Senate Majority Leader Bill Frist, a potential presidential candidate in 2008, sold all his stock in his family's hospital corporation about two weeks before it issued a disappointing earnings report and the price fell nearly 15 percent.I hope there is a real investigation into this matter. You know, so much of the wealth of the ruling class is from unearned income. The stock market is legal gambling, you know. You put your money on 7 and hope the dice roll the way that makes a profit. All in the name of "growth". Another way to say "growth" is fattening the wallets of the fat-walleted blokes. Or "sprawl" is another way to put it, as in an expanding Walfart means more stores which means more sprawl. It's like neo-Marxism for the business elites- you know conformity, everything looks exactly the same, no matter which burb you are in.
Of course, I am simplifying things, but I get tired of the anti-regulatory mouths out there crying because "their" money is being taken from them and then mumbling something about inciting class warfare every two seconds when you call someone out for cheating. Money gained from stocks is money unearned; it is money gained by gambling. Yes, just as people can be skilled in the art of poker can they be skilled in the art of stocks, but if you lose, you lose. Why do those with so much wealth feel inclined to cheat to get more of what they don't need? (And why can't they ever be happy with what they have?)
Keep in mind, I am not saying I oppose the stock market; it's quite the contrary. I just think those who only have one interest in life, business, need some perspective. Just like cheaters get what's coming to them in gambling, so should insider traders.
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