Et Tu, Chuck?

I found this to be rather amusing:

Early last year, Wall Street traders somehow found out that the Obama administration planned to make a policy change to Medicare before the news was even announced.

The flurry of stock trades in major health care companies that followed has since caught the eye of federal law enforcement as well as Sen. Chuck Grassley (R-IA), who has made investigating the matter one of his pet projects on the Senate Finance and Judiciary committees. In his search, Grassley has gone as far as to cast suspicion on the Obama administration as the source of the leak.

But in a twist, the Wall Street Journal reported last week that federal regulators and law enforcement officials have now focused their attention on a Republican health policy staffer in the House. A lawsuit filed on Friday by the Securities and Exchange Commission, first reported by the Journal, said investigators believe the staffer “may have been” the source of the leak. It also sought to force the staffer to turn over records to investigators, something he and the committee have reportedly refused to do despite being handed subpoenas.

The SEC lawsuit alleges that the House staffer, Brian Sutter, spoke with a lobbyist — identified by the Journal as Mark Hayes, who happens to be a former aide to Grassley — on the day of the leak. The suit alleges that Sutter was in touch with Hayes by both email and phone and that they discussed the upcoming Medicare policy change. Hayes then allegedly gave the information to a research firm, which distributed the flash that set off the trading, according to the SEC. A 2012 law, the Stop Trading on Congressional Knowledge Act, prohibits government officials from disclosing non-public information that could affect stock prices, the Wall Street Journal reported.

I assume Grassley will soon lose interest in these sorts of investigations.

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119 replies
  1. 1
    JPL says:

    Unfortunately, so will the MSM so no one will know the truth.

  2. 2
    Baud says:

    I still blame Obama.

  3. 3
    Mnemosyne says:

    I’m assuming Grassley didn’t know the true source of the leak before he made his accusations, because now he looks like a fucking idiot.

    Of course, he’s now going to claim that the Obama administration, like, totally set Sutter up for a fall to cover up their own malfeasance.

  4. 4
    Baud says:

    BENGHAZI!

  5. 5
    Tim C. says:

    Never seen a more perfect example of IOKIYAR in the media, watch the whiplash as the story disappears from the media.

  6. 6
    JPL says:

    @Mnemosyne: Do you think he cares? The media is not going to cover it. Although I heard about it initially, there has been no mention since.

  7. 7
  8. 8
    MikeJ says:

    @Mnemosyne:

    I’m assuming Grassley didn’t know the true source of the leak before he made his accusations,

    I’m assuming he did know the true source of the leak and now he can make it a he said/she said/this is all just political persecution/Obama is seeking revenge on me for trying to keep him honest.

  9. 9
    max says:

    @Baud: BENGHAZI!

    YEAH! It’s obviously a deliberate distraction designed by the Obama administration – they leak the info to the House Committee, the staffers talk about it and they had some donors pay some money to this Hayes dude to stand around and listen for the leak.

    max
    [‘I betcha Hayes met Vince Foster at some point.’]

  10. 10
    NotMax says:

    prohibits government officials from disclosing non-public information that could affect stock prices

    All information, whether public or non-public (and regardless of being true, false or, for that matter, rumored), could affect stock prices.

  11. 11
    Betty Cracker says:

    Hilarious!

  12. 12
    JPL says:

    @Betty Cracker: A close friend mentioned that her son might work for Scott. I was not kind. I mentioned that he should not wear a hoodie even if it rained. It really sickens me because although I knew they were big repubs, that is over the line.

  13. 13
    SiubhanDuinne says:

    @JPL:

    Done!

  14. 14
    elmo says:

    The excerpt doesn’t capture the rich irony of the next steps, though. As soon as law enforcement started sniffing around Republican Congressional aides, they started screaming Separation of Powers! Speech and Debate Clause! Executive overreach!

  15. 15
    Anoniminous says:

    Early innings (18% reporting) and Cochran’s ahead by ~3,000 votes. These are rural voters who I think would be more likely to vote Cochran than McDaniel. (correction requested)

  16. 16
    SiubhanDuinne says:

    @MikeJ:

    he said/she said/this is all just political persecution/Obama is seeking revenge on me for trying to keep him honest.

    You forgot “out of context.”

  17. 17
    a hip hop artist from Idaho (fka Bella Q) says:

    This is good news for John McCain.

  18. 18
    catclub says:

    @Tim C.:

    watch the whiplash as the story disappears from the media.

    It already had disappeared, and still has. Unless you think TPM is the big show.

