March 18, 2008, the Pelosis bought between $1 million and $5 million (politicians do not have to report the exact amounts, only ranges) worth of Visa stock at the IPO price of $44 per share. Two days later, the stock price rocketed to $65 per share, yielding a 50% profit. The Pelosis then bought Visa twice more. By their third purchase on June 4, 2008, Visa was worth $85 per share.

  2. MJ…
    Like you say Hon…
    If you have a million or two lying around, YOU too, could buy that stock, they don’t play with a 100K… 😉

    Regards, Gramps sends…

  3. 60 Minutes Cherry Picks Book To Make Congressional Insider Trading Mostly a GOP Scandal

    Unfortunately, this Sunday’s 60 Minutes piece about Congressional insider trading cherry picked from author Peter Schweizer’s soon to be released book “Throw Them All Out” to make it look like this is largely a Republican scand
    As such, four of the five lawmakers named were Republicans certainly giving viewers the impression this is largely a GOP scandal.

    Yet a source that has seen an advanced copy of Schweizer’s book says that 60 to 70 percent of the offenders named are Democrats.

    According to Newsweek’s Peter J. Boyer, one of them is Sen. John Kerry (D-Mass.):

    The Kerry trustees’ impeccable timing in drug company trades was evident again in 2007, when the federal government was weighing whether to discontinue Medicare reimbursement for certain anemia drugs used by cancer patients. When the government announced that it would limit reimbursements, shares in Amgen, one of the drugmakers at issue, dropped 15 percent. Kerry’s wife happened to be an Amgen stockholder but avoided losses; her shares, valued at between $500,000 and $1 million, were unloaded more than a week before the government’s announcement.

    Kroft and 60 Minutes didn’t mention a word of this. Nor did they mention potentially more serious corruption identified in Schweizer’s book as he wrote at Newsweek Saturday:

    Also ignored were other offenders exposed by Schweizer such as Sen. Harry Reid (D-Nev.), Sen. Max Baucus (D-Mt.), Sen. Dick Durbin (D-Ill.), and Sen. Dianne Feinstein (D-Calif.).

    I guess those names weren’t “household” enough for 60 Minutes to bother exposing.

    To be sure, I am by no means suggesting this is exclusively a Democrat scandal. Schweizer’s book clearly identifies this is a bipartisan problem.

    However, by featuring four out of five offenders as Republicans Sunday, 60 Minutes was clearly trying to imply otherwise as it dishonestly protected lawmakers more closely aligned with its political leaning.

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