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'Such a Fortunate Coincidence': Trump Ally Carl Icahn Ditched Steel Stocks Before Tariffs Made Public


'Such a Fortunate Coincidence': Trump Ally Carl Icahn Ditched Steel Stocks Before Tariffs Made Public

Jessica Corbett, staff writer

Carl Icahn, a former special adviser to President Donald Trump, is facing allegations of possible insider trading after a federal filing revealed the billionaire investor started selling off millions of dollars in stock for a company that significantly depends on steel just a few days before the Trump administration started publicly considering a steel tariff, which the president officially announced Thursday.


Too rich to jail.


Have to say, I have a problem with how many progressives address tariffs. Without realizing it, the discussion often feeds into a right wing framing. That isn’t to say that these particular tariffs are good or bad for the macro-economy, but it seems that many progressives seem to ignore the important role that industrial tariffs played in our development, the development of most other developed countries, and the development of developing countries like China and India now. We allow developing and underdeveloped countries to put in place higher tariffs than developed countries in many trade agreements for a reason, and those countries do implement high tariffs for a reason, when given the chance.

I also think we have to keep in mind that we often critique the right wing for talking about how good the economy is by focusing on the stock market. We realize that what is good for the stock market is necessarily good for the rich, while not necessarily the case for the poor and working people. When analyzing tariffs, it makes more sense to analyze the macro-economic impacts, not what the rich do in their financial playground. I realize that the focus of this article is corruption, but I see some sloppy analysis by many progressives on this issue.

Just saying.


This is primarily not about the tariffs but about the immoral greed and inequality capitalism encourages.


I realize that. It was somewhat, but not entirely, off topic.


$cum, $cum, $cum - everywhere we look.


Will Martha Steward weigh in for she certainly went to prison or this this just an old boy permissible network of corruption?


No no see this guy is a professional trader. He’s just that good. You peasants wouldn’t understand. Nothing to see here, move along. /s


duh. there isn’t an oligarch that doesn’t traffic in insider info. two thirds of Congress does it, too.

but of course, it all just started with Trump, right?


she wasn’t in the club. she was the public sacrifice.


neoliberal Democrats are not progressive. Marching so gays can shoot peasants the same as straights isn’t progressive. I know you know this, obviously, but I refuse to call them something they’re not. Democrats are a right wing party, and so are their most devoted flock.


Trump implicated in insider trading…I am shocked, with his Sterling reputation this must be fake news…


The fleecing of America continues.


Icahn looks like a hollow man, doesn’t he?


Christ, is there any thinking person who honestly believes that Icahn didn’t get advanced warning? Has there ever been a more corrupt administration? Icahn, Kushner, Carson, our witless President himself and a whole host of other administration deplorables, not to mention their enablers and likeminded pos’ in congress–McConnell, Ryan and Grassley in particular. I keep reading articles from the alternate press about how scared the republicans are of the coming mid-term elections. Apparently not. They don’t even try to hide their greed or their contempt for the citizens of this country with an election a mere 8 months away. Maybe they think they will just milk the country and the peasantry dry and then tootle off to the quickly being privatized Puerto Rico to bask in the sun of their gated and fortified compounds. Gawd, what a bunch of venal, miserable excuses for human beings.


Oh my this really is a tangled web. Wag the tail and national security and all that.


The stock market must be abandoned by the people. You have to pay your taxes to the corporate government, but sure as hell don’t have to give them your money to play with in the markets.


I was just going to say the same thing! :o)


Icahn has always been both predator and parasite. Always destroyed, to his profit. I’m sure this is well beyond merely inside information. He probably dictated or all but dictated the tariff. Probably doesn’t even care whether it happens, just that it got his trade going.


It’s good (and profitable) to be part of the head moron’s court ain’t it?