superstore and wall street journal of brody moans as susan opponent uh...
wrote about it
is the story of how hedge fund managers against the other people on
capitol hill
including uh... very powerful senators
to figure out what's going on a legislation
before it goes in the legislation
so they can make it kano money off it they have a great number of examples let
me just give you a couple
for example
uh... before there is a public announcement on the health care law
uh... that the democrats for passing
on december eighth of two thousand and now
this group called edgy and case securities the brokerage firm
uh... a bunch of uh... these kind of thing together
with the lobbyists at that represent these hedge funds in fact
let me give me the name of the fed hedge funds managers for biking global
investors and course capital management
and uh...
well whether congressmen senators to
they told them what was going to be in the bill
now that was enormously important because
was they're going to be a public option or not a problem option
if there is no public option that would mean the prices of the eric
healthcare insurance companies like aetna
that cigna would go off
because then i remember the publisher would help to all of us lower prices
but the democrats the republicans tell that
so then of course
the market reacted by saying kuwait
let's buy up his private insurance companies that are made even more profit
because washington
was so helpful about philly now armed with that information one of these hedge
funds to will viking
what's six million shares of at that
in that fourth quarter where they got that information
korish
bought up half a million shares of aetna when they had a that information
and guess what i have met that those prices
after they realize for the public option was killed because the senators holed up
in a meeting before it was an ounce of the public
at this price point up fourteen percent in that court
and those hedge funds
made act
killing
did you guys are you feeling now that i know you got the screw
not only did i get the public action using it secret information about
what was going to be in the bill
now all we're selling catholic for wall street people who pay often by our
incredibly corrupt politicians
but that's not the only serve or
for example
uh... same group uh... jane k uh...
is securities traded suburban from by the way
they used to charge declines ten thousand dollars for every meeting with
senator
but then that seemed a little
you know partly because once they've made a press on a meeting that was
senator tom harkin
like who harkin advocates of his that's so obvious
so now what they do is
do the trades through their own brokerage firm so they get commission on
all these trays they make a killing on
thereby making even more money right while hiding it from you
so another meeting with a setup
was with
express scripts incorporated and medco health solutions
uh... on their proposed merger
uh... was getting anti trust fund well likely they knew that had of the
antitrust committee
which was senator herb kohl
how they set this thing up a set of meeting up with this top eight px
because the lobbyists who set it up
whose name is paul mook of bach
was proposal former topping a
buys their community actively more
told it was only on terms on current
hey this is how we do things week go and we basically tell these
top aides that at some point where the hire them so than they do whatever we
come to do and in fact is that
his or her post op eight got paid by those
uh... brokerage firms
and heat and and the lobbyists and he turns around so that i saw that gave you
play ball it was getting get weeks here
everybody meaning everybody in washington
so yet another piece of important information on whether that merger was
going to go to in juneau health course not
than anybody else investing in the market know about about of course not
only the wall street hedge funds that are donating to these campaigns and
buying up their top aides
but we're not done there's more
how about kind of this capital management
well they wanna know whether but there was going to be
legislation against visa and master card
uh... dick durbin was playing this legislation capping the amount of fees
they would get which eventually wound up at sea
uh... but
uh... what they want but what they needed to know though was whether chris
dodd
was going to conclude a specific provisions
that in their estimation would have hurt visa and everybody thought chris dodd is
a
uh... democrat from connecticut he would support the curve is legislation a
democrat from illinois
but now
actually chris dodd ones of having a secret meeting with cannot as capital
management
until sometime after the support that white piece
that piece of the legislation
they go thank you very much we appreciate it
uh... the that hedge fund
went from having three thousand three hundred thousand shares of visa
to having nine hundred and fifty thousand shares of these up
with the secret information that they have
and love it
whatever there is a
in that same court of their price went from eighty one dollars
ten ninety six dollars
and cut out us capital management made ed absolute
telling on that
well you know they hide of course all the specific trace but you know what
they did per quarter unless they were total morons
absolutely killed on those
