Clinton's dump their stock holdings for cash

WASHINGTON (AP) - Bill and Hillary Rodham Clinton liquidated the contents of their blind trust upon learning it contained investments of $5 million to $25 million that could pose conflicts of interest or prove to be embarrassing to her presidential campaign.
source

Reading the article I can see how their hand was forced, but why didn't they reinvest the money in another blind trust? Me thinks that they don't have any faith in the economy or the stock market. I don't believe that they need the money for the presidential campaign. They're both pulling in the dough between speeches and fund raising dinners. A good bet is that they're privy to some information that the average joe isn't.

Insider trading on a national scale? I don't know if there's an official rule on this or not. Keep an eye out for more stories of other senators dumping stocks for cash just in case.

[edit on 18-6-2007 by dbates]

This reminds me a bit of their involvement in the INFO USA scam of the elderly, etc etc.

I agree with your comment about them having knowledge that others don't. Knowledge about events that will effect the stock market. I think all the upper-level politicians in this country have 'extra knowledge' of one type or another.

They don't control the stock market, but many times they know what is going to happen that could effect it.

Originally posted by dbates


Reading the article I can see how their hand was forced, but why didn't they reinvest the money in another blind trust?

that would still leave a social/political angle which could be spun by
the media...
as in ? does the blind trust only invest in "green" businesses?
?does the replacement trust concentrate on "ethical" stocks, or 'moral" stocks, or 'healthcare', 'anti-tobbacco/anti-handgun/etc stocks...??

there's just no way to satisify every constituent, in every way...
so maybe they're pulling out of the markets but investing the cash
into private hedge funds
or joining with private equity investors that are busily taking a lot
of corporations 'Private'...there's a lot of that going on with high profle
groups like 'The Carlyle Group'
maybe the clintons are putting a good chunk into that sorta thing,
with a promise of a guaranteed return rate but with bonus returns if
the ventures turn out to be even more profitable because of Bills'
ability to pursuade others to legislate rules that would benefit the
Groups bottom line

well, something in that general direction.....

Originally posted by dbates
A good bet is that they're privy to some information that the average joe isn't.

As ex-president, Clinton will be entitled to continue to recieve security briefings, so there may be plans afoot in the White House...sanctions or other punitive actions against Iran perhaps? Or another IDF summer war/vacation as mentioned in yesterday's Sunday Times?

Personally I believe there to be a "crash" or correction coming. The Market is trading on basically nothing, by that I mean, I don't see the results to justify the prices of stock. Companies that are losing money are trading at a good clip; and there is a lot of debt out there with a slew of acquisitions happening. And, you also have the Fed pumping money into the system and we could see something like with the housing bubble because most stocks right now are way overvalued. I'm an investor and I while I like that my investments are making money what seems hand over fist, nearly 25% in fact, but I still don't like the market at the current time being; it is almost as if it is getting a head of itself. Now I'm not saying a huge crash, but at least somewhere in the 10-15% range and it might not be all at once, I'd think over a two week course would be most likely.

The crash of the U.S. economy has begun.
It was announced the morning of Wednesday, June 13, 2007, by economic
writers Steven Pearlstein and Robert Samuelson in the pages of the
Washington Post..in an article titled ~The Takeover Boom About to Go Bust~

Obviously the Clinton's read newpapers and are preparing for the worst......
The fact that the crash is now being announced by the Post shows that it
is a done deal.
The Bilderbergers, or whomever it is that the Post reports to,
have decided. It lets everyone know loud and clear that its time to
batten down the hatches, run for cover, lay in two years of canned food,
shield your assets, whatever.



[edit on 18-6-2007 by theRiverGoddess]

Originally posted by ChrisJr03
Personally I believe there to be a "crash" or correction coming.

The next market crash was predicted by Russian economist Nikolai Kondratieff



The market has been artificially propped-up for too long by the Fed' and other fiancial institutions, and when the trading in debt becomes more lucrative then trading credit, you don't want to be left holding the 'Old Maid'

The big news about this is how the Clintons continually bash Wal-Mart and Big Oil, yet they made huge money off of their stock.

But hey, I'm sure they feel your pain! Feel your pain, while they fattened their wallets.

interesting. we should watch everyone on the campaign trail then.

i'm starting to get a feeling that a lot people that see the future of the OIL economies are going to do something save their assets. i keep hearing on late night AM that OIL doesn't have much time and Ethanol isn't the solution either.

cash is cash, easy to trade for anything even other cash in some other better traded currency.

my friends have been pressuring me to buy gold since i can remember....

i'm more interested in waterpoweredcar.com and how much it will cost me to convert my car over to hydrogen. screw big oil and all their money.

their time is up and other people are starting to see it too.


/doesn't care much for the clintons
//.02

Originally posted by TheExaminer
i keep hearing on late night AM that OIL doesn't have much time and Ethanol isn't the solution either.

*cough* shameless plug *cough* I was thinking just the same thing. I wonder if they're seeing a downturn in the economy? I wish we could track their money and see if they traded it in for Euros or something. Cash is a convenient way to hide your intentions.

[edit on 18-6-2007 by dbates]

This is getting a little too real when people said it won't happen..I might convert some money to euros

Originally posted by Sntzaow
This is getting a little too real when people said it won't happen..I might convert some money to euros

Don't convert to Euros - convert to gold bullion! History has taught us that just prior to a big – or World War that those in the know cash in their stock for gold bullion.

