@zahlanzi saidCome on. This isn't insider trading. I sold all my stock when it started spreading in Italy. It's fairly simple macro economics.
pffff, i guess people don't go to jail if they do insider trading while in congress.
It is, however, being a terrible politician and saying that the US 'better prepared than ever for coronavirus' is not good. It is following the White House and party line at the time, though. So blame the White House and the GOP leadership.
20 Mar 20
@lundos saidIt's interesting that he's allowed to trade at all. I believe and I'm really not sure I'm right about this, that in the UK MPs and peers are required to put their investments into blind trusts to avoid this scenario.
Come on. This isn't insider trading. I sold all my stock when it started spreading in Italy. It's fairly simple macro economics.
It is, however, being a terrible politician and saying that the US 'better prepared than ever for coronavirus' is not good. It is following the White House and party line at the time, though. So blame the White House and the GOP leadership.
20 Mar 20
@lundos saidhe sits in a congress committee, he gets daily briefings. Assures the public everything is just peachy, then sells his stock.
Come on. This isn't insider trading. I sold all my stock when it started spreading in Italy. It's fairly simple macro economics.
It is, however, being a terrible politician and saying that the US 'better prepared than ever for coronavirus' is not good. It is following the White House and party line at the time, though. So blame the White House and the GOP leadership.
congress people shouldn't have stock, period, but until that day when, gasp!, elected officials will be there because they want to server the public and not their bank accounts, how about we put this one in jail?
@zahlanzi saidUnethical is not the same as illegal. Unless you can show that he's broken the law there isn't grounds for imprisoning him. Speaking for myself, I don't want to live in a society where the law is changed retrospectively and penalties are applied for actions that were legal at the time they were taken.
he sits in a congress committee, he gets daily briefings. Assures the public everything is just peachy, then sells his stock.
congress people shouldn't have stock, period, but until that day when, gasp!, elected officials will be there because they want to server the public and not their bank accounts, how about we put this one in jail?
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@deepthought saidinsider trading IS ILLEGAL. 🙄
Unethical is not the same as illegal. Unless you can show that he's broken the law there isn't grounds for imprisoning him. Speaking for myself, I don't want to live in a society where the law is changed retrospectively and penalties are applied for actions that were legal at the time they were taken.
@mott-the-hoople saidWhat is the evidence that he was insider trading? What information did he have that wasn't available to the several billion people with internet access?
insider trading IS ILLEGAL. 🙄
@sonhouse saidnot just him. they're all thieving bastar4s https://www.dailymail.co.uk/news/article-8132245/GOP-senator-gave-dire-coronavirus-warning-heeled-constituents-Capitol-Hill-social-club.html both dems and pubs
https://www.newsweek.com/tucker-carlson-calls-sen-richard-burr-resign-over-stock-dumping-reports-1493357
@zahlanzi saidNone of them go to jail for anything. Look at the number that have sexually harassed women or not paid their taxes. People like Charley Rangel not only don't go to jail, they stay in Congress and are allowed to retire with a lavish retirement, courtesy of the US taxpayer.
pffff, i guess people don't go to jail if they do insider trading while in congress.
@deepthought saidthat's for an investigator to find
What is the evidence that he was insider trading? What information did he have that wasn't available to the several billion people with internet access?
In case it wasn't clear, i wasn't advocating we bypass the entire court system and just throw him in jail. He has to be brought before a judge but someone must make that first step.
Funny how poor people get thrown in jail for the most inane reasons and they stay there without seeing a judge for weeks but you don't even start investigations on rich people (Kamala Harris on Mnuchin fuking over poor people springs to mind)
@sonhouse saidI was following the pandemic and had enough sense to sell while the stock market was high. It didn't even take insider knowledge. Just public information.
https://www.newsweek.com/tucker-carlson-calls-sen-richard-burr-resign-over-stock-dumping-reports-1493357
If Burr sold and voluntarily told the public, he's stupid. If he sold and knew the public would find out, he's stupid. But it's not illegal. And personally I don't begrudge him for saving his money that would otherwise be pocketed by hedge fund managers.
20 Mar 20
yet he had access to more than public information. He could have known exactly when it's going to be highest because Trump was about to pump cash directly into it and when that high is going to drop. I thought the public would want to know exactly what more did he know than the public and if he profited directly from it, the very definition of insider trading.
But you're probably right, who cares. Hey, can we have another investigation into Clinton's emails, it's been a while since we looked into that.
20 Mar 20
@techsouth
The senate passed and POTUS signed a bill making such trades illegal through insider knowledge, That law was specifically for congress.