  19. 19
    JPL says:

    @SiubhanDuinne: Oh thank you. I was getting a complex. US News and World Report panned the book but with so many good reviews, I wanted to go over the top. I just couldn’t mention the horrific conspiracies.

  20. 20
    Baud says:

    @JPL:

    because I have certain standards.

    Yet here you are.

  21. 21
    efgoldman says:

    The SEC lawsuit alleges that the House staffer, Brian Sutter, spoke with a lobbyist

    So that’s what he did after retiring from the NFL!

  22. 22
    Betty Cracker says:

    @JPL: Hopefully it will prove a miserable, demoralizing experience. Perhaps it will even be such a crushing defeat that the son will rethink his political loyalties!

  23. 23
    Anoniminous says:

    27% reporting and Cochran is ahead 55% to 45% (~ 6,000 votes.)

    Saw a report this thing will most likely be decided by a couple of thousand. Not looking like that at the moment. Still, it’s early.

  24. 24
    Baud says:

    @Anoniminous:

    They’re saying turnout is higher than last time, so maybe Cochran will pull this off.

  25. 25
    p.a. says:

    @Mnemosyne: those admin Obots- NO ONE uses a time machine better than them.

  26. 26
    JPL says:

    @Betty Cracker: I really can’t explain in this forum why this bothers me but it’s right up there with Carson’s comments about his mother being deserving. In other words I got mine and fu.

  27. 27
    Anoniminous says:

    @Baud:

    Wonder what the AA vote is doing. Cochran was pushing for them to cross-over and vote in the GOP primary. May be it worked?

    38% reporting 53/47 Cochran.

    rats

  28. 28
    JPL says:

    @Anoniminous: I don’t know what districts are Cochran’s or McDaniels so it’s to early to tell.

  29. 29
    Mike in NC says:

    John Oliver noted on his last show how Senators Hatch and Harkin have spent 20 years fighting the FTC and FDA on behalf of the lobbyist snake oil salesmen pushing diet supplements and other bogus products. Whores.

  30. 30
    SiubhanDuinne says:

    @Anoniminous:

    27% reporting

    There’s that number again!

  31. 31
    catclub says:

    @Anoniminous: where are you getting reports from? Only one I found was Clarion Ledger

  32. 32
    Baud says:

    @Anoniminous:

    It’s probably too much to hope that if Cochran wins, the tea party faithful will stay home in the general.

  33. 33
    Anoniminous says:

    @JPL:

    I don’t know either. Why I was hoping somebody from Mississippi would jump in.

    45% reporting. 53/47 Cochran with a ~6,000 vote difference. So the percentages look bad for McDaniel but the vote difference means Cochran isn’t running away with it.

  34. 34
    SiubhanDuinne says:

    @Baud:

    They’re saying turnout is higher than last time, so maybe Cochran will pull this off.

    That is just amazing to me, that turnout would be higher in a runoff than in the primary it’s running off from. I suppose it’s not totally unprecedented, but I don’t think I’ve ever heard of such a thing.

  35. 35
    Anoniminous says:

    @catclub:

    AP

  36. 36
    JPL says:

    I can’t believe that I’m watching Cochran’s returns. WTF has happened to us that we are hoping that Cochran wins.

  37. 37
    Baud says:

    On the plus side, if Cochran pulls it out, Eric Cantor is that much more of a loser.

  38. 38
    Roger Moore says:

    @Mike in NC:
    In fairness to Hatch, Utah is the center of the supplements business, so he’s just looking out for the local industry when he’s supporting them. So he’s only guilty of parochialism at the expense of the health of the rest of the country rather than outright corruption.

  39. 39
    NotMax says:

    The Palin- and Cruz-endorsed candidate in the OK Republican Senatorial primary goes down in flames.

  40. 40
    The Dangerman says:

    @Baud:

    BENGHAZI!

    SECURE THE BORDER!!

    ETA: I wish I knew what “secure the border” meant; unless you hire enough border patrol agents such that they’d practically be able to touch hands or turn the border into a landmined field, there is no way to “secure the border”. Fence? Give me a fucking break.

  41. 41
    Baud says:

    @SiubhanDuinne:

    It’s called voter fraud. Perfectly kosher when Republicans do it.

  42. 42
    WaterGirl says:

    @SiubhanDuinne: When I try to reply to JPL, it jumps me to the amazon review page. Oh well

    @JPL: I took you from 7/14 to 8/15 people found this helpful.

