Business

Author: Buffett May Have Been Involved in Congressional Insider Trading Scandal

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.

Peter Schweizer, whose book Throw Them All Out details Congressional insider trading, sat down with the staff of Business Insider to discuss Buffett’s part in this.

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:

Comments (108)

1 2 3
  • expatinontariocanada
    Posted on November 22, 2011 at 11:11am

    Hey Troll…you’ve commented/posted more in one day than I have in the past 3 months. And based on the tone of your comments, you’re a lefty loon. So let’s begin your education today (better late than never). Here’s your assignments…one to read (I think you can) http://tinyurl.com/6tm4tgm
    and one to watch and listen. http://www.youtube.com/watch?v=OAOrT0OcHh0&feature=youtu.be Now here’s the hard part…after reading, watching and listening, you’re going to need to THINK. Here’s a clue how to do that…it’s done with your head, not your heart. Please do it before it’s too late. Thanks.

    Report Post » expatinontariocanada  
    • Gold Coin & Economic News
      Posted on November 22, 2011 at 11:35am

      Really, Warren Buffett involved in insider trading? You mean the game is rigged? Tell me it isn’t so. No wonder the Sage thinks the rich should pay more in taxes, he‘s doesn’t mind “investing” a few million in taxes to the government for access to insider information that may have earned him hundreds of millions or billion. It’s all part of the game.
      http://www.congressinsiders.com/2011/11/congressional-inside-trader-nancy-pelosi-is-a-liar/

      Report Post » Gold Coin & Economic News  
    • Anonymous T. Irrelevant
      Posted on November 22, 2011 at 11:41am

      Doesn’t mind “investing” a few million in taxes? Could have fooled me by the lawsuit against the IRS.
      Personally, I hope they put the cheating gas bag in jail to rot.

      Report Post » Anonymous T. Irrelevant  
    • Ruler4You
      Posted on November 22, 2011 at 12:05pm

      We all KNOW he was handed a bone by the administration. “Secret” talks, content withheld. A few weeks later he announces a GIANT deal where he stands to make billions more? AND it’s sanctioned by the administration? Tell me that doesn’t reek of filth.

      Report Post » Ruler4You  
    • lillymckim
      Posted on November 22, 2011 at 12:24pm

      Add George Soros to the list of White House insider trading too

      Report Post » lillymckim  
    • TXPilot
      Posted on November 22, 2011 at 12:27pm

      For someone who has been foaming at the mouth for months, professing a need to pay more taxes to the government, it’s kinda making Buffet look a bit hypocritical to be fighting the payment of taxes he already owes. If you want to know who in big business and politics is a dirty liar these days, you can use one single word to determine it……..everyone!

      Report Post » TXPilot  
    • KingCanon
      Posted on November 22, 2011 at 12:51pm

      Just as GREAT is an overused superlative, EARNED is such an oveused verb these days. Nuf said!

      Report Post » KingCanon  
    • jb.kibs
      Posted on November 22, 2011 at 12:52pm

      leeches and ticks.

      Report Post »  
    • Morris
      Posted on November 22, 2011 at 12:54pm

      Buffett,Put 5-BILLION DOLLARS into “VISA” Stock,and in a day or two he made 5-MILLION DOLLARS PROFIT ON THAT 5-BILLION DOLLAR INVESTMENT!
      Sure is nice to be sleeping with Dictator Barack Hussein Obama,He can give you information
      to grow your bank account over nite!

      America, There is nothing going on or Corruption in our Whitehouse???????

      Remember when Dictator Obama was elected into office,He said that his Administration will have
      no Corruption of any kind,and that his office would be a “TRANSPARENT” Administration?????

      Guess this is just another one of Dictator Barack Hussein Obamas lies!

      America, This Dictator Obama Administration will go down in our History is the BIGGEST MISTAKE,
      EVER MADE BY THE PEOPLE OF THE UNITED STATES OF AMERICA!

      America, “WE THE PEOPLE” Must IMPEACH this “MISTAKE” That we have made,Don,t wait until
      2012 to vote Dictator Obama out of office IMPEACH him NOW.

      GOD BLESS AMERICA.

      Report Post »  
    • JRook
      Posted on November 22, 2011 at 3:09pm

      The shear ignorance of people here never ceases to amaze me. People …. every investment banking group has day traders in the back room who do nothing more than manipulate the market. Investment banks and wealthy individuals can, by their very trades, influence the market. Who do you think sits on corporate boards? What you think they don’t talk to each other about what is going on. Wall St. works for themselves and the big money. Certainly not the average American, equity fund or the country. You have no idea how many trades occur between firms that are not revealed to the trading public.

