Posted on 01/14/2024 9:44:58 AM PST by Twotone
Congressman Tim Burchett is now exposing insider trading in Congress. Watch out Pelosi!
What does Captain Louis Rennault have to say about this?
This was first publishing in “DUH” Magazine.
Shocked, I tell you.
Edited for a certain expletive, mind you. :)
Of course they participate in insider trading. They let it leak that a certain company is going to be investigated or not have their lucrative contract with the government renewed and the stock plunges and they buy. Then they come out with the budget and show it’s all false and the stock soars and they make a killing.
IIRC insider trading is not illegal for Congressmen and Senators.
Government employees (contract managers) have been known to do this as well.
No, it isn’t. But it should be.
What they do routinely is perfectly legal for them to do - and would land you or I in jail if we did it.
A Congressman can make $174,000 in salary plus a nice pension after four years. That same Congressman, if they "vote right", can make $1,000,000 to $2,000,000 per year in trading opportunities which will never be offered to your or I, and in which it would be illegal for us to participate.
Some Congressmen do much better. A.O.C. went from being a bartender in NYC with unpaid student loans and zero assets, to a reported net worth of $29,000,000 in the last six years.
Nice work if you can get it.
The first Tea Party Congress banned it. When the rats got control again one of the first things Pelosi & Rat did with RINO concurrence was bring it back!
We know this. We know these people make about &200k per year and live like multimillionaires.
What people might also do their country a service to realize is these grifters want zero accountability. They want no law and order types in their midst and there are none. Anyone hinting at doing the right thing getting anywhere near the white hose and the top secret info, the means to enforce laws is their enemy.
WE should have laws where the Congress creatures and Senate snakes make a total of $250,000 /year in salary and no income from other sources. Audit them every year for 10 years after they leave office. No shell corporations, partnerships, sweetheart deals, delayed payments, payments to family members, secret bank accounts, future jobs with the military, stock options, etc. This will attract people who want to serve the public interest and not their own. No sponges looking to get rich through influence peddling.
I wonder much money Dan Crenshaw has made off defense industry stocks.
The STOCK Act is actually one of the few things Obama got right: https://www.cbsnews.com/news/obama-signs-stock-act-to-ban-congressional-insider-trading/ A loophole exists though (of course): It’s an open question whether an intent to vote one way or another is “material non-public information.”
Geez, what was your first clue?
The key is whether or not the discussion of the contracts is in the public record. If I know there is a contract for a new jet fighter and there are two companies on record as submitting responses the the RFP, then it is not insider trading to buy options on either one of them.
Of course, scouring through all of the public information is daunting. This crap is hidden in the weeds. THAT is where the members of Congress has an advantage.
incoming in 3 2 1
Pelosi made ten of Millions of Dollars insider trading and Lizzy Cheney made around $30 million.
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