Firenze Sage: Democrats drained the swamp? [Senator Kerry profits hugely from insider info]

Kerry’s trust largely derives from his wife, Teresa Heinz Kerry, an heiress to the Heinz food fortune.

First, $750,000 worth of stock in drug maker Teva Pharmaceuticals was added to their portfolios at around $50 a share. Once Obamacare passed, the value of the stock rose to $62 per share. Subsequently, in 2010, a portion of Teva holdings was dumped from the Kerry portfolio, resulting in tens of thousands of dollars in capital gains.

Next, at least $200,000 of stock in medical device manufacturer ResMed was purchased in the $20 to $25 per share range. After Obamacare passed, ResMed jumped to $34, an increase of as much as 71%. “ResMed was a winner in the health care reform legislation—as Reuters declared—thanks in part to John Kerryâ€s efforts,” says Schweizer. The reason: earlier versions of the Obamacare bill would have slapped companies like ResMed with an “industry fee” tax. Kerry opposed the higher taxes on medical device companies and helped delay the taxes until 2013.

Next, between $250,000 and $500,000 worth Thermo Fisher Scientific were added to the Kerry family portfolios at around $35 per share. After Obamacareâ€s passage, the stock skyrocketed to more than $50 a share.

Even as their portfolios reflected aggressive purchasing of drug company stocks, Sen. Kerry was dumping investments in health insurance companies. At the end of June 2009, all United Health shares were unloaded from their portfolios. Their Wellpoint stocks were also sold. Six weeks later, he then introduced an amendment to tax generous health care plans, a move sure to hurt companies like United Health and Wellpoint.

Throw Them All Out contends that Sen. Kerry is no stranger to making huge profits off of health care-related trading based on his rare access to information. “Some of [Kerryâ€s] biggest scores,” writes Schweizer, “were tied to his knowledge of obscure matters that had huge ramifications for certain companies.”

One such instance occurred in 2007, when the government was deciding whether an anemia drug made by Amgen would receive Medicare reimbursement. Before news of the congressional negotiations went public, however, the Kerrys†investment fund executed two perfectly timed stock sales. On May 4th and 7th, between $500,000 and $1 million worth of Amgen were sold off. The move helped him avoid between $50,000 and $100,000 in losses.

Another example of Kerryâ€s deft congressional trading happened in 2003 during the negotiations over the prescription drug benefit plan. Kerryâ€s Senate committee was in charge of the planâ€s oversight. In 2003, writes Schweizer, “a stunning 111 transactions of pharmaceutical companies and health insurance companies” were made to the Kerrys†portfolios.

The Kerrys†investment funds bulked up on:
More than $500,000 of Johnson & Johnson
As much as $1 million of Pfizer
At least $200,000 in Oxford Health Plans
Between $500,000 and $1 million in United Health Group
At least $100,000 of Cardinal Health
At least $240,000 of Merck

The result: after the bill was signed into law in 2004, some of the Kerrys†investments were sold, which netted between $100,000 and $1 million from Oxford Health Plans, plus tens of thousands from Pfizer, Johnson & Johnson, and Cardinal Health.
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Remember what Nancy Pelosi said: The deomocrats will drain the swamp. Senator fraudster is in the fight against the evils of Wall Street.
FirenzeSage48@gmail.com