  43. 43
    efgoldman says:

    @Roger Moore:

    So he’s only guilty of parochialism at the expense of the health of the rest of the country rather than outright corruption.

    Guess he’s learned from the coal and oil state senators.

  44. 44
    Anoniminous says:

    @JPL:

    If Cochran wins the seat stays GOP. If McDaniel wins it throws it into doubt.

    That’s why I care.

  45. 45
    JPL says:

    @WaterGirl: Oh Thank you. I’m now at the top vs a five star. Since it’s my first
    review, I’m honored.

    haha

  46. 46
    efgoldman says:

    @NotMax:

    The Palin- and Cruz-endorsed candidate in the OK Republican Senatorial primary goes down in flames.

    Does it really make even a speck of difference?

  47. 47
    Anoniminous says:

    whoo-whoo!

    53% reporting 52/48 Cochran with a ~5,000 vote difference.

    Come on McDaniel (you f——g loon.) You can do it!

  48. 48
    SiubhanDuinne says:

    @WaterGirl:

    When I try to reply to JPL, it jumps me to the amazon review page. Oh well

    Yes, it did the same for me but then when I checked the “reply” box it had JPL’s coordinates all nicely set up. I either blame Obama or FYWP.

  49. 49
    catclub says:

    @Anoniminous: Plus, I think the next guess is that Cochran resigns in a few (one) years and Haley Barbour gets appointed. Childers may have a chance against McDaniel

  50. 50
    JPL says:

    @Anoniminous: I’m confused. The Repub will win and McDaniel will move the party further to the right. There is now overton window.

  51. 51
    Morzer says:

    If you want to follow the ongoing tallies for the Mississippi Battle of the Loons, you can find them here, with a map of individual counties linked to votes cast:

    http://www.clarionledger.com/l...../11330947/

    Latest figures: 58% reporting,Cochran up by roughly 7,300 votes.

  52. 52
    catclub says:

    60k-54k in favor of Cochran is now 82k-74k

  53. 53
    srv says:

    If Obama could have kept his hands off of Medicare this wouldn’t have happened.

    Kurds join the ranks of leaders bummed about Obama:

    The Kurds are trying to force the West to intervene again to protect them from the jihadi threat sweeping across the region. The Kurdish regional government’s autonomy is partly due to American and British intervention to provide military cover for their campaign against Saddam Hussein’s Iraq in the early Nineties after the first Gulf War.

    “I have completely lost hope in America after listening to President Barack Obama,” the head of Kurdish intelligence, Lahur Talabani, said.

  54. 54
    NotMax says:

    @efgoldman

    In that it erases another bit of the media-perceived worth of their endorsements, yes.

  55. 55
    JPL says:

    So 63 percent have reported and Cochran is still ahead but it hasn’t been called.

  56. 56
    Tommy says:

    @The Dangerman: My family came here in 1867. They braved an ocean to get here. Pretty sure if it is just a long walk, desert, a few rivers, they will keep coming. And to be honest I don’t blame them in the least.

  57. 57
    Belafon says:

    @srv: They were the only group benefiting from the no-fly zones.

  58. 58
    The Dangerman says:

    Mississippi returns also here:

    http://blog.gulflive.com/missi.....aniel.html

  59. 59
    Morzer says:

    62.7%, Cochrane’s lead down to ~6,900.

  60. 60
    Anoniminous says:

    @catclub:

    Cochran is one BBQ and Hush Puppy dinner away from a coronary. If he lasts six years he’ll be gone in 2020. Otherwise there will be a GOP appointee until 2020, making it tougher to swing the seat.

    @JPL:

    yeah. Fun isn’t it?

  61. 61
    GregB says:

    @efgoldman: But T.W. Shannon was going to lead the Repubs to a glorious victory.

  62. 62
    Morzer says:

    67.1% Cochrane’s lead back up to ~9,200

  63. 63
    JPL says:

    @srv: Actually Wolfowitz said if we only joined with the Kurds, every thing would be great. He didn’t use those words but it was close.

  64. 64
    Baud says:

    If Cochran wins, it will prove that insinuating rape of farm animals is a winning message.

  65. 65
    SectionH says:

    @JPL: “Liked.” Trying to reply to your comment kept taking me back to Amazon.

  66. 66
    catclub says:

    @Morzer: I have checked and some counties still at zero. Jones for instance, I rate as 60% McDaniel

  67. 67
    Morzer says:

    Sam R. Hall @samrhall · 56s
    Lincoln County comes out big for Cochran. He went from a 400 vote lead in the primary to a 2700 vote lead tonight.

