What Is Really Wrong with the Senator Who Dumped $1.6 Million Worth of Stock Before the COVID-19 Market Crash

Comments

1

100% true

3

They sent Martha fucking Stewart to jail for a fraction of this. Here we have audio!

4

Even Fox News viewers can appreciate that, if this guy skates for basically the same crime that Martha Stewart did hard time for... well that's fucked up.

5

@3- beat me to it!

6

@1 schmacky, @3, Inishn2, and @4 & @5 kallipugos: Agreed, seconded, and thank you all for beating me to it.
@2: Go get a vaccine, already, before your lethal MAGAvirus spreads any further. And wash your hands.

7

@3: Whoops--sorry. Make that In2ishn2.

8

Um NOT insider trading. Anyone who reads world news saw this coming as wound it’s path of destruction through China, Japan, S Korea. We’re not senators or even finance professionals but knew enough to run for cover for our children’s college savings and some of our retirement.

9

Not the first, not the last, unless they pass comprehensive ethics reform. If you hold elected office, your money goes into a blind trust. You can specify the level of risk you are willing to endure, but that's it.

Personally, I would just put it in money market funds until I got out. If the country is in better shape, then I'm happy, and people will buy me beer. If not, well, at least I got my T-Bills.

10

I love mankind.
It's people I can't stand.

12

Doesn't fit the definition of insider trading as there was no "insider" knowledge or advantage.

13

Yes, it's not insider trading, unless it's specific knowledge about one stock.
And yes, they should put assets into a blind trust, or otherwise divest themselves of financial interest while they are supposed to be serving the public interest.
There is something called the public good, or at least there used to be.

14

@8 FFS, you’re not in charge of pandemic response policy. A Senator is. And can manipulate that response for financial gain.

15

@14- exactly.
This is as clear-cut case of right and wrong as you can find. Anyone defending this sleazebag is just being obtuse.
This guy is guiltier than OJ.

16

He should be jailed for stupidity, if nothing else. Nobody was going to notice?

17

Loeffler, Inhofe and Johnson have also been implicated.

Loeffler is an appointed senator who has to run this year. Au revoir.

18

Another good, classic Mudede post. Like the olden days.

20

Please tell me, @8, where did you get your law degree/securities license?

21

Wow. Tucker Carlson calls for his resignation:

https://youtu.be/j6bFnOURm6E

22

Ever notice that @6 has fuck all to say about anything except "I'm with team X" and "Fuck you go die team Y"?

She's a Facebook built Russian fake news dupe, and though "ours," every bit as dumb and dangerous as her carbon copies set up on the other side. She cry out for mass murder on a regular basis!

Good article here that a relative wrote on this subject about her (remove the space after https):

https ://ordinary-times.com/2018/11/06/auntie-grizeldas-bandwagon/

24

Guillotines.

Just saying.

25

OMG! Charles did a stock market story without saying something hella stupid!!! No decent into wildly inaccurate statements about the bond market. No idiotic comparisons to ancient money systems. No trumped up philosophizing about late stage capitalism!

It's a miracle.

Of course not even Trump, the guy who can move the market with a tweet, is a legally required to hold assets in a blind trust. But jesus are we sure as hell seeing the case for why that should change. Of course, most members of congress don't have the guaranteed 7 figure incomes that presidents enjoy. So we could either require them to keep assets in a blind trust, or establish regular trading windows for senior officials that could be ordered closed by the SEC or some other regulatory body in moments like these. There was a pretty long period of uncertainty that would have given a decision maker plenty of time before Feb to order trading windows closed.