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.
Tea Party-aligned Chris McDaniel battled longtime incumbent Thad Cochran for the Republican U.S. Senate nomination in Mississippi in a race that remained too close to call with most ballots counted as of early today.