General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEvery Senator that sold off stock after being briefed
about coronavirus needs to resign now, and that includes Ms. Feinstein. Burr, Loeffler, Johnson, all of them.
Rorey
(8,445 posts)Coleman
(854 posts)it is still illegal for them to pass on the information for the purpose of informing others of information that is not knowledge that has been released to the public. So at least Burr should be charged for insider trading. Who was that CA representative that got convicted because he told his son some news that had not been released.
safeinOhio
(32,714 posts)Law changed in 2012.
babylonsister
(171,079 posts)5X
(3,972 posts)I'm afraid he will use all his power to protect the rest and himself.
walkingman
(7,651 posts)hold my breath. Not only will they get away with it but will more than likely be re-elected. Welcome to America where Party is more important than anything and nasty white people have been getting away with shit for centuries.
OKNancy
(41,832 posts)If there was no communication with the people who did the sale. If their portfolio was in independent hands their people may have made a wise decision.
I did. I took out 2/3 of my IRA on Jan 29th because of the news from China. I'm just an old retired lady in Oklahoma and I knew it was going to be bad and I had no briefing.
*I'm sure some of them are guilty as hell, but it should be investigated first.
NewJeffCT
(56,828 posts)years back?
Jamastiene
(38,187 posts)I'm sick of Congress having different laws to follow. If anyone else did insider trading, they would be charged. See Martha Stewart for reference.
Charge them. Better yet.
stillcool
(32,626 posts)When Obama was President, there was a law...
The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.
The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 963 vote.[2] Later the House of Representatives passed it by a 4172 vote.[3] The bill was supported heavily by vulnerable incumbents and signed into law by President Obama.[4] According to the current United States Senate Select Committee on Ethics, "A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee."[5]
https://en.wikipedia.org/wiki/STOCK_Act
safeinOhio
(32,714 posts)a fine.
dawg
(10,624 posts)Anyone who took the problem seriously and advocated for a stronger response would have been foolish not to at least consider selling some shares.
Selling stock isn't the issue.
Being complicit in covering up a public health crisis *is* the real crime. The stock sales just prove they were knowingly doing so.