Governor Ultrasound is in serious trouble


220px-Bob_McDonnell_by_Gage_Skidmore

Once rising star and now plummeting bolide Gov Bob McDonnell, staunch neo-Christian wingnut who gained national infame pushing a law forcing poor pregnant women to submit to an invasive vaginal probe, may be in even bigger trouble than we thought. And we thought he was in pretty big trouble already:

WaPo — Maureen McDonnell, the first lady of Virginia, twice purchased thousands of shares of stock in Star Scientific, a spokesman for McDonnell’s legal team confirmed Friday night. The stock was bought and held in the same time frame that she and Gov. Robert F. McDonnell were taking steps to promote the dietary supplement company.

Spokesman Rich Galen said the first lady did not inform the governor either time she purchased stock, which Galen said she bought for herself and her children.

This is the same crowd who went bananas over Clinton’s commodity trading account and other investments back in the go-go 90s. Maybe the VA first Lady really didn’t tell him, but that would be incredibly stupid in any case and quite possibly illegal as hell, especially considering the alleged timing here:

Bill Burck, an attorney for the first lady, said she purchased 6,000 shares of Star stock on June 1, 2011. That was the same day she spoke at a gathering of doctors and investors in Florida and told them she supported the company and believed its new product could be used to lower health-care costs in Virginia. At $5.18 a share, the purchase cost Maureen McDonnell more than $30,000 and came just a few days after Williams had written a $50,000 check to the first lady.

By my old fashioned arithmetic, being paid 50k one day and buying 30k of stock the next nets 20k no matter what the stock does (And that 50k is just the beginning of the reported gifts and perks offered by the same guy to the McDonnells). In this case a stock with newish ticker symbol STSI (Used to be CIGX) has been more than cut in half on that reported buy price. If that’s the same one it sure hasn’t paid off. Then again I’m surprised it’s still trading at all, that somewhere, some people are still buying it, considering the allegations that have come out and been confirmed in one way or another. If I were a really suspicious guy, I’d start seeing if there was anyway to find out whose been buying that stock in quantity throughout this crisis, because it’s possible someone with deep pockets has been doing just that to try to support the price on behalf of powerful people who got suckered into it.

I don’t know how this will end up: Past performance is no guarantee of future returnstm. But when money gets lost, the livelihood of wealthy people is put in jeopardy because of it, and the terms plea bargaining or prison sentence make an appearance, that’s a powerful triple combo. Often times big dominoes start to tumble fast. It’ll be interesting to see which ones fall first and loudest here.

Comments

  1. jnorris says

    Gov Bob McDonnell is an icy lump of space dirt for sure. He will explode but it will not be spectacular, more like a damp fizzle as he sinks further into obscurity.

  2. machintelligence says

    Well I guess another shoe has dropped. For a fun (if you hate the Gov) summary, I recommend the following clip from the Rachel Maddow show. It has a summary of how he came by the epithet “Governor Ultrasound” and has a summary of his scandal as of about a month ago. The current candidate candidate for governor (Ken Cucchinelli — the bring back the sodomy laws guy) also took money and gifts from the same diet supplement company president.

  3. sezit says

    Yeah (head hang). I’m a Virginian, and I ashamedly and angrily admit that he is my gov. He has sucked in almost every way possible. He and his wife and family demonstrate how entrenched they are in hypocrisy – one standard for everyone but themselves. BUT! The repub guy on the ballot for this fall is Cucchinelli, who is our current VA Atty General. The Cooch is like McDonnell x 100 sprayed in Santorum. This is the guy that has tried to get laws against ANYBODY having consensual oral or anal sex, even tho the Supremes ruled against that as an invasion of privacy years ago. And, when it failed, he doubled down. AND he hates women, science, gays, and probably rainbows too. He is the closest thing to a true to life comic villain that I can imagine.
    I am shaking in my shoes that he might get elected. (and I’m volunteering for his rival.)

  4. machintelligence says

    Sezit @ 4
    You have my condolences. I hear the Democratic candidate is no great shakes either.

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