  68. 68
    JPL says:

    @Baud: You missed the message, were they black or white animals. That’s McDaniels campaign.

  69. 69
    Anoniminous says:

    @Morzer:

    damn. It’s looking bad for the Loon.

    ETA: @catclub:

    I am heartened. ;-)

  70. 70
    Morzer says:

    @catclub:

    I make no claim to know the political geography of Mississippi. I’d be delighted if someone (hint, hint) would supplement my lack of knowledge here.

    Apparently Jones County is crucial, as that might give Loon enough votes to edge out Goatfucker.

  71. 71
    Morzer says:

    69.3% Cochrane’s lead holding at ~9,200.

  72. 72
    Morzer says:

    @JPL:

    Miscegenating animals, natch.

  73. 73
    JPL says:

    uhoh.. Politico has Cochran up by 4,000 with 72.7 reporting.

  74. 74
    Morzer says:

    72.7% Cochrane’s lead plummets to ~4,200.

    That’s with 68% of the key Jones County reporting.

  75. 75
    srv says:

    @Belafon: No No Fly Zones For Them! Ingrates.

    Actually, back in the day, a classmate’s bro-in-law flew F-16’s out of Incirlik. On the NATO side, they took off and patrolled the NFZ. On the other side, the Turks took off and bombed the Kurds.

  76. 76
    WaterGirl says:

    @JPL: I see that you are the most helpful critical review! :-)

  77. 77
    Hill Dweller says:

    OT: I know Gary Oldman’s wingnuttery was covered last night, but I saw a new excerpt from the same interview where he said Charles Krauthammer was “incredibly smart, fair, very savvy and politically insightful”.

    WTF?

  78. 78
    JPL says:

    Phew.. My man Cochran is up by 7,000 now. It might time to shower after saying that.

  79. 79
    Anoniminous says:

    @JPL: @Morzer:

    Yippie!

  80. 80
    Morzer says:

    75.8% and Cochrane’s lead is ~7,400, but Jones County still hasn’t reported fully.

    Apparently Hinds County may be saving Cochrane’s booty.

  81. 81
    catclub says:

    @JPL: yeah, looks like we will be up all night.

    @Morzer: The Delta Counties and Hinds county would be likely to give extra (i.e. courted Democrats) votes to Cochran. I guess if you go to the Politico page and compare the results from June 3 you could get some idea of changes. Given that Political Animal has basically been saying that the underdog does better and better in runoffs, (and so had almost written off Thad) this looks like Cochran is doing pretty well.

  82. 82
    WaterGirl says:

    @JPL: I thought we were supposed to hope for the wing nut in the hopes that the Democrats could win the seat against him, but not Cochran.

  83. 83
    WaterGirl says:

    Anyone know what’s happening with Crist in Florida?

  84. 84
    Morzer says:

    76.6% and Cochrane moves to a ~7,600 lead.

    Looking good for Senator Man-on-Farm Animal

  85. 85
    JPL says:

    Holy crap.. McDaniel is within 3500 … ugh 80 percent

  86. 86
    Morzer says:

    79.1% and it tightens again. Cochrane leads by ~3,600.

    Farm animals all over Mississippi are calling the U-Haul company as we type.

    Still roughly 1/3 of Jones County to go….

  87. 87
    JPL says:

    @WaterGirl: The Democrat can’t win.

  88. 88
    catclub says:

    Amusing note: There is a Forrest, Jeff Davis, Lee and Lincoln County in Mississippi

    Three traitors and liberator.

  89. 89
    The Dangerman says:

    @JPL:

    The Democrat can’t win.

    Well, perhaps if the Republican candidate gets caught with a dead girl AND a live boy.

    ETA: Nahhhhhhh,,,

  90. 90
    Morzer says:

    81.4% and Cochrane’s lead is up to ~6,200 again.

  91. 91
    Morzer says:

    Sam R. Hall @samrhall · 23s
    Cochran won Hinds by 5,300 votes in primary. Has nearly a 10,000-vote lead with 83 percent reporting.

  92. 92
    catclub says:

    @WaterGirl: Many of us are, but that is definitely a ‘Heighten the contradictions’ approach if McDaniel wins in the fall anyway. Thad is a devil we know.

  93. 93
    Morzer says:

    82.6% and Cochrane slips back to ~4,900 lead.

    1/3 Jones still to come, but also 1/6 Hinds.

  94. 94
    Anoniminous says:

    @JPL:

    In 2010 Mississippi had a 37% voter turnout. Given an amp’ed AA and Democratic turn-out and a slightly depressed GOP vote it’s possible for a Dem to win. Note I said “possible.”

