Monday, December 25, 2017

The Last Decade Has Been One Big Self-Serving Merry Christmas For Crooked Bob Corker


We warned you all along not to count on rot-gut conservatives like Jeff Flake (R-AZ) and Bob Corker (R-TN) to stand up to Trump in any real way. Name calling is cheap; but when it comes to what really matters, they’re both full-fledged Trumpists. What I didn’t know is that Corker is really corrupt, more so then even your garden variety senator.

In the new Rolling Stone Matt Taibbi wrote that he “spent most of this past summer investigating Corker, whose personal finances have been an open scandal for years.” He offers the chart above showing that “Corker went from having an estimated net worth of zero [and burdened with debt] when he entered the Senate in 2007, to being (as of 2015) the fourth-wealthiest man in the Senate, worth $69 million. How,” asks Taibbi, “do you increase your net worth by 69 million dollars while you're working full-time as a Senator? That is not an easy story to explain.”
It wasn't until Corker took office and filled out disclosure forms that his finances became public— sort of. Few in the media seem ever to have read the "liabilities" section of Corker's first disclosure, where the former mayor and construction magnate listed a series of massive outstanding loans. At the low end, Corker appeared to owe a hair-raising $24.2 million. At the high end, $120.5 million.

He took office in debt to some of the nation's biggest lenders— including somewhere between $12 million and $60 million in debt to GE Capital alone.

Corker had been a construction magnate in Tennessee before taking office, a sort of mini-Trump. Before he ran for office, he sold off his business to a local developer named Henry Luken.

…Corker tested the limits of the profiteering possibilities in the legislative branch, essentially becoming a full-time day-trader who did a little Senator-ing in his spare time.

In the first nine months of 2007, Corker made an incredible 1,200 trades, over four per day, including 332 over a two-day period… By 2014, when Corker sat on the Senate Banking Committee, a position that gave him regular access to prime information about the future direction of the markets, the Tennessee Senator still had his foot on the gas. He made 930 stock trades that year.

…Corker's activities didn't go completely unnoticed. A few ethics groups cried foul over the years.

Anne Weismann, director of the Campaign for Accountability, which filed a complaint against Corker in 2015, described Corker's trading history in damning terms.

"Senator Corker's trades followed a consistent pattern," she said. "He bought low and sold high. It beggars belief to suggest these trades— netting the senator and his family millions— were mere coincidences."

One financial analyst I know said Corker's trading patterns looked more like the work of "an office of multiple analysts all grinding at least 60 hours a week" than like the work of "one guy moonlighting as a Senator."

When Corker took on Trump this fall— saying the White House was "an adult day care center" and that Trump's behavior threatened "World War III”— he suddenly became a darling of sorts in the liberal media.

Now he's a bad guy again, for reportedly doing what he's always done, acting in his own financial interest while earning a paycheck as a U.S. Senator.

The Corker story to me is a classic example of why it's always dangerous to overlook a politician's failings because he happens to be on the right side of some partisan debate at a given moment in time. The reason is obvious: these types eventually revert to form, and soon enough, a politician's flaws will be working against you again, rather than for you.

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At 2:55 PM, Anonymous Hone said...

Geez. So Corker is another sociopathic narcissist enriching himself at the expense of our country. Just like Bill and Hillary - they went from not much money to very rich in a very short time. Democrats are sure in on this travesty, too, which is why only Bernie is authentic. He's the real deal, a rare bird in Congress. These people use the stock market and banks for their own ends. Insider trading, hello. Huge loans from banks and then too big to fail, hello.

Not hard to see why politicians in general have always gotten such a bad rap. They deserve it! In the USA, it seems the majority of our politicians (ALL Republicans and many Democrats) are white collar mobsters who probably should be in prison for corruption. Wow, just like Trump! As disgusting as he is, it is now crystal clear that the bulk of Congress is no better. Only the young black kids go to jail in droves for minor offenses and then can't vote. Hmmm.

Our country is an embarrassment. Our democracy is becoming a sham. The American people have been living in a delusion and it is now over.

We are so screwed.

At 8:30 PM, Anonymous Anonymous said...

Again, laws have no meaning when nobody enforces them.

Who was president and who had majorities during most of this time? Why didn't the ethics committee look at him? Why didn't the SEC? Martha Stewart went to prison. Why didn't this guy?

Because for every corker there is a democrap or two who are either doing it or WANT to do it.

Hone, our country is a shithole. We're taking oligarchy lessons from the Russians these days. *AND* voters continue to be dumber than shit.

At 1:16 AM, Anonymous Anonymous said...

Hone has stumbled into the conumdrum first cited by the Roman poet Juvenal in his Satires, "Quis custodiet ipsos custodes?" Just as the Praetorian guard became corrupted and betrayed emperor after emperor based on who paid the better bribes, so it is with our Congress, very few of whom are more chaste than Caesar's Wife when it comes to political "contributions".

And as for stupid voters, they scream for someone to enforce term limits (and just WHO is going to take on that job at a price these sheep can afford to pay?) when they ARE term limits with their votes. They claim to follow Yeshua the Nazarene yet hate almost everyone who isn't themselves. Through this hatred, they are themselves used, abused, and maybe will eventually be enslaved. And by the time they finally figure this out, their chains should be very comfortable to them.

Bah-a-a-a-a-a! Humbug!

At 5:54 AM, Anonymous Anonymous said...

1:16, they'll never figure it out. some may finally realize their sphincter is awfully sore... but they'll never connect the dots. If they had the intellectual potential to decode all this, they would have done so already.

At this point, all who still follow lesser evilism do so out of religious faith and cannot be saved.

To paraphrase the late, great Molly Ivins, they may suspect they're being screwed but are incapable of discerning who is doing the screwing. Plus, I'm told, once you've been buggered daily for 30 years, you'd actually kind of miss it if they stopped. Your comfy chains analogy.

At 8:57 AM, Anonymous Anonymous said...

No wonder Corker retired

{A year ago, President Obama signed the Stop Trading on Congressional Knowledge Act into law at a celebratory ceremony attended by a bipartisan cast of lawmakers.

"I want to thank all the members of Congress who came together and worked to get this done," he said.

The law wouldn't just outlaw trading on nonpublic information by members of Congress, the executive branch and their staffs. It would greatly expand financial disclosures and make all of the data searchable so insider trading and conflicts of interest would be easier to detect} excerpted from-

At 6:43 PM, Anonymous Anonymous said...

At least I won't have to listen to Corker's southern whine any more. He has always given me the creeps and learning the truth about his self-enrichment only solidifies my disgust for him. Why do voters keep sending these losers to Congress? Pretty amazing.


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