AP uncovers Allen stock scandal.

Posted byWaldo Jaquith 4 Comments on AP uncovers Allen stock scandal.

My goodness gracious — the Associated Press has caught Sen. Allen in a stock options scandal. Bob Lewis has discovered that Allen violated both SEC regulations and congressional rules. TPM speculates that Allen will deny that he’s ever used the phrase “stock options” and then insist that it’s just a term he made up on the spot.

Published by Waldo Jaquith

Waldo Jaquith (JAKE-with) is an open government technologist who lives near Char­lottes­­ville, VA, USA. more »

4 replies on “AP uncovers Allen stock scandal.”

  1. It would be a bigger scandal if he’d actually “profited” from the stock options instead of losing money on them.

    In this instance I do believe his excuse:

    Allen’s office said he did not report his Commonwealth options on his past five Senate disclosure reports because their purchase price was higher than the current market value. Allen viewed them as worthless and believed in “good faith” he did not have to report them…

    It doesn’t even rank close to the Cheney/Haliburton relationship on the corruption meter.

  3. I believe “in good faith” that we are screwed if we start making different sets of rules for some people (like Allen), while others are punished and/or fired.

    I advocate that last item for George Allen, that he get fired. He has not proven that he is worthy of being re-hired by the people.

    By the way, great point, Janis.

  4. Janis Jaquith wrote:

    Kinda like the Whitewater “Scandal.”

    Yeah, exactly. That was a bunch of nothing too. Republican’s trying to make a big deal about something that wasn’t and never should’ve been (and because they didn’t really have anything else to make waves about).

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