      Report Post »  
    • JRook
      Posted on November 22, 2011 at 3:19pm

      I hope Buffet uses a billion or 2 to sue this guy into the afterlife.

      Report Post »  
    • korbin
      Posted on November 22, 2011 at 4:29pm

      I make about 34$ hr with great benefits. I have worked and payed taxes since I was 12 about 30 years. I filed an extension for taxes this year as I am scared of what I will owe basically postponing the inevitable. I feel like a bad person even though I have no loop holes no attorney to skip me through the loophole process. I am a new father and have a CCW, point of that was to show I am a law abiding citizen and family man. The IRS scares me to no end and I know how to brawl, shoot effectively and consider myself self sufficient. I feel like a little girl when it comes to the IRS how sad is that. Yet all congress and higher up Government officials including people like Buffet aren’t concerned one bit. Why is that, they are in charge of our lives essentially and have total control, I have seen how brutal the IRS can be and its worth being scared about. Does anyone agree WE THE PEOPLE doesn’t include congress, mayors, senate, Irs etc etc, they are all power abusive ABOVE the law, we “little honest people” don’t have a chance because we have a conscious. WOW Please watch video at democratsagainstagenda21.com I am trying to do my part to awaken the masses this left wing carpet munching tree nugget democrat is very helpful with her movement from the democrats side to wake us up on the issue of agenda 21. Thats my plug.

      Report Post »  
    • Mil-Dot
      Posted on November 22, 2011 at 5:21pm

      Buffet is a crook just like any other goon that seems to magically “call” the market. They are not calling the market, they are cheating. Simple as that. Oracle of Omaha my ass.

      Report Post »  
    • US Citizen
      Posted on November 22, 2011 at 7:41pm

      They’re redistributing the wealth alright….from all of us to them!

      Report Post »  
  • jrcess
    Posted on November 22, 2011 at 11:03am

    Lock the old bastard up for 20 years and throw his partner in crime Obama in with him.

    Report Post »  
    • CatB
      Posted on November 22, 2011 at 11:09am

      And Congress .. anyone with a stock portfollio that made money while it was stolen from the rest of us .. should go too!

      TEA!

      Report Post »  
    • Anonymous T. Irrelevant
      Posted on November 22, 2011 at 11:43am

      Agreed! For a looong time and not minimum security.

      Report Post » Anonymous T. Irrelevant  
  • AmeriCat
    Posted on November 22, 2011 at 11:01am

    Warren Buffett involved in Congressional Insider Trading Scandal?
    No surprise.
    We’ve been waiting a long time for this to be revealed…
    It takes a courageous person to throw TRUTH in the face of Buffett

    Next…look at the company Buffett keeps….
    And…who takes care of Buffett’s Personal money?…..Bill Gates!!!

    Whoops…Bet Bill Gates Foundation is dripping with SCANDAL!

    Report Post »  
    • Detroit paperboy
      Posted on November 22, 2011 at 11:06am

      Wow and we all just thought he was really smart all these years… The orafice of Omaha

      Report Post »  
  • cyclops
    Posted on November 22, 2011 at 11:01am

    Controlling information is power……

    Report Post » cyclops  
  • 762x51
    Posted on November 22, 2011 at 10:56am

    How do you think old Whoren Buffet got away with not paying a billion dollars in taxes he owed while whining that he doesn’t pay enough in taxes? This dirt bag is Michael Moore without the hat.

    I need 100,000 heavily armed volunteers to take the Congress, by force of arms, and cart them ALL off to prison. We then replace them with all new people who are are all limited to ONE term. That is the only way to break the cycle of corruption.

    Report Post »  
    • CatB
      Posted on November 22, 2011 at 11:12am

      Get the new people by a random pick from the voters lists …it was said that a random sample from the phone book but many people no longer have a home phone … a random sample from people who actually vote should do it.

      TEA!

      Report Post »  
    • Anonymous T. Irrelevant
      Posted on November 22, 2011 at 11:44am

      AND, they should be tax payers!

      Report Post » Anonymous T. Irrelevant  
    • korbin
      Posted on November 22, 2011 at 5:02pm

      I think it’s coming to that. I will die for my daughters freedom. Ronald Reagan said it best, ”

      “FREEDOM is never but one generation away from extinction. We didn’t pass it to our children through our bloodstream, it must be fought for, protected and handed on for them to do the same.”

