There are strong laws on the books to prevent lawmakers in Washington from profiting from their jobs in ways that are not ethical. However, there are no laws on the books to prevent the families of lawmakers in Washington from totally taking advantage of their relative’s position. Peter Schweizer has written a book titled Secret Empire which sheds light on some of the unsavory financial activities of some of our politicians.
Yesterday Fox News posted an article about the book discussing how laws and regulations can be used to enrich friends and family.
The article lists a few specific examples:
Schweizer said the Vistria Group, run by Obama’s best friend, Marty Nesbitt, drove the for-profit school University of Phoenix into the ground and then swooped in to buy it.
“At this time the sons, or in one case, John Kerry’s close aide, are involved in businesses that involve multi-billion dollar deals with the Chinese government,” he said on “Lou Dobbs Tonight.”
Schweizer claims that 10 days after Biden flew to Beijing, his son, Hunter Biden, scored a $1.5 billion private equity deal from the Chinse government.
Senate Majority Leader Mitch McConnell and his wife, current US Transportation Secretary Elaine Chao, are also mentioned in the book. The book details the couples close relationship to China through Elaine Chao’s family.
The New York Post reported on March 17th:
As Schweizer tells it, the Chao family fortune derives from the Foremost Group, a shipping company that Chinese native James Chao, a classmate of former Chinese president Jiang Zemin at Jiao Tong University, founded in New York in 1964. Chao remains Foremost’s chairman today, and his daughters Angela and Christine are the company’s deputy chairwoman and general counsel, respectively. Elaine Chao worked there in the 1970s, and has been quoted as saying, “Shipping is our family tradition.”
It really is time to begin again in Washington. The only people who should be allowed to stay in Congress are people whose net worth has not increased more than 10 percent during their terms of office. (Of course then you could make the argument that they simply did not take advantage of the opportunities around them!)
At any rate, it really is time to drain the swamp (and to understand that both political parties are involved in the swamp).