  95. 95
    efgoldman says:

    @catclub:

    There is a Forrest, Jeff Davis, Lee and Lincoln County in Mississippi

    My daughter, SIL and granddaughter live at the intersection of Lee and Custis highways, within 7-8 minutes of Jefferson Davis highway, within sight of the Lincoln Memorial and the Pentagon.

  96. 96
    Morzer says:

    83.4% and Cochrane still ~4,900 lead.

  97. 97
    Morzer says:

    84.4% and Cochrane slips back to ~3,300 lead.

    Lost a little ground in Hinds county.

  98. 98
    divF says:

    @Morzer:
    Cochran has nothing to worry about. Haley Barbour is stuffing ballot boxes even as we type.

  99. 99
    Morzer says:

    @divF:

    I can see the record showing that A.N. Ass voted for Cochrane 75 times, while S.U.M. Goat voted for him 113 times.

  100. 100
    Morzer says:

    86.6% and Cochrane slips back to ~2,600 lead.

  101. 101
    william says:

    Grassely’s integrity is inversely related to ideological affiliation.

  102. 102
    Morzer says:

    Sam R. Hall @samrhall · 60s
    Something to watch. Lafayette County is Cochran’s home. With 83% reporting, he has only 530-vote lead. Won it with nearly 1,300 in primary.

  103. 103
    Morzer says:

    89.0% and Cochrane gallops to a mighty ~4,300 lead

    Starting to look as if Bestiality will just about hold off Lunacy.

  104. 104
    Tommy says:

    @Morzer: If this trend of the returns continues can you say recount.

  105. 105
    Morzer says:

    @Tommy:

    Well I can, but whether either of the Republicans can spell it without being spotted 6 letters I am not so sure.

  106. 106
    Morzer says:

    92.0% and Cochrane surges to a ~4,500 lead.

    I am telling you, he’s going to capture Baghdad any day now.

  107. 107
    Morzer says:

    92.3% and Cochrane leads by ~4,700.

  108. 108
    Morzer says:

    Still waiting for the last tranche of votes from Jones County, which might swing this back towards Lunacy.

  109. 109
    Morzer says:

    92.6% and Cochrane leads by ~4,900

  110. 110
    Tommy says:

    @Morzer: This is what I fear. Cochrane seemed to have called for African Americans to vote for him. I can only assume if the numbers you are posting hold McDaniel will assume those shifty “negros” changed the election. Want a recount. Rail that people voted twice. Then things will go sideways and get really ugly.

  111. 111
    TaMara (BHF) says:

    @JPL: I hate you just a little right now for making me wade into the septic tank, but for you, anything.

  112. 112
    Kay says:

    It’s even better.

    This is the STOCK Act.

    That’s the congressional ethics law that Eric Cantor watered down and his Tea Party opponent used that against him.

    They hoped to pin the whole corruption thing on Obama, I bet, because the Tea Party are breathing fire on insider trading in Congress.

    Now it’s back on them.

  113. 113
    satby says:

    @JPL: Also done.

  114. 114
    satby says:

    @Baud: I always laugh, even when you use that line on me.

  115. 115
    WaterGirl says:

    @satby: Up to 19/30 now. We were at 8/15 when I “liked” it 30 minutes ago. That seems like a lot of action for a book review, especially this late in the evening. But at least we’re gained ground and seem to be winning the fight for now.

  116. 116
    Kay says:

    Grassley promoted the STOCK Act and when Cantor removed a provision Grassley said the House GOP were “doing Wall Streets bidding” (he meant Cantor).
    Then Cantor got beat (partly for watering down the STOCK Act) and so now Republicans have to prove it’s Obama who is insider trading and not them.
    But that isn’t going too well, apparently.
    Especially for Grassley :)

  117. 117
    danielx says:

    I assume predict Grassley will soon lose interest in these sorts of investigations.

    Fixed.

  118. 118
    Mike in NC says:

    Why does anybody give a flying fuck what happens in a shithole backwater like Mississippi?

  119. 119
    boatboy_srq says:

    @The Dangerman: They’re looking for a piranha-filled moat, minefield, and 150′ high wall capped with razor wire and machine gun emplacements, all the way from San Diego to Brownsville. Think 38th Parallel, and add big gates on the west end so the tourists can get to Tijuana.

    Exactly what they’ll do for agro/menial labor if it’s ever built doesn’t seem to have occurred to them.

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