      Report Post »  
    • thruthewormhole
      Posted on November 23, 2011 at 5:24am

      I think your idea is great (getting 100,000 to overthrow and install one term “citizen politicians”) but how are you going to tear that many people away from their precious football games? I swear when Osama’s troops come to take their homes, their only question will be “hey, did you guys catch last nights game?”

      Report Post »  
  • drewder
    Posted on November 22, 2011 at 10:50am

    This would be why he wants to support Obama’s Tax plan to keep access to the info.

    Report Post »  
    • JLGunner
      Posted on November 22, 2011 at 10:59am

      This is why the American people have no faith in our government anymore.

      Report Post » JLGunner  
  • byehlik
    Posted on November 22, 2011 at 10:45am

    At some point we, the American people, are going to realize that elections are not going to purge the corruption that is government. Their friends such as Buffett and many others are in bed with these crooks. At some point, we will have to abolish our government and start anew. It has been throughout history the only way to tear out the corruption is by eliminating by force the perpetrators. Yes, that means civil war. 2012 can not get here fast enough, but even with that eventuality, if the blatant corruption is not stopped, a civil war may not be avoidable.

    Report Post » byehlik  
    • OutOfTheAether
      Posted on November 22, 2011 at 12:10pm

      As I perceive it, what you are proposing here is materially no different than our OWS bunch. Is there corruption? obviously. Can it be removed? I think we can, if enough of us are determined enough (and patient enough) to do so using the system that is in place. We need to have more honorable people willing to step up to the plate and serve their community/state/nation. We’re seeing this same type of shenanigans in the county I live in, and we’re fighting it within the system…and we’re winning. Let’s not throw the baby out with the bathwater, shall we?

      Report Post » OutOfTheAether  
    • Mil-Dot
      Posted on November 22, 2011 at 5:42pm

      Yeah OUTOF, but at least what he is proposing is affiliated with honesty, and goodness and patriotism and all that is right about America. We cannot as a nation take much more of this blantant criminal activity on the part of our elected officials. The American people will take care of business one way or another eventually. It is inevitable.

      Report Post »  
  • Rajabear1
    Posted on November 22, 2011 at 10:30am

    NAW!!!! This can’t be! Say it ain’t so!!! Buffet is an honorable man! NOT!!! This is exactly why they want to implement this BS called ‘buffet rule’. If you think it doesn’t institutionalize huge money for buffet and people like him and shut the door for prosperity for the rest of us, your head is buried in the sand. Just like bailouts are institutionalized for the banks and many other things that will f–k over the average American in chris-dodd.

    Report Post »  
  • bassist237
    Posted on November 22, 2011 at 10:27am

    Gee really?

    Report Post » bassist237  
    • db321
      Posted on November 22, 2011 at 10:44am

      Yea but he wants to pay more taxes as soon as he catches up on a few years,

      Report Post » db321  
  • jakartaman
    Posted on November 22, 2011 at 10:26am

    We HAVE to take back OUR country in 2012 or
    kiss it goodbye

    Report Post »  
    • momsense
      Posted on November 22, 2011 at 11:26am

      Absoluteely correct or there will be No 2016 !

      Report Post »  
    • abbygirl1994
      Posted on November 22, 2011 at 12:55pm

      So stop being led by the media, for they have picked their candidate already for us and we are being led like sheep.. Lets demand more questioning from Bachmann and Santorum.. I want to hear from them more and Mitt and Gingrich less.. God elp us!

      Report Post » abbygirl1994  
    • Give Me Newt Or Give Me Death
      Posted on November 22, 2011 at 5:42pm

      Exactly. Things are not looking good.

      Report Post » Give Me Newt Or Give Me Death  
  • Rickfromillinois
    Posted on November 22, 2011 at 10:24am

    Gee, another of Mr. Obama’s buddies and large contributors using the Federal Government to get some sweetheart deals. Why would anyone be surprised.

    Report Post » Rickfromillinois  
  • Rickfromillinois
    Posted on November 22, 2011 at 10:23am

    And you are working to promote idiocy.

    Report Post » Rickfromillinois  
  • Free2speakRN
    Posted on November 22, 2011 at 10:21am

    It’s all about power. So, rule the world, lose your soul. In the end, you lose.

    Report Post »  
  • RichNGadsden
    Posted on November 22, 2011 at 10:20am

    I think that Buffett is being exposed as this banana is slowly being peeled one piece at a time. Fortunately for him Eric (The Red) Holder will be there to come to his aid and slap the SEC on the hand for daring to actually do their jobs for once.

