Congressmen and insider trading

[RickN]

That is the only reason people want to be in government, for money. And I’m not talking about their salaries. They all make tons of money doing things they shouldn’t be doing. It’s ridiculous. And we just allow it to happen. And this is yet another reason I always say voting will never fix things. Just look at the Clintons and the Obamas. Neither of them were rich but when they got out of the White House they had more money than they knew what to do with.

Not voting just makes the problem worse because they think people are OK with it. Instead, vote for the one you think is most honest, or at least the new person every time. Personally I sent an e-mail to Inhofe saying he should resign because of it, or at least not run again.

 

[Hobbes]

Drain that swamp!

 

[TerryMiller]

No reason to worry about Inhofe. He's a very rich person and his trades were made by his financial advisers based on publicly available information.

There isn't even any reason to worry about Burr. He has defended himself by saying that he dumped his stocks based on publicly available information.

The problem for Burr is that he is on tape telling his wealthy donors the truth while still lying to the American people on television. All this happened long before the President had his public come to Jesus moment, and Burr was solidly on the team.

So Burr's problem is that he was out there benefiting from publicly available information at the same time he was telling the people that they shouldn't believe what they could see with their own eyes.

He'll be just fine. What he was doing was unethical and even immoral, but it probably wasn't against the law.

Kelly Loeffler told Tucker Carlson at FOX News that her trades are done by a third-party set of advisors. She only finds out about the trades after they have been done.

She said that she set it up that way when their governor appointed her to the Senate.

 

[JD8]

Not voting just makes the problem worse because they think people are OK with it. Instead, vote for the one you think is most honest, or at least the new person every time. Personally I sent an e-mail to Inhofe saying he should resign because of it, or at least not run again.

There's not thing wrong with what Inhoff did if you understand what he did and the timeline. He sold his stock around Feb 27th...... just like everyone else...

 

[Glock 40]

Nothing gonna happen to any of them. Move along people.

 

[JD8]

Kelly Loeffler told Tucker Carlson at FOX News that her trades are done by a third-party set of advisors. She only finds out about the trades after they have been done.

She said that she set it up that way when their governor appointed her to the Senate.

It's called a blind trust and she surely could've tipped them off as to what was happening. She sold her stock around Jan 24th, right after a Coronavirus health committee meeting. She's full of it.

 

[ignerntbend]

Kelly Loeffler told Tucker Carlson at FOX News that her trades are done by a third-party set of advisors. She only finds out about the trades after they have been done.

She said that she set it up that way when their governor appointed her to the Senate.

I wouldn't question anything that Loeffler told Carlson as anything but the Lord's truth, but the problem with the optics is that her husband is the president of the New York Stock Exchange. That's enough to get people talking.

It isn't that unusual for rich folk to throw a chunk of money at a brokerage house and let them do with it what they will, so she has plausible deniability here, which is all that matters. Same with all the rest of the senators in question.

Burr's problem runs a little deeper. He's on tape telling his big money contributors that Covid-19 is going to hit us worse than what happened in 1918.
A few days later, he's on the Sunday morning shows explaining how the virus is under control and there's really nothing to worry about.

So he was trading stocks based on "publicly available information" while pushing the usual narrative that publicly available information can't be true.
You saw that narrative play out right here on OSA before the President gave people permission to see what was in front of their own noses.

It's just a moral and ethical problem for Burr. It isn't a legal problem as far as I can tell.