So you think the Congressional insider trading scandal is bad, right?
It might get worse.
Similar to some members of Congress, billionaire philanthropist and market speculator Warren Buffett has allegedly been using an “informational advantage” to make bets and investments on the market.
The man who once said, “Through the tax code, there has been class warfare waged, and my class has won,” might have been investing in the markets with information that only he and a select few had been given access to.
If this is true, and Buffett was given said information simply because of his close partnership with the government, then this could explain some of his mysterious third quarters investments, specifically his investment in IBM (he rarely, if ever, invests in technology).
For those unfamiliar with the Congressional insider trading scandal, see Blaze Editor-in-chief Scott Baker interview Peter Schweizer on GBTV to get a better idea of the whole story: