Posted on 01/19/2021 8:42:18 PM PST by Bigtigermike
The months-long investigation into allegations that Republican Sen. Richard Burr of North Carolina engaged in insider trading has been closed by the Justice Department and it will not pursue any charges, the GOP senator announced on Tuesday.
"Tonight, the Department of Justice informed me that it has concluded its review of my personal financial transactions conducted early last year. The case is now closed," Burr said in a statement.
The FBI launched a probe into Burr's business dealings after the senator, who served as the chairman of the Intelligence Committee, privately warned a group of well-connected constituents in February to prepare for the coronavirus. He then sold off his own stocks in travel companies, which just weeks later would suffer decimating losses.
(Excerpt) Read more at npr.org ...
Looks like he has his ‘payoff’ for his dirty deeds.
Or, the charges were there to insure he played along.
Now Andrew Weissman will tip him off on any pre-dawn raids of CEOs in time for him to bail and then short his positions.
Deep state folks got to stick with and protect deep state folks......
The day is coming, probably after I am dead and long gone, where the deep state house will get burnt totally to the ground. Karma is a mofo.
Insider trading laws in the U.S. apply to information received from inside a specific company, not to information received in classified briefings about general industries or economic circumstances. The fact that the information isn’t available to the general public isn’t relevant.
It doesn’t make it right, but the law is very clear on this.
The hyper treasonous hyper corrupt - protecting the hyper treasonous hyper corrupt...
It was great watching Trump throw pebbles into the swamp. The last little ripple in the muck has petered out.
Now the DOJ can get back to Hunter’s laptop...
“It was always a BS charge.”
I don’t know why you write that. It seemed from the facts he was obviously guilty.
Where we at with the Hunter corruption and RICO cases???
In other words, the DOJ pardoned Burr.
Another great big middle finger to normal Americans.
“It’s a big club and you ain’t in it.” George Carlin
L
[I don’t know why you write that. It seemed from the facts he was obviously guilty.]
Second, the information has to be certain to result in a profit. For instance, some high-ranking official in a corporation tells you, at a time when then stock is trading at $10, that another company has offered to buy it out at $20. The moment that information becomes public, the stock is bound to rise materially.
Whereas even breaking information about pandemics (vs the non-breaking news nature of the briefing) has had no impact on financial markets. The past century has seen any number of new infectious diseases come on scene. MERS, SARS, Hong Kong flu, AIDS - all have come and gone without a ripple. SARS in particular killed thousands in China without actually doing much outside of it, let alone dent stock prices.
Just because you did not know something known to the markets before a government briefing and found out about it afterwards doesn’t meant you are guilty of insider trading. In this case, Burr was merely guilty of ignorance of something he wouldn’t normally be interested in, anyway. He would have been guilty of overreaction if the virus had turned out to be like SARS, which created similar problems at the outset, but only within China.
The markets started turning down only when Italians started dying in significant numbers. And that was when everyone realized that this wasn’t a virus lethal only because of Third World sanitary and health care standards. None of this was non-public information. In fact, it was a little too public - like a soap opera, with everyone hanging on to dramatic stories and watching numbers climb inexorably.
Shocked I tell ya.
The real news would have been not so much “the pandemic”, but the government’s lockdown response to it.
They are all corrupt.
This could as well have been part of the larger deal or deals Trump made to be kept from being 25th A’d or convicted after impeachment—or the DoJ continuing as it had, doing its own thing, all along.
What’s going on, did they just buy another impeachment vote?
Sadly he’s retiring.
I so wanted to vote AGAINST him in the primary.
I don’t need evidence. Dick Burr is guilty. He was one of the head honchos in the Russia scam. F him. And I campaigned for this chit head.
Why Congressional Insider Trading Is Legal – and Potentially Profitable
By Samuel Taube
We Americans pride ourselves on building a system of government where no one is above the law – not even the lawmakers themselves. Except… well, sometimes they kind of are. As this week’s chart shows, congressmen have historically done a lot better in the stock market than the average American household has. This suspicious outperformance is made possible by the widespread and technically legal practice of congressional insider trading.
As our Income Expert Marc Lichtenfeld wrote a few years ago…
I know a nearly foolproof way of getting rich. It doesn’t involve signing up for one of The Oxford Club’s services, and it doesn’t require much risk because you already know the outcome. In fact, you’ll help decide it. One thing you can do to increase your net worth by 10-fold is get elected to Congress.
It’s easy to understand how our representatives and senators obtain valuable financial information. Congress makes decisions about economic policy, foreign relations, tax reform and other matters that directly affect the bottom lines of publicly traded companies.
But there are more interesting questions to be asked about this seedy phenomenon. How does Congress get away with insider trading? And how can you take advantage of this lucrative legal gray area?
Originally posted July 22, 2017
Updated on May 13 at 12:02 pm
being a good NeverTrumper and a thorn in Trumps side by yielding to the Dems
Precisely why the case was dropped. He did his job and was given his cookie. Hope he enjoys his last few years in the Senate. He’ll have enough time to pad his bank account and qualify for that government pension
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