EDF, energy, Ethics, Exxon, hearings, Honeywell, Lockheed, militarism, military build-up, non-renewable energy, Novartis, nuclear, oil and gas, Pump and Dump, Rex Tillerson, stock, Stock divestment, stock value, Tillerson, Trump, Trump Cabinet
For regular stock, whether Exxon or other, such as French State owned EDF, Swiss pharmaceutical giant Novartis, many related to military, etc. (see list of companies further below), Tillerson has 90 days after he is approved as Sec. of State to divest. There are a lot of possibilities to pump stock prices by word or deed in the interim. His very nomination and/or appointment may be a stock pump and dump scam. Exxon stock jumped a lot when the nomination was rumored-announced. Recall that the value of uranium stock increased subsequent to one of Trump’s statements about nuclear – was it a tweet?
Notice the huge loopholes in his “ethics” document:
“I hold stock in ExxonMobil. I do not hold any vested or unvested stock options. I will divest my stock in ExxonMobil within 90 days of my confirmation. I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of ExxonMobil until I have divested this stock, unless· I first obtain a written waiver, pursuant to 18 U.S.C. § 208(b)(l), or qualify for a regulatory exemption, pursuant to 18 U.S.C. § 208(b)(2).”
He says he “resigned from my position as Chairman and CEO of ExxonMobil Corporation. (ExxonMobil) on December 31, 2016. For a period of one year after my resignation from ExxonMobil, I will not participate personally and substantially in any particular matter involving specific parties in which I know that ExxonMobil is a party or represents a party, unless I am first authorized to participate, pursuant_ to 5 C.F.R. § 2635.502(d).” SO WILL HE RESIGN AS SEC OF STATE AFTER ONE YEAR?
For the other stock which includes a lot of companies which benefit from military build-up, as well as foreign owned ones such as French Government owned EDF (which owns the nuclear power stations in France and the UK) and Swiss Novartis (under investigation in the US and Greece for corruption), etc, he says:
“Within 90 days of confirmation, I will divest my interests in the entities listed in Attachment A. With regard to each of these entities, I will not participate personally and substantially in any particular matter that to my knowledge has a direct and predictable effect on the financial interests of the entity until I have divested it, unless I first obtain a written waiver, pursuant to 18 U.S.C. §. 208(b)(l), or qualify for a regulatory exemption, pursuant to 18 U.S.C. § 208(b )(2).”
ONCE AGAIN, NOTE THE HUGE LOOPHOLES INCLUDING THE VAGUENESS. He can simply send an underling, argue that his participation wasn’t substantial, that the matter wasn’t particular, or that he had no knowledge, etc. If all else fails, he can get a waiver to do what he wants!
Read the first pages and the list of entities to divest below. There are a total of 47 pages. There are important ones such as Caterpillar, apparently involved at Sakhalin in Russia, which we failed to underline. He is apparently not divesting stock such as Korean Electric (KEPCO) where he has less than $1,001 of stock. Some of the other amounts may be small compared to his overall wealth but altogether they add up and create a big picture where small statements could lead to big stock pumps. Recall that one Trump statement about nuclear caused uranium stocks to increase. It is important to look at the broad scope, big picture, of the stock which is oriented toward military and non-renewable energy, including nuclear.
A law needs to be passed whereby Presidential candidates nominate their cabinet well ahead of the election, so that the population and Congress can vet them ahead.
Tillerson Ethics Undertakings 3 January 2016
There is much more on the Exxon stock. We included these last two pages to show the years he served on the Boy Scouts board. Read the rest in the 47 page version of his assets, etc, here: https://assets.documentcloud.org/documents/3254118/Tillerson-Ethics-Undertakings-and-Financial.pdf
Watchdog Public Citizen has found more in additional documents:
“Does Tillerson’s Deal with Exxon Eliminate His Interest in the Company?“January 6, By David Arkush: http://www.citizenvox.org/2017/01/06/tillersons-deal-exxon-eliminate-interest-company/