Congressman Loses $18 Million In Stock Market Scam

Alan Grayson is the big mouth Democrat congressman from Florida who's no stranger to controversy.  Grayson just lost his ass in a scheme that was on target to net him massive gains in the stock market while avoiding capital gains taxes.

Grayson turned over his stocks to a broker just convicted and sentenced to 12-years in prison. The stocks were transferred to the crook as a 'loan.' The value of the stocks and any value gained in the markets could then be 'borrowed' back by Grayson. The gains of course exempt from capital gains taxes since the transaction takes the form of a loan and not an income stream.

Grayson's no stranger to this kind of scheme. In 2009, Grayson won a $34 million judgment against Derivium Capital. Derivium's business plan for hedging an investor's stock portfolio was nearly identical to the plan outline by the guy that just went to jail and lost Grayson's $18 million.

Like John Edwards before him, Grayson's among the top 20 most wealthy in congress in large part by due to winning tons of cash in court settlement where he acted as trial lawyer.

During the hot Obamacare debates back in the day Grayson stood on the floor of congress and tore down the GOP's alternative to Obamacare as little more than wanting sick people to "die quickly."

And just last month Grayson was demogaguing the GOP characterizing all of them as paranoid, gullible, bigoted, Confederate flag-waving gun nuts.

Grayson still has a ton of cash, so no need to pity the hulking hypocrite. Grayson's odor of evil doesn't go away on it's own.