extra shares of these are the people
birthday dot only where they could a loss
is that they kept it for a longer long read some distant later time
they lost money on it but the reality is in that time period that they got the
secret information they made a tremendous amount of money on it if any
uh... based on what we know are from the public records
so this is how it works and that's how the scam works now
the in the list goes on and on another uh... issue
they meet with represented carolyn maloney who is
i'd keep democrat
uh... and uh... she supposed to be out there protecting us and do a financial
reform old made cheese that is a secret meetings
when asked her about it you just met with all these hedge fund managers
and full of information
known quote sheet that investors because
many were constituents and it was an opportunity to express my strong support
for the financial forms we're working on for the bushes right she represents
part of your city
some of these enormously rich hedge fund managers our constituents but much more
importantly
their constituents as in this sense that she in reality only represents them in
the limit
then about u prayed
so as you mentioned that it represents a couple of months ago foundation inc
absolutely here you go don't forget the polls a leveling back to me
and that's a bar that was funny
she just want to express to those hedge fund managers how strongly she believes
and financial reform wink
wink
by the way here is that something i can
i would tell you have a time is that we love to do on the show
then you see a uh... for yourself how politics works
but it is not a hindsight i'm telling you right now well before it happens
birthday
barney frank's step down as the head of the finance committee kisses retire in
the house
is a democrat right
the democrats are considering
who's getting ahead of the committee for that they're in the minority at this
point but it would be their leadership on a committee
the person who is senior days maxine waters
basil i'm reading here and other articles that i have read hamlet alley
is not going to be maxine waters
it's gonna be carolyn maloney
carolyn maloney is way down the seniority list but she has made it clear
to wall street i'm here to play ball
what do you like their constituents
you tell me and i'll do it no problem right
so she was silent our become the democratic leader of the finance
committee i could be wrong will find out
and believe me if i'm right on the let you know about
at the bomb while malaysia nobody to so uh... this is how congress works
now uh...
here is uh...
center-right you see on president of integrity research associates
any related to a wall street that has the name integrity on it is a kind of a
funny thing
it's actually an independent route that analyzes research providers so
that they're not the guys that are setting up these meetings are analyzing
those guys
basis for
hedge funds and other investors have found that washington can be a good mine
of market moving information
is regarded by those who are politically connected
mister bragg you nailed it
that's exactly what's happening it's a gold mine
whoever buys these politicians because they're so unbelievably corrupt
but it's so easy enough for the southern slavery
hello
milligauss fantastic nec corporation done deal
campaign donations later of higher everybody in this office later no
problem
can-do what what how would you like to rob the american people want
but mrs
i don't like it's in
unbelievable that it's not illegal it's the essence of insider trading
having information at the rest of the public does not
but now we hear from a company with donna from sold-out bought
prostitutes of politicians okay
well they're democrats or republicans we do it all the time
gee i don't know why people are so angry i want to know washington and corruption
was a big deal
when out uh... years although
wall street journal
quarry terrific explaining how the republican democrats explain these
return they see republicans as they seek to view of hedge fund managers to hope
shape laws that's for investment
okay and i'm doing for citizen fate
in it what they know or sharp fire winners is on the senate ever vision
they got
but at least of all those are hiding in that was the lady at work
we meet with asthma managers to help shape the laws
whatever hedge fund managers on wall street want to do we're gonna do it
right that status is or the republicans say out of the democrats they say
democrats say conversations we depend on public policy
because investors tell them about loopholes inefficiencies or on-scene
consequences of existing law
you see how the democratic party is consistently
uh... more duplicitous
the republicans have at this point nearly given up the forest they
basically have changed their motto to we represent the one percent
we're here to serve the banks that's literally was spencer back and said
republican of alabama
uh... the democrats on the north pole
weekend so much about the lol
and we ought to know if there's a move most of these investors can take
advantage of it that's why we're the meeting with them
well the detail approvals no
you told them about the secret information that they could make billy
millions of those billions of right
so how did that help the american people that i don't know
i'm here to serve my constituents the banks
financial advantage