Democratic Senators call for probe into Icahns biofuel credit dealings

[bucolic_frolic]

Source: Reuters

Eight Democratic Senators on Tuesday asked U.S. regulators to launch an investigation into billionaire Carl Icahn’s activities in the U.S. biofuels blending credit market, saying the activist investor may have violated securities trading laws since becoming an adviser to President Donald Trump.

“We are writing to request that your agencies investigate whether Carl Icahn violated insider trading laws, anti-market manipulation laws, or any other relevant laws based on his recent actions in the market for renewable fuel credits,” the senators said in a letter to the heads of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Environmental Protection Agency.

The letter, a copy of which was seen by Reuters, was signed by Democratic Senators Elizabeth Warren of Massachusetts, Sheldon Whitehouse of Rhode Island, Sherrod Brown of Ohio and five others. The letter acts as a request, and the agencies are not required to act upon it.

Icahn became an unpaid adviser to Trump on regulation shortly after November's presidential election. In February Icahn proposed a change to the U.S. biofuels program that would ease the regulatory burden on oil refining companies - including CVR Energy Inc (CVI.N), in which he owns a majority stake.

Read more: http://www.reuters.com/article/us-usa-biofuels-icahn-idUSKBN18522R

[Wellstone ruled]

1. About Feakin time!

BTW,Icahn owns Navistar Truck Company,and,most of their Trucks are made in Mexico.

Pays to be a close personal friend of the President.

[BumRushDaShow]

2. Icahn also bailed Drumpf out of the Taj Mahal in AC

and then eventually sold it after workers went on strike to protest no contract, cuts in pension and health benefits, and his draconian work rules. It is now owned by Hard Rock International (Cafe) after he sold it, so hopefully that entity will resurrect the facility given that it is located directly across from (and connected to) Steel Pier.

[Wellstone ruled]

3. This is the New White House Operations

Model,graft,pay to play and theft.

[BumRushDaShow]

4. Exactly.

[Wellstone ruled]

5. Watch the Media try to Trump splain

today's bull crap.

[BumRushDaShow]

6. Some are trying to do that now... nt

[Wellstone ruled]

7. Familiar with the Bio Fuel issue.

There are Billions paid via subsidies for both Ethenol and Soy-Oil blended fuels. Icahn finally captured a direct money stream from the US Treasury. Koch Brothers are running the same scam.

[BumRushDaShow]

8. Icahn has his finger in so much stuff that I can't keep track anymore. nt