Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer

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Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer

Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer


Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer


Download PDF Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer

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Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer

One of the biggest scandals in American politics is waiting to explode: the full story of the inside game in Washington shows how the permanent political class enriches itself at the expense of the rest of us. Insider trading is illegal on Wall Street, yet it is routine among members of Congress. Normal individuals cannot get in on IPOs at the asking price, but politicians do so routinely. The Obama administration has been able to funnel hundreds of millions of dollars to its supporters, ensuring yet more campaign donations. An entire class of investors now makes all of its profits based on influence and access in Washington. Peter Schweizer has doggedly researched through mountains of financial records, tracking complicated deals and stock trades back to the timing of briefings, votes on bills, and every other point of leverage for politicians in Washington. The result is a manifesto for revolution: the Permanent Political Class must go.

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Product details

Hardcover: 240 pages

Publisher: Houghton Mifflin Harcourt (November 15, 2011)

Language: English

ISBN-10: 0547573146

ISBN-13: 978-0547573144

Product Dimensions:

6 x 0.8 x 9 inches

Shipping Weight: 1.1 pounds (View shipping rates and policies)

Average Customer Review:

4.6 out of 5 stars

372 customer reviews

Amazon Best Sellers Rank:

#100,906 in Books (See Top 100 in Books)

The title of this review provides a humorous take on Peter Schweitzer's findings and tone.This book is organized by methods that elected officials and others connected to them can legally earn more money. I never imagined anything like this, that's how naive I must be.Schweizer addresses this question: How do some top politicians exit office with millions more than credible based on their salaries and perhaps some patient investing? Nobody that I know of has taken on this question until Throw Them All Out was published.Many legally enrich themselves through earmarks, real estate deals, securities violations, trading on inside information, self-dealing with stimulus funds and literally every budget item. That's a brief summary. It's not all politicians though.

Reading this book is a must. I must warn you that the swamp is deeper, wider, and longer than you ever thought. The swamp is the government and it is well entrenched. This countries only hope is that enough people will read this book, most importantly vote intelligently and throw all the bums out ,on both sides of the isle. Progressives is just another word for communist. If we are not careful, we will lose control forever and this country is finished. Please wake up and understand what is at stake.

I wish this could be required reading for every American who casts a vote in the next federal elections. I am really tired and weary of these self serving politicians. Author takes no political sides. He goes after congress regardless of party. It is difficult to say which is the most disgusting instance of the corruption in Washington. It is at the very core. There seems to be no one or very few there to represent their country. Their insider trading just absolutely is incredibly disgusting. At a time when our country was days from financial ruin, some members were day trading to make profit on the market falling.I cannot urge you enough to read this book.

I finished reading this book during the first week of March, 2013 with sequester and nomination of cabinet secretaries for energy and environment. Applying Peter Schweizer's analysis, I see that the fix is in. The nominees already have their links to campaign (presidential) contributors and to corporations/projects which expect to receive government grants and "loans". While unethical and immoral, but not illegal, investors use insider info to "bet" and buy low, wait for the IPO and government grants/loans, then sell high before the project files for bankruptcy. The taxpayers pay off what the government chipped in and lost. The big investors are likely to be elected officials and their cronies. The author finds enough evidence (e.g. dates of Congressional meetings and subsequent investments by members of Congress and their cronies) in public documents to support his analysis. He cites his sources. The ordinary person with a few dollars to invest becomes a pawn. This corruption makes me sick.Crony capitalism and the permanent political class undermine the public policy of our constitutional republic.Schweizer proposea a simple solution. Hold everyone to the same standard. NO ONE may pass on non-public information. NO ONE may receive insider information and trade on it. Legal sanctions apply. PERIOD. The author points out that the USA has no clear definition of insider trading, except as defined by court action over time. The USA Congress must be held to tough disclosure and conflict-of-interest standards. The last chapter contains more ideas for correcting the mess. The final two sentences summarize, "If you want to get rich, do it the legitimate way. Go out and produce a useful good or service that you have a right to sell."

Read the book and then get violently sick at how the political class engages in a legal transfer of taxpayer money to themselves. Examples are given for both Republicans and Democrats, but the concentration is on the recent past of 2007 on. Because of this, more examples are given of what can only politely described as graft during this period of a Republican and Democratic president and a Democratic majority in Congress. Given that both were equally likely to engage in personal enrichment through political connections, more Democrats than Republicans are mentioned because there were more Democrats than Republicans. The author does give examples from earlier periods in which there was a Republican majority and Republicans were involved. He also provides an example of this practice by the present Speaker of the House. The author digs fairly deeply into the largesse that the "Stimulus Plan" brought to various individuals including Warren Buffet. Nothing done in this book is illegal under the law for the political class. If you and I as random taxpayers did it though, we would get a fast visit from the SEC for trading on non-public information. This book is one of the strongest arguments I have seen for term limits. Buy it, read it, get sick about how the political class of both parties are ripping you off.

Like everything Schwitzer writes, this is full of information for the average person who hasn't been into politics. Makes you realize why politicians enter their job with a middle class wage then come out multi millionaires and makes sure they get reelected. It names names like Pelosi and those under Obama and past presidents. Quite an education for the man on the street.

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Throw Them All Out: How Politicians and Their Friends Get Rich Off Insider Stock Tips, Land Deals, and Cronyism That Would Send the Rest of Us to Prison, by Peter Schweizer


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