They Say that the Fish Rots from the Head Down by Andrew Bard Schmookler

[Demeter]

http://www.opednews.com/articles/opedne_andrew_b_051103_they_say_that_the_fi.htm



'"Dear Reader, A former U.S. Senator from Oklahoma has access to information other investors will lie, cheat, and steal to acquire," this mailing began. "Why? Because this man served on the Energy and Natural Resources Committee. They oversee all federal oil, gas, electricity and water regulation....the strategic petroleum reserve, and Federal coal, oil, gas, and mineral leasing. During his tenure in Congress, this Senator owned a clutch of energy-related stocks --including ConocoPhillips, and oil shipping and support firm Tidewater, Inc. Shares in these companies during that time went up 2,696% and 1,118% respectively." ...

The mailing goes on to tell me that this former Senator from Oklahoma isn't alone. No, there's a much broader pattern here, it goes on to show, listing one member of that committee after another, and explaining what a killing each has made in energy-related stocks. I notice in particular what they tell me about my former senator, George Allen, from when I lived in Virginia. "n the last five years, the son of Football Hall of Fame coach George Allen, Sr. has owned big-gainers like Fording Canadian Coal Trust (up an astounding 710%) and Centerpoint Energy (up 237%)."

The mailing ventures a generalization: "Powerful politicians have an incredible track record of getting into rich investments at exactly the right time," it tells me. And it backs this up, citing a Georgia State University study (covering the years 1993 to 1998) that "found that the stock investments of U.S. Senators beat the performance of corporate insiders by 2 to 1..."

What kind of juicy reading, you may wonder, was I expecting to come out of that fat envelope? I must be reading some lefty Naderite pitch to come across this litany of corruption, right? Well, actually, no: this is a mailing from an outfit that produces investment advisory newsletters-- and the kind of juicy stuff I expected was that maybe they thought China would allow the yuan to float, or maybe there's some biotech company that's got a new wonder-drug to treat cancer. Who knew this investment advisory outfit would be presenting this vivid description of corruption in the chambers of America's legislators?

Level upon level of corruption. "


http://nonesoblind.org/

Andrew Bard Schmookler has just launched his website – nonesoblind.org —devoted to understanding the roots of America’s present moral crisis and the means by which the urgent challenge of this dangerous moment can be met. Dr. Schmookler is also the author of such books as The Parable of the Tribes: The Problem of Power in Social Evolution (SUNY Press) and Debating the Good Society: A Quest to Bridge America’s Moral Divide (M.I.T. Press). He also conducts regular talk-radio conversations in both red and blue states. Schmookler can be reached at [e-mail]


READ ON FOR A SICKENING EXPOSE

[DavidDvorkin]

1. It's a great saying, but is it true?

I've been hearing it for years, and I love seeing it applied to rotten outfits like the Bush gang. But I've always wondered if it's true?

Surely a fish starts rotting in different places, depending on a variety of conditions, just like any other dead thing. (Clearly we're talking about dead fish, not live ones!) Surely it doesn't always start rotting at the head.

Just wondering.