I wish they could be fired for this. They’re going out acting concerned, want to help main street not wall street, then they do insider trading. I read one of them tipped off his donors.
People are stressed and sick about their losses, even some on this thread.
We can fire these reprobates but only at the ballot box, sadly.
Seems to me if word gets out, Doug Collins chances for Senate should go up.
I’ll bet that we find out many in congress dumped their stocks.
Elected officials are prohibited from profiting on insider information by law known as the STOCK ACT.
There are strict penalties for regular citizens who violate insider trading laws but I haven’t found anything on the net stating that seantors or Representatives are subject to any actual punishment for breaking the law.
This might be another one of their laws written to sound good to the public but do nothing at all to ensure they are treated the same as regular citizens who violate the law.
STOCK ACT
The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law on April 4, 2012.
The law prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees.
The bill was passed in the Senate by a 96–3 vote.
Later the House of Representatives passed it by a 417–2 vote.
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.”