    Report Post » RichNGadsden  
    • BlazingBlonde
      Posted on November 22, 2011 at 1:28pm

      That will not happen, Holder will never prosecute any wrongdoings by his master’s masters.

      Report Post » BlazingBlonde  
  • ddg7
    Posted on November 22, 2011 at 10:16am

    I’m not surprised by this. In a recent CNBC interview with Betsy Quick, Buffett made a comment where he said, ‘Bernanke whispered/whispers in my ear’. I thought that was a strange comment at the time but based on this story it was spot-on.

    Report Post »  
  • 13th Imam
    Posted on November 22, 2011 at 10:09am

    You are thinking about Jimmy Buffet. He is the singer and had nothing to do with DEMOCRAT INSIDER TRADING with Warren‘s bud’s in the Whitehouse. Please remove your head from your bum.

    Report Post » 13th Imam  
  • YoungBloodNews
    Posted on November 22, 2011 at 10:01am

    SHILL SHILL SHILL YOUR BOAT RAPIDLY OFF THE FALLS

    Get your MONEY OUT NOW! The house of cards is getting too heavy….

    And when asked why he had burned Moscow, the most beautiful city in the world, he wrote “It Illuminates my soul”… ;)

    Report Post » YoungBloodNews  
  • Mandors
    Posted on November 22, 2011 at 10:00am

    A Wall Street Journal reporter gets prosecuted for 10b(5) securities fraud for trading against what he’s going to write in his column, but Buffet does the same all the time, trading from on his public comments which he knows will effect the market, and nothing?

    Report Post » Mandors  
    • smokeysmoke
      Posted on November 22, 2011 at 10:06am

      and when george soros comes out and says SELL YOUR GOLD… and he is BUYING UP ALL OF THE GOLD…. seems to be the same thing…

      Report Post » smokeysmoke  
  • Mandors
    Posted on November 22, 2011 at 10:00am

    “Through the tax code, there has been class warfare waged, and my class has won” Buffet is right but the war wasn’t against the poor. It was against the real middle class–the ones with jobs, and the upper middle class professionals trying to make it to the next level. By equating for decades the Buffets and the Gate’s of this world with a small business or couple making $250K a year, Congress kept the rich, rich and punished the hard working trying to get ahead.

    Report Post » Mandors  
    • nostromo
      Posted on November 22, 2011 at 10:05am

      You hit the nail on the head. We are on the way to destroying the private sector middle class and reverting to the two class system of the rulers and the ruled.

      Report Post »  
    • cemerius
      Posted on November 22, 2011 at 10:09am

      The great equalizer is the 2nd Amendment…..once that is abolished then we REALLY have to worry!!

      Report Post » cemerius  
  • ozchambers
    Posted on November 22, 2011 at 9:59am

    THERE is your true 1% OWS. The corrupt ones in bed with a corrupt government up to their chins, not the average businessman on Wall Street.

    Report Post » ozchambers  
    • cemerius
      Posted on November 22, 2011 at 10:10am

      Yes and at that level it trancends Republican/Democrat!! But we will be fed that BS line over and over so we do not see the true evil is BOTH parties!

      Report Post » cemerius  
  • smithclar3nc3
    Posted on November 22, 2011 at 9:57am

    I say anyone in who has done this with in the statute of limitation be it in congress or other wise should be brought up on charges and have their assets seized .

    Report Post »  
  • rienheart
    Posted on November 22, 2011 at 9:57am

    If he did the Crime, He needs to do the Time. With all the rest of the Crooks, Liars and Thieves in the Government.

    Report Post »  
  • MistaB
    Posted on November 22, 2011 at 9:55am

    I’m shocked!!

    Report Post »  
  • gdbhusker
    Posted on November 22, 2011 at 9:55am

    first person to say they are shocked by this…is the first loser!!!! you don’t get to the money level this clown has, without insider biddings, and back room deals….and these are the idiots who tell us they only want to pay more taxes and make things fair!!! whatever…..

    Report Post » gdbhusker  
  • louise
    Posted on November 22, 2011 at 9:53am

    Just lovely. Not surprised though

    Report Post » louise  
1 2 3

Sign In To Post Comments! Sign In

Sign Up For Our Newsletter!

Glenn Beck Radio

Listen to Glenn Beck 24/7 Listen Now
Restoring Love