Some Details On Congressional Insider Trading

 

U.S. Senator John Kerry of Massachusetts

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Big Government posted an article today showing documents it has obtained detailing some of John Kerry’s stock trades during the debates before the passage of Obamacare. Oddly enough, the trades took place in pharmaceutical stocks and were executed in such a manner to insure significant profits. Was he just a really good investor?

The article reports:

Sen. John Kerry’s position on the powerful Senate Finance Committee’s Health Subcommittee gives him direct access to critical information regarding health care policy. In July 2009, pharmaceutical industry representatives met with key members of Congress to flesh out the Obamacare bill. Then, in November 2009, with the bill’s passage was looking more likely, the Kerrys’ portfolios reflect a drug stock buying spree.

The article also cites some of the Kerry family’s trading during the negotiations on the prescription drug plan:

The Kerrys’ investment funds bulked up on:

  1. More than $500,000 of Johnson & Johnson
  2. As much as $1 million of Pfizer
  3. At least $200,000 in Oxford Health Plans
  4. Between $500,000 and $1 million in United Health Group
  5. At least $100,000 of Cardinal Health
  6. At least $240,000 of Merck

The result: after the bill was signed into law in 2004, some of the Kerrys’ investments were sold, which netted between $100,000 and $1 million from Oxford Health Plans, plus tens of thousands from Pfizer, Johnson & Johnson, and Cardinal Health.

Please follow the link to the article in Big Government to read the entire article and see the documentation of the trades.

This sort of behavior on the part of our elected officials is simply unacceptable.

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