Louisiana Judge Held RIG Stock; N.C. Rep. Mel Watt Holds BofA Stock: Which Is Worse?
Some of the more traffic challenged aggregators are going all aflutter with disclosure that the New Orleans judge who overturned Obama's impromptu decision to bar deepwater drilling held energy stocks as recently as 2008. As this was two years ago and took place in the gulf region, this seems like an earnest effort to create page views out of loud headlines, and nothing else. Static Chaos provides some additional sense on this issue. Not much to add here, suffice it to say, or rather ask: is it worse that a Judge may have owned under $15k in a potentially conflicted stock years ago, or that North Carolina Congressman Mel Watt, ardent supporter of all Fed endeavours, and a Representative who is currently under investigation for holding a fundraiser immediately after passing a materially watered down Fin Reg reform, not to mention prominent lobbyist of all sorts of banking interests (including those of home state based Bank of America) held and still holds between $15,001 and $50,000 of Bank of America stock (and between $1,001 and $15,000 in BB&T stock) according to his May 14, 2010 disclosure. This is a rhetorical question.