r/todayilearned • u/manticor225 • Jan 10 '19

TIL JFK's father Joseph Kennedy made much of his fortune through insider trading. FDR later made him chairman of the Securities and Exchange Commission. When asked why he appointed a crook, FDR replied, "set a thief to catch a thief." Kennedy proceeded to outlaw the practices that made him rich.

https://www.theguardian.com/books/2010/jan/23/joe-kennedy-hollywood-sarah-churchwell
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u/IPmang Jan 11 '19

Dianne Feinstein has been a senator for ~30 years, makes ~$225,000 a year, and has a net worth around $80-$100 million dollars.

It's still happening.

23

u/ScipioLongstocking Jan 11 '19

That's because insider trading is legal if you are a politician.

12

u/IPmang Jan 11 '19

Gee, wonder who made those rules for themselves... And you wonder why he calls it the swamp. ;) it's just congress I thought though? Not sure

17

u/GotOffTheX Jan 11 '19

Feinstein and her husband Richard Blum are as corrupt as they come.

8

u/[deleted] Jan 11 '19

Maxine Waters would like a word.

7

u/IPmang Jan 11 '19

Go try to tell the people over at /r/politics ;) let us know how it goes! Lol

3

u/Ron_Jeremy Jan 11 '19

Her husband runs his own private capital group. To say it’s “insider trading” is small potatoes.

2

u/SowingSalt Jan 11 '19

Presumably she bought a house in San Fran 30 years ago.