I’m pretty sure Congress exempted itself from insider trading rules. They get to dump stock before a crash. Just don’t you or I do it
That is my understanding.
Exactly.
You got that right. Congress has passed a myriad of laws and rules that the are exempt from following. Insider trading is one of them.
<That is my understanding. They can use info in reports, closed hearings to enrich themselves and many do.
The other source of enrichment is bribes from foreign countries.,
Yes.
But how did it become public that he sold stock?
but that doesn't mean we can't hold their feet to the fire......
afterall, FEEL THE BERN! what would Bernie do?...probably worse...
“I’m pretty sure Congress exempted itself from insider trading rules. They get to dump stock before a crash. Just don’t you or I do it”
He won’t go to jail, but he’ll have a tough time staying in the Senate.
Never forget the still allow Initial Public Offering on stock, extended to Congress people at pre-market launch prices-— it is pure bribery to get approval of the stock offering from the financial side— to grease the skids.
They are offered a bloc at way below release price, stock is introduced, goes through the roof (like tech stocks do), which is when the companies have already tipped the congress people to top of the curve. They then sell at peak take the huge margin, and then the stock levels back down to a little above the intro price. Has happened quite a bit.
I'm surprised they haven't exempted themselves from taxes yet. Or death.
I can say this is true for certain. McAuliffe traded insider info to donors through house and senate members back during the clinton years.
The first thing I said was “uhhhh is this legal?” and everyone at the table said “yes”.
Like the payoffs for sexual misconduct, this is one of the biggest open secrets in DC.
How do “community organizers” and morons like Maxine Waters get rich after they win a house seat?