Hell, they ALL do it. They know how a piece of legislation is going to affect the market and that awarding a fat government contract can cause a company’s stock to skyrocket while the competitors; stock will plunge. And they write legislation in such a way that ONLY a close family member can win a fat contract.
In this case it had less to do with writing legislation than the fact that Collins
has sat on the board of Innate Immunotherapeutics Ltd and held a 16.8 percent stake in the Australian company.
A lot do, for sure. I'd PREFER they go after corrupt Republicans first. Isn't our party about draining the swamp, now that President Trump is in charge?
In June 2017, Collins was the largest investor in Innate, holding nearly 17% of its stock. When news broke of the failure of the company’s drug to treat multiple sclerosis had failed, the company’s share price fell more than 90%, to 4 cents a share. The value of his holdings plummeted from $45.5 million to barely $1.5 million.
Well this is how Pelosi and Reid and so many others acquired wealth AFTER getting into Washington politics. Some get caught and go free, others never get caught.....but they all indeed do this. It’s why some run in the first place, it’s a fast track to wealth once your inside the Washington bubble.
He's guilty alright. Of being the worst inside trader, evah.