billionaire collects. that s it. congratulations. your country is now a former soviet corruptstan and the ruling family would like to see you right now. this is textbook banana republic corruption. people taking government jobs that then they use to make themselves rich in the private sector. the thank s actually most unnerving about the karl icahn story is how in the hope it s been happening. reuters made this chapter showing how the credits dropped. trump named and epa director who shares carl icahn s views and the white house announced that he will have an official role as an adviser and the credits dropped a little more and then a new biofuels regulation plan conceived by karl icahn was
icon started betting as a refinery owner himself, he started betting that the price of those credits was going to drop. and that was weird. nobody had ever really shorted those things before in the market. nobody had ever made a big multimill dollar bet that the price of the credits was going drop. but karl icon did. why did he do that? well, turns out that karl icahn was going to be named donald trump s special adviser on regulatory reform. and after he got that adviser gig, he set about advising the president to do things that would drop the price of those credits. so then he could collect on that otherwise mysterious a typical bet that he made that those credit would get cheaper. it sounds complicate fd you don t follow short selling and market stuff like this all of the time. but it s a simple and jaw dropping thing. billionaire bets on the market
private lawyer, i would tell him he should not have accepted that preshl adviser title. consider that advice taken retro actively. this is the defense. this sin credible. the white house and karl icahn are now pretending that never happen. that he was never appointed to anything in the trump administration. he never had that title. honestly this is their defense. the white house tells the new yorker that karl icahn never had a quote formal appointment or title after inauguration day. never had it. they re saying this never happened. president-elect donald trump names karl icahn special adds visor to the president on regulatory reform. that is their own press release. they re saying this never happened. no way. why would you think that this happened? why would you think he had been named a special regulatory adviser to president trump? why would you think something so
delivered to the white house and the price of those credits dropped more. every time that happened, that bet that he made was getting better and better. if you made that bet a few months back that the value of the credits would drop, yeah, you made a prettily good bet but it looks like your actions as part of the trump administration are what made that bet turn out so well for you. this is just textbook. in the months after trump s election the stock price of karl icahn s company which directly benefitted from the dropping price of the credits, the stock price of his refinery company nearly doubled. that s hundreds of millions of dollars for karl icahn. but now karl icahn is out, he resigned as regulatory adviser of the president last week, resigned moments before the new yorker published this bombshell piece detailing, and i mean
mcconnell either wanted the story out or he didn t object to it because clearly the people were free to talk to the times about this. that should send a signal to donald. the problem is he is not sophisticated enough to get the signal. so this i really do think this is a very important story. when you add in the zinke development and the development about kyle icahn, because what happens is if we have someone who isn t technically a federal employee, which may be the case with icahn, but they act as if they are, does our legal system have a way it effectively take care of that. corn el, david just mentioned who feels like team mcconnell sourcing on this new york times report. there is another intriguing possibility about the source williing of this. this is one of the first big bomb shells to come out in the routine we are used to with the new york times and washington post. first big one to come out since