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America’s Lawyer: AOC Torches Republicans And Democrats
Posted
June 16, 2022
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June 16, 2022
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39:20Now PlayingAmerica’s Lawyer E08: Dozens of members of Congress have been caught violating the Stock Act in the past year, but so far nothing has been done to stop this massive problem, and we’ll tell you the very obvious reasons why. And the defense industry is begging for permission to send even more high tech weapons to Ukraine – and the corporate media is helping them make that push. All that, and more is coming up, so don’t go anywhere – America’s Lawyer starts right now.
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.
Hi, I'm Mike Papantonio and this is America's Lawyer. Dozens of members of Congress have been caught violating the Stock Act in this last year. But so far nothing's been done to stop it. It's a massive problem and, and we'll tell you about it. We'll tell you the obvious reasons they need to get it under control. And the defense industry, well, they're begging for permission to send even more high tech weapons to Ukraine and the corporate media seems to be helping make that push. All that and more it's all coming up. Don't go anywhere, America's Lawyer starts right now.
The public has been calling for a ban on congressional stock trading for months now, but so far virtually nothing's been done about this growing problem. Ring of Fire's Farron Cousins joins me to talk about this and many other issues today. Farron, as I look at this, we've been, I guess we've been doing this story for a long time now, saying why don't they do something about it? It's almost like they're trying to run out the clock, isn't it?
It, it, it really is because this has been an issue, you know, really in the last year it's picked up. People finally started paying attention because I think we had a total of what, 126 members of Congress.
Yeah.
From the House and Senate that have violated this.
Yeah.
Using the knowledge that they've got from these bills to trade stocks.
And the numbers are staggering, frankly.
Yeah, it really is.
The, the, the money that they're making, talk about some of the issues. You, in other words, they know that something's gonna go on with drilling and then they go energy stock. They know something's gonna happen with a war, they buy defense stock. Isn't that kind of happening?
Yeah. It's, it's exactly right. When they're crafting these budgets, essentially, especially the defense budget they know. Okay. Well Raytheon is about to get $2 billion from the government.
Mm-hmm.
I'm gonna go ahead and make the phone call to my broker, say, hey, let's uh, pick up some Raytheon here. They're about to get a big thing. And that is a violation again of the Stock Act. But the Stock Act, it, it basically carries a $200 penalty if you violate it, but they're making hundreds of thousands of dollars. So it's just a $200 fee to do business.
If you had that kind of insider information and you weren't in Congress that can put you in prison, can't it?
Oh yeah. For a very long.
Is there, is maybe, am I missing something? Is there anything different here?
No. And, and as far as we can tell, this really is insider trading. You have knowledge that is not available to the general public that is directly going to affect the stocks of these corporations and you're using that money, or that knowledge, to make money for yourself. That is textbook insider trading. But when you're in Congress, they let you do it for, you know, the $200 fee.
Well, both Republicans and the Democrats are saying that it's Pelosi who is stonewalling this.
Yeah.
And then it brings in this story about her husband who is like a stock trading maniac, made millions trading stock. What's your take on that?
Yeah. I, I think at the end of the day it does come down to Pelosi. You know, she is the one in charge.
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