If Character Counts,

        Bob Kerrey is Toast

      
NEGOP 402-475-2122                                                                                    October 23, 2012
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A Small Fortune Amassed Through Insider Trading?

Bob Kerrey Did Build That.

 

LINCOLN, NE - Bob Kerrey sure has a lot to say about grazing land these days, but history (and the New York Times) tells us Mr. Kerrey is far more interested in cattle.

 

During his previous term in the US Senate, Bob Kerrey continued to buy and sell cattle futures contracts for six months after taking a seat on the Senate Agriculture Committee.
 
Some called this a clear conflict of interest. Some called his behavior ethically questionable. Others called it a case of Kerrey "playing fast and loose" with the rules.
 
Today, we call it insider trading. And if character counts, Bob Kerrey has repeatedly failed that test for his own personal financial gain, to the detriment of his constituents.  
 
Perhaps Mr. Kerrey's 401K has suffered from President Obama's failed economic policies these last four years and he's in desperate need of hot commodities tips for his portfolio. 
 
In any case, Nebraskans should be very concerned that Mr. Kerrey wants his old job in the United States Senate simply to resume the abuses of power and insider trading schemes that made him an enormous sum of money during his first term in office.


"Sen. Bob Kerrey Continued Buying And Selling Cattle Futures Contracts For Six Months In 1989 After He Became A Member Of The Senate Agriculture Committee." (Robert Dorr, "Aide Denies Kerrey Conflict In Cattle Deals," Omaha World-Herald, 12/7/91, Para. 1). (J5)

 

"Kerrey's Financial Reports Show That Four Of His Cattle Contracts Each Exceeded $250,000. The Remaining Four Were In Amounts Between $100,000 And $250,000." (Robert Dorr, "Aide Denies Kerrey Conflict In Cattle Deals," Omaha World-Herald, 12/7/91, Para. 19). (J5) 

 

"He Was Trading On Almost The Same Days That The Ag Committee Was Hearing Testimony On Oversight Of The Commodity Futures Trading Commission And About Trading Practices In The Commodity Futures Markets. The Hearings Were Feb. 23, March 9, And May 17, 1989." (Bob Hoig, "Kerrey Traded Cattle Futures While A Senate Ag," Midlands Business Journal, 12/6-12/91, Para. 37). (J7)

 

"Leonard Miller, Past President Of Midwest Futures Of Norfolk And A Veteran In Trading Cattle Futures And Futures Options, Said 'A Definite Conflict Of Interest Occurs' When Ag Committee Members Trade On The Futures Market."  (Bob Hoig, "Kerrey Traded Cattle Futures While A Senate Ag," Midlands Business Journal, 12/6-12/91, Para. 10). (J7)

 

"'I'm Surprised That Bob Would Be Trading In That Volume,' Said John Hansen, President Of The Nebraska Farmers Union. 'Yes, It Really Kind Of Surprises Me.'"  (Bob Hoig, "Kerrey Traded Cattle Futures While A Senate Ag," Midlands Business Journal, 12/6-12/91, Para. 23). (J7)

 

"Sen. Bob Kerrey Quit Trading In Cattle Futures Contracts Six Months After Becoming A Senate Agriculture Committee Member In 1989 Although, He Said, The Trades Weren't A Conflict Of Interest." (Robert Dorr, "Kerrey Quit Futures Trading Months After Taking Ag Seat," Omaha World-Herald, 12/10/91, Para. 1). (J6)

 

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