Senators Loeffler and Burr demonstrate that we are STILL in the golden age of white collar crime.
“An entrenched, unfettered class of superpredators is wreaking havoc on American society. And in the process, they’ve broken the only systems capable of stopping them.” The GOP is rotten to the core. America got trumped…
Ethics are ethics. Law is (mostly) the law.
Will insider trading laws fully apply?
Can Members of Congress Engage in Insider Trading?
Statutory law forbids it, and even if it did, Congress has always had the constitutional power to discipline its Members.
2011, CBS’ 60 Minutes ran a story alleging that Members of Congress were using insider information to benefit on stock trades. The story provoked a furor among the public, leading to the enactment of the STOCK Act, which President Obama signed into law on April 4, 2012.
How the STOCK Act is actually implemented and who has the power to file charges of insider trading.
The act had several effects, but the most notable was that it explicitly stated that Members and congressional employees “are not exempt from the insider trading prohibitions arising under the securities laws…” (§4(a)).
Additionally, it amended the Securities Exchange Act of 1934, to specify each Member or employee “owes a duty” when in receipt of “material, nonpublic information” obtained as a result of their public office (§4(b)(2)).
Reminder
The stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
Hotel stocks !!!!!
When classified intelligence briefings are used for insider trading, we need to ask why were these briefings classified? The American people have a right and need to know about the coronavirus epidemic outlook and response. End classified briefings on COVID-19. Make them public.
There are at least 5 members who need to be charged per reports.
Senators that sold stocks in Jan after a senator only private meeting on the COVID-19 Virus:
https://twitter.com/annalecta/status/1240747067024322568
What did Trump family do with its holdings as president spent weeks downplaying virus threat ? #HotelStocks
Senator Richard Burr
Senator Kelly Loefner
Senator Dianne Feinstein
Senator Ron Johnson
Senator Jim Inhofe
http://pfds.opensecrets.org.s3.amazonaws.com/Burr_PTR_0202020-rotated%20%281%29.pdf
NC’s GOP Senator Richard Burr told the public he was confident the govt can fight off COVID-19 the same time he & his wife sold up to ~$1.5 million stock in major corporations that ended up losing most of their value during the coronavirus pandemic
But it was “perfect insider trading.” @SenatorBurr ……duh…….that’s why its insider trading….when you sell BEFORE the incident……
Soon after he offered public assurances that the government was ready to battle coronavirus, Senate Intelligence Committee Chairman Richard Burr sold off between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions.
https://www.propublica.org/article/senator-dumped-up-to-1-6-million-of-stock-after-reassuring-public-about-coronavirus-preparedness
Joaquin Castro @JoaquinCastrotx
As a member of the House Intelligence Committee, I know that our committee receives sensitive information, including assessments and projections, before others in Congress and the general public (if ever).
Senator Burr should suspend his chairmanship pending investigation.
Tucker Carlson calls for Senator Burr to resign and await prosecution for insider trading if he cannot provide a reasonable explanation for his actions. He goes on to say it appears that Senator Burr betrayed his country in a time of crisis
https://twitter.com/AOC/status/1240822573954412545
Sen. Kelly Loeffler sold between $1.2M and $3.1M worth of stock in the three weeks beginning on Jan 24—the day of a closed-door, all-Senator briefing on the coronavirus.
– Loeffler’s husband, Jeffrey Sprecher, is CEO of Intercontinental Exchange, which is regulated by the Commodity Futures Trading Commission, and which owns the New York Stock Exchange.
– Sen. Kelly Loeffler is married to Jeffrey Sprecher, the chairman of the New York Stock Exchange, and the chairman and CEO of Intercontinental Exchange, which is NYSE’s parent company.
– Sen. Kelly Loeffler is the second senator who has gotten rid of their holdings right as the stock market went bad
– @SenatorLoeffler dumped all her stocks weeks before she said this March 10
https://twitter.com/TheTNHoller/status/1240980541563965440
– Kelly Loeffler’s net worth is almost $500,000,000. She is the wealthiest member of Congress … and … it … just … isn’t … enough.
https://www.thedailybeast.com/sen-kelly-loeffler-dumped-millions-in-stock-after-coronavirus-briefing
Sen. Kelly Loeffler sits atop ICE which owns the NYSE. Look into who benefited from those crude oil purchases on the day of the national emergency declaration too. Bigger implications since her husband’s company owns the NYSE. Who did she tell who did he tell ??
Reminder
The stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
The stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
The stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
– The stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
Reminder that the stock market got its $1.5 trillion check from Trump almost immediately on Tuesday.
Hotel stocks !!!!!
vs the food stamp program
A judge has ruled that it would be “arbitrary and capricious” to force hundreds of thousands of people off the food stamp program in the middle of a global health crisis. Despite these concerns, the Trump administration disagrees.
https://time.com/5806092/usda-food-stamps-appeal-coronavirus/