Several legislatures caught insider trading. Timing based on coronavirus breifings.

[WhatInThe]

Several legislatures caught insider stock trading based on the timing of non public coronavirus briefings.

https://nypost.com/2020/03/19/georg...-after-private-meeting-on-coronavirus-report/

As usual these people got caught and so will others. But what about all those that didn't.

 

[Don M.]

This is not surprising. The politicians, and their wealthy backers invariably get news that the rest of us might not see for days. The global economies have Always been, and will Always be skewed in favor of those in a position of wealth and influence.

 

[doat]

This has happened before and yet many of this crooks are still in office. Ban them all and keep them from running for office again by banning them for life. And second thought is to put them punishment stocks on the capital lawn. Let the people know what these scum do in secret.

 

[Catlady]

That's probably why they had Coronavirus meetings in secret, so that they could have time to sell before the public panic.

https://finance.yahoo.com/video/u-senators-under-scrutiny-selling-162831366.html

 

[Catlady]

He sold his hotel stocks on Feb 13 before a 4000 drop in the DOW and on Feb 27 told his social club that
"the new coronavirus was "much more aggressive in its transmission than anything that we have seen in recent history" and is "probably more akin to the 1918 pandemic."

https://finance.yahoo.com/news/senate-intelligence-chair-unloaded-stocks-235200094.html

 

[Gaer]

Will this be prosecuted or swept under the rug? Guillotine?

 

[Butterfly]

Probably swept under the rug.

 

[rgp]

Hell, it's barely been noted on any of the news outlets ! This should be shouted from the roof tops.

 

[StarSong]

Much as I think most politicians are lower than pond scum, by the time February 13th rolled around the (non-Fox) main stream media outlets were running plenty of stories about China, including dire predictions that this virus could be disastrous. Just because Trump was downplaying it, doesn't mean epidemiologists and scientists were.

Our own SF community started discussing it January 24th, or perhaps even earlier.
https://www.seniorforums.com/threads/coronavirus.45919/

I think these senators are going to be in the clear.

 

[Em in Ohio]

Look forward to even greater economic disparity... They should be stripped of every asset they own, but they are probably well hidden.

 

[RadishRose]

Martha Stewart went to prison for insider trading!

 

[Catlady]

Much as I think most politicians are lower than pond scum, by the time February 13th rolled around the (non-Fox) main stream media outlets were running plenty of stories about China, including dire predictions that this virus could be disastrous. Just because Trump was downplaying it, doesn't mean epidemiologists and scientists were.

From what I read, they had their secret meeting on 2/12, and the next day Burr started selling his hotel stocks until 2/27 when he told a club he belongs to that this virus will be bad. By then he had sold all he wanted to sell. By any definition, that was insider trading. I doubt he or the woman will be punished, it will be swept under the rug. She claims that others run her portfolio and she had nothing to do with it. Yeah, right!

 

[gennie]

Martha Stewart went to prison for insider trading!

Martha Stewart was guilty of insider trading but she was jailed for lying about it in a federal court trial . Yes, there really WAS a time when lying under oath in a federal trial was a jailable offense.