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Throw Them All Out Hardcover – November 15, 2011
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Amazon Exclusive: A Q&A with Author Peter Schweizer
Q:When did you realize that so many insider trading and sweetheart land deals were going on?
A: When I first discovered that members of Congress are exempt from insider trading laws, I didn’t believe it. Then, when I started to look at their stock trades and compare them with what they were doing in office, I was stunned.
Q: What do you mean by the "Permanent Political Class"?
A: I think politics in Washington has become a business opportunity. Republicans and Democrats are not so different as you think. They work together to enrich themselves. They have designed the system to work so that they can make lots of money doing things that would get the rest of us sent to jail.
Q: What do you mean by "honest graft"?
A: When people think of politicians making money in Washington, they think of bribery and other illegal activities. That’s small potatoes. The real money is made by doing stuff that’s legal, including insider trading on the stock market and land deals.
Q: Politicians are exempt from insider trading laws? You’re kidding, right?
A: No. They write the rules, and guess what: the rules that apply to us don’t apply to them. By the way, they are also exempt from whistleblower laws. If you see your boss committing a financial crime, you can report them and you will be protected. You can’t be fired. But if your boss is a congressman? You’re toast. You are not protected.
Q: What’s wrong with politicians who trade stock? Don’t we want them involved in the economy?
A: Yes, but they are doing exactly what corporate insiders get sent to jail for doing. It’s a double standard and it’s unfair. If Martha Stewart had been in the U.S. Senate, she would have been protected.
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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.
Schweizer comes out swinging and goes the full twelve rounds without breaking a sweat. Now the winner of the match will be determined by the judges; the American voter. While the majority of working families watched the stock market dive, rise, and then drop drastically again, those hard working families could do nothing but keep their fingers crossed and hope for the best. A small minority had faith in their government to halt the [sic] out of control market. And while steps were taken to do so behind closed doors members of Congress were enriching themselves buy investing according to insider information. While country was on fire our elected officials were stocking up on marshmallows, sharp sticks, and seasoned lumber. It was party time and every official showed up with their investments.
"Throw Them All Out" is the first step to put in to motion the reciprocal swing of the collective pendulum and get it to swing harder, faster, and higher away from the collectivism that plagues our nation. These people have a vested interest in chaos. While the country rides along the razor's edge, with collapse on one side and prosperity on the other, those tasked with upholding the Constitution are too busy buying options, earmarking projects to boost their real estate investments, etc.
Step one is admitting you have a problem. And there is no more thorough explanation and admission of our potentially deadly problem than Schweizer's book. You wont regret this purchase.
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."
Most recent customer reviews
Backed up with 'real facts' and resources.