Manchin's Dirty Empire Reaps Big Financial Rewards from Network of Coal Companies

[BigBearJohn]

Last edited Sun Oct 24, 2021, 01:42 PM - Edit history (1)

https://www.rawstory.com/joe-manchin-finances/

"According to a report from The Intercept's Daniel Boguslaw, Sen. Joe Manchin's rise from state lawmaker in his native West Virginia to one of the most powerful members of the U.S. Senate was accompanied by a fair share of FBI and IRS investigations into the people who surrounded him."

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SOURCE: https://theintercept.com/2021/09/03/joe-manchin-coal-fossil-fuels-pollution/

“If you’re sticking your head in the sand, and saying that fossil [fuel] has to be eliminated in America, and they want to get rid of it, and thinking that’s going to clean up the global climate, it won’t clean it up all,” Manchin told CNN after a private meeting with President Joe Biden and his fellow Senate Democrats. “If anything, it would be worse.”

Manchin’s claim that climate pollution would be worsened by the elimination of fossil fuels — or by the resolution’s actual, more incremental climate provisions — is highly dubious, if not outright false. What would unquestionably be impacted, however, is Manchin’s own personal wealth. [Question from this poster: Aren't there laws against this?]

Though Manchin’s motivations are often ascribed to the conservative, coal-friendly politics of West Virginia, it is also the case that the state’s senior senator is heavily invested in the industry — and owes much of his considerable fortune to it.

For decades, Manchin has profited from a series of coal companies that he founded during the 1980s. His son, Joe Manchin IV, has since assumed leadership roles in the firms, and the senator says his ownership is held in a blind trust. Yet between the time he joined the Senate and today, Manchin has personally grossed more than $4.5 million from those firms, according to financial disclosures. He also holds stock options in Enersystems Inc., the larger of the two firms, valued between $1 and $5 million.

[emphasis added]

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The fact that Manchin owes much of his considerable fortune to the coal industry seems to raise red flags. Personally, I think pressure should be heavily applied to Manchin to persuade him to stand up and align himself with the current fight for democracy or face a very thorough ethics investigation into his financial history. For more information on reporting requirements of members of Congress, see: https://www.opensecrets.org/personal-finances/disclosure

[UTUSN]

1. K&R

[Bluethroughu]

2. Coal over democracy, Manchin has been a good student,

And has been rewarded for his efforts.

Disgusting.

[Martin Eden]

3. Conflict of Interest is glaringly obvious

and should be ILLEGAL.