5 ms·
Financier Who Amassed Insurance Firms Diverted $2B into His Private Empire
- atdrummond 8y agohttps://outline.com/P2hakC https://outline.com/P2hakC
- hprotagonist 8y agoContext: he was indicted on multiple counts of campaign fraud yesterday to the tune of several million dollars. Rep. Mark Walker is likely implicated as "Public Official A" in court documents. Robin Hayes, the chair of that state's GOP party chairman was also indicted yesterday in the same probe. https://talkingpointsmemo.com/dc/north-carolina-gop-chairman-indicted-as-scandal-continues-to-grow https://talkingpointsmemo.com/dc/north-carolina-gop-chairman... has a copy of the indictement documents embedded on the page; not sure how to link them directly.
- atdrummond 8y agohttps://wwwcache.wral.com/asset/news/state/nccapitol/2019/04/02/18300306/lindberg_indictment-DMID1-5ibzqsqem.pdf https://wwwcache.wral.com/asset/news/state/nccapitol/2019/04...
- T-A 8y agoMatt Levine's take on it (tl;dr: "I don't know!") from March 1: https://www.bloomberg.com/opinion/articles/2019-03-01/insurance-is-where-the-money-is https://www.bloomberg.com/opinion/articles/2019-03-01/insura...
- atdrummond 8y agoI'm surprised Matt didn't mention that this is one way BRK amplifies their results.
- jpmoral 8y ago“Guy buys insurance company and invests its float in his other business ideas” can describe a scam, but it can also describe Warren Buffett.
- Latteland 8y agoThis whole scenario just seems to follow the rich businessman influence industry. When people start investigating you too closely, then take over or influence the agencies investigating you. Start by giving tons of money to your party leaders. Then step by step get regulators replaced or co-opted.