Many of the world of investing seem incredulous and angry (either at me or President Reagan) about the existence of the Plunge Protection Group. I am incredulous about another government program to use taxpayer monies to support shares in favored companies. Why have some of the healthcare companies’ shares performed so well in light of Trumpcare as Trumpcare will severely damage the industry? A short paragraph in the New York Times, front page of the business section, tells the story.
“The Washington consultant, David Blaszczak, and four other men were charged in an insider-trading scheme, accused of using confidential information about government financing to trade shares in the health care companies that would be affected by the changes.”
Yes folks the Trump administration is secretly using taxpayer money to support sectors of the market the prices of which might have reflected the devastation Trump is inflicting on these companies. There seems no executive order authorizing this. It doesn’t fit the stated purposes of the “Plunge Protection” program. What is it? A transfer of tax payer money to enrich the shareholders of healthcare shares at your expense. Who in the Trump administration engineered this one? Is it legal? The public needs to know.
P.S. Who has this information? Who trades this information? Who are the insiders?