Discussion: <span class="s1">AP Finds Tea Party Congressman's Stock Flipping 'May Test' The Law

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Discussion for article #236123

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Well gee, if he only got a 4.6% return on his investment in a single day, it’s hardly worth noticing. (rolls eyes)

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Typical Republican. “Rules for thee, but not for me!”

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IOKIYAR

Same as it ever was.

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Typical Tea Party thinking: it’s not the rule that matters, just the investment return.

Very similar to the basic Republican precept: breaking the law only matters if you get caught.

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It is much more likely that he got IPO shares because he had a large account balance than because he was a member of Congress.

Still, IPO shares that are “available to the public generally” are almost always ones you shouldn’t buy.

I would say that, if the broker (or anyone further up the chain to the underwriting investment bank) who made the shares available exercised any discretion in deciding who they would offer shares to, the purchase would be a violation of the law.

Clawson’s spokesman, James, told The Associated Press that the opportunity to invest in SolarEdge’s initial public offering was available to any investor with an account at the same brokerage as Clawson.

“It has ‘public’ right there in the name,” James said.

Clawson should look for a less-smarmy spokesperson.

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Republican Law #101: “Its OK when WE do it!”

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The Repubs replaced their coke abusing Representative with a down to earth multi-millionaire inside dealing scumbag.

Teabaggers aren’t the brightest bulbs in the closet.