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Wed May 24, 2017, 08:55 AM

Carl Icahn Guides Trumps Policy and Scores $60 Million

Source: Bloomberg

Government work has paid off handsomely for billionaire Carl Icahn. CVR Energy Inc., his oil refining company, saved about $60 million in the first quarter because of expectations that the federal government will ease a regulation involving renewable fuels, securities filings show.

Itís much more than a lucky break. As a ďspecial regulatory adviserĒ to President Donald Trump, Icahn himself has been advocating the kind of relief that will benefit his company. Icahnís cost savings show how the Trump administration has let officialsí outside business interests influence policy decisions. Richard Painter, a University of Minnesota Law School professor and White House ethics counsel under President George W. Bush, calls Icahnís role ďa clear conflict of interest.Ē

Even before the magnitude of Icahnís gain was known, a group of U.S. Democratic lawmakers sent a letter to regulators urging them to investigate whether Icahn used his role as adviser to gain unfair trading advantages. Brandee Stephens, a spokeswoman for Sugar Land, Texas-based CVR declined to comment. Icahn didnít return several messages left for comment.



Read more: https://www.bloomberg.com/news/articles/2017-05-24/icahn-reaps-60-million-windfall-as-trump-regulations-adviser

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Reply Carl Icahn Guides Trumps Policy and Scores $60 Million (Original post)
Mr. Sparkle May 2017 OP
BumRushDaShow May 2017 #1

Response to Mr. Sparkle (Original post)

Wed May 24, 2017, 08:59 AM

1. They are making sure

the sheer quantity of illegalities is so large that they would be "too big to prosecute", because investigators would not even know where to begin.

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