Gold is the only currency that is universal. If the US economy crashes, then the rest of the world will follow suit very quickly. No cash currency is robust enough to weather a storm instigated by the NWO.

Believe me, when economies crash, systems crash, societies crash and the only thing that is worth anything is good old gold – it’s been the way for thousands of years.

Originally posted by WatchNLearn

Originally posted by Sntzaow
This is getting a little too real when people said it won't happen..I might convert some money to euros

Don't convert to Euros - convert to gold bullion! History has taught us that just prior to a big – or World War that those in the know cash in their stock for gold bullion.

Gold is the only currency that is universal. If the US economy crashes, then the rest of the world will follow suit very quickly. No cash currency is robust enough to weather a storm instigated by the NWO.

Believe me, when economies crash, systems crash, societies crash and the only thing that is worth anything is good old gold – it’s been the way for thousands of years.

Thanks for the advice, where can I obtain gold bullion..Im 17 but I have all intent to survive and protect those dear to me.
Thanks

If you want to survive buy a gun an ammunition. HAHAHAHA. But actually, stay out of debt. I'm selling off some of my assets for cash; I'd prefer to not lose it all. I'd feel like a fool telling my parents this and watching them lose it all just like so many others. I don't think it's going to be a total collapse, just a huge hit, like 20% or so max. That would take the Dow to around 10,500 or so which is where it probably should be. And to the Rivergoddess, I did read that article, but the warning signs have been here for some time now. Day after day I watch my stocks go up, even the ones I know shouldn't and it makes me wonder why they are going up, especially when some of the companies are losing money and spending it when they don't have it. If the American economy collapses or takes a hit, the rest of the worlds would too, meaning that the Euro would be effected in some way. Remember when China's market hit a snag? Our economy took a hit on that just as the worlds did so buying into Euros might not help you. Normally gold isn't a good thing to invest in, it really doesn't make money, and if you hold it when no one else has it, you'd better be ready to defend yourself from crazed people who will do what they have too to feed themselves and their families.

The article doesn't say they aren't planning to reinvest the money. I would be willing to bet that they are, but will need to take some time to pick a new advisor. I don't believe that there is any requirement for them to hold a blind trust now that he's no longer president, although it is a move that would be perceived well given Hillary's candidacy for president.

Originally posted by disownedsky
The article doesn't say they aren't planning to reinvest the money.

It doesn't appear that they will be investing this money in the stock market. How do we know? They put the funds in a cash account. If they're willing to pay capital gains tax on the income, then they're done for now.

The report said all the proceeds of the sales are being placed in a cash account. The massive unloading of stock means the Clintons face large capital gains taxes.

They could have simply rolled the money over into another blind trust if they wished. Doesn't look like they are going to be doing that in this case. Stories of rich politicians dodging taxes are legendary. Why would they decide to bail and pay taxes at this time?

[edit on 19-6-2007 by dbates]

dbates,

The Clintons have had a history (or at least the appearance) of getting alot of inside information for ??? insider access. Hillary having never invested in commodities made 200000+ her first and only time she invested. Having known many people who worked the market, they remain steadfast they get alot of insider tips instead of outright campaign contributions etc.

They also could be going to cash for political reasons. I know trusts are supposed to be blind, but you never know when information is leaked etc.

They may also be reading the tea leaves and forecasting a economic slump down the road. She may also be measuring the impact of her agenda if she wins.

I do not want to turn this into a political right versus left debate, but the Clintons are among the shadiest people I have ever seen. IMHO all politicians are crooks on some level but they seem to be the cream of the crop.

"The massive unloading of stock means the Clintons face large capital gains taxes."

Depends on how long they held their investment. Long term capital gains are taxed much less than short term.

Short term capital gains have them taxed with rates up to 35%. This is if they held the positions for less than a year.

Long term capital gains have them taxed at only about 15% (which isn't bad, considering how much income they probably take in overall).

Moreover, "cash" can be slightly misleading. They probably mean a money market. And they'll probably be in some municple money market to avoid federal and state taxes on interest/dividends. High yielding muni money markets haven't been paying that bad of a yield - 3-4% (especially considering they don't have to pay taxes on them). AND being in a money market does not take you out of the market. They, too, are exposed to market risk. If the market crashed, they too would lose their "cash" in the trust account.

I'm not too sure why they "looked" into their "blind" trust, as they shouldn't be personally responsible for whatever they were invested in; it wasn't their choice to begin with. And their advisor seemed to do them well - while they were invested in "evil" corporations, at least those investments did well.

ChrisJr03...... I don't think your joke about guns and ammunition is that far off the mark. In the event of another major terrorist attack guns and ammo could be the most valuable commodity left. There is a lot of talk of larger terrorist attacks to come. I've read numerous articles that have said that there are numerous suitcase nukes already in the US. In the event of an attack of that magnitude people will be using their gold to buy guns and ammo. I know there are a lot of guns out there already but even people that own guns have limited ammo. If you have a gun what do you have ,maybe a half box of ammo....that isn't going to go very far.
It is a really pessimestic view I know but I also think is a strong possibility.

I think your "joke" may be more valid than you realize.

[edit on 19-6-2007 by duster]

Well if people here have stocks in an unsure area take them out.

I guess we should follow all the other senators and see what
that are doing.
Are there any good news sites where you can check that kind
of stuff? Or is it by luck?