Knowing how bills are going to effect business and legally being able to use that knowledge does have its advantages. As most every Fed politician knows from experience.
trump’s Truth Social company posted its new financials to the SEC.
The firm generated just $4.1 million (with an M) revenue for all of 2023, while racking up $58 million in net losses.
Market cap is > $6 billion. Notice that rather prominent -$40 million in debt… who would be lending money to trump Media?
And even more indicative — the “change in fair value of derivative liabilities” that padded their 2022 balance sheet to make the numbers look favorable
Derivative liability refers to the legal responsibility for a wrong that someone else has the right to seek compensation for. – A main driver in shrub’s recession.
DJT stock is nothing but a money laundering financial fraud lawsuit waiting to happen.
I guess the MAGAt controlled House will pass legislation to eliminate Congressional insider trading. Then, all they would need it two Senate Democrats to vote for it.
There used to be a rule… or at least “gentlemen’s agreement” that when serving (☜note that word) in congress, one would not make use of insider knowledge to unfairly profit in the stock market. Ditto for Presidents. Ah, those were the days. Though I do think my memory of them makes them seem better than they really were: Money = power have always attracted folks for whom “gentle being” was a title, not a description.
I’d be a lot happier if we went back to requiring folks in Congress (and up the chain) to put all their investments in a blind trust. But I honestly don’t see a way to get there from here… without bloodshed anyway.
To succeed in life you either win the Powerball (manage your money well if that happens and it better be the big prize), work for the government or become a politician. If you are a private citizen then you better be wary of going to college. It is better to get 2 years of college and a professional certificate rather than do 4 years of college and a degree.
J.D. Vance ran and got elected to the Senate for two reasons: 1. Get wealthy; 2. Place partisan MAGA-GOP followers in government employee jobs, in order to highjack the government.
I’ve always wondered why liberals were referred to as the left, and conservatives were referred to as the right. Then I found this bible verse. “The heart of the wise inclines to the right, but the heart of the fool to the left”. Ecclesiastes 10:2
Frankfreak 30 days ago
Knowing how bills are going to effect business and legally being able to use that knowledge does have its advantages. As most every Fed politician knows from experience.
dotbup 30 days ago
trump’s Truth Social company posted its new financials to the SEC.
The firm generated just $4.1 million (with an M) revenue for all of 2023, while racking up $58 million in net losses.
Market cap is > $6 billion. Notice that rather prominent -$40 million in debt… who would be lending money to trump Media?
And even more indicative — the “change in fair value of derivative liabilities” that padded their 2022 balance sheet to make the numbers look favorable
Derivative liability refers to the legal responsibility for a wrong that someone else has the right to seek compensation for. – A main driver in shrub’s recession.
DJT stock is nothing but a money laundering financial fraud lawsuit waiting to happen.
rs0204 Premium Member 30 days ago
There is a lot of truth in this cartoon.
braindead Premium Member 30 days ago
I guess the MAGAt controlled House will pass legislation to eliminate Congressional insider trading. Then, all they would need it two Senate Democrats to vote for it.
Right?? Right????
Al Fresco 30 days ago
How do you get rich if you a president? Write a book, start up a foundation, and charge sky-high honorariums for speeches.
Ontman 30 days ago
So Varvel will run for the House or the Senate?
Concretionist 30 days ago
There used to be a rule… or at least “gentlemen’s agreement” that when serving (☜note that word) in congress, one would not make use of insider knowledge to unfairly profit in the stock market. Ditto for Presidents. Ah, those were the days. Though I do think my memory of them makes them seem better than they really were: Money = power have always attracted folks for whom “gentle being” was a title, not a description.
I’d be a lot happier if we went back to requiring folks in Congress (and up the chain) to put all their investments in a blind trust. But I honestly don’t see a way to get there from here… without bloodshed anyway.
Radish the wordsmith 30 days ago
Congress writes the IRS rules for corporations and rich people.
Jack7528 30 days ago
True they are exempt from insider trading laws. Term limits now.
Kurtass Premium Member 30 days ago
How to go broke in the stock market, buy Truth Social stock.
codak 30 days ago
someone should investigate these crooks
2AndFour 29 days ago
To succeed in life you either win the Powerball (manage your money well if that happens and it better be the big prize), work for the government or become a politician. If you are a private citizen then you better be wary of going to college. It is better to get 2 years of college and a professional certificate rather than do 4 years of college and a degree.
tpcox928 29 days ago
J.D. Vance ran and got elected to the Senate for two reasons: 1. Get wealthy; 2. Place partisan MAGA-GOP followers in government employee jobs, in order to highjack the government.
FJB Premium Member 29 days ago
I’ve always wondered why liberals were referred to as the left, and conservatives were referred to as the right. Then I found this bible verse. “The heart of the wise inclines to the right, but the heart of the fool to the left”. Ecclesiastes 10:2
Holden Awn 29 days ago
The word ‘earn’ on the monitor is a misnomer.
FredBurr 29 days ago
Our political leaders have no interest in us. Just themselves, their families, friends, and donors.