There was a time when it was a good thing for a politician to bring home the bacon, or in the case of U.S. Senator Thad Cochran of Mississippi, the shrimp. In today’s divided Republican Party, it can get you in hot water.
Senator Thad Cochran bought shares of Crimson Exploration Inc., a Houston-based oil company, in two trades a week apart last fall. The shares climbed for six weeks and Cochran sold them on Dec. 15 for a profit.
A Mississippi Republican primary race that became a proxy battle for a larger internal struggle over the party’s future will go to another round, with a veteran U.S. senator facing a Tea Party-aligned challenger in a June 24 runoff.
The Tea Party is pretty much over for the 2014 midterm elections, with the limited-government movement losing four of yesterday’s most closely watched races in Republican primaries from Georgia to Idaho.