2nd one : NEW -- Sen. Kelly Loeffler Dumped Millions in Stock After Coronavirus Briefing

[sunonmars]

Link to tweet

The Senate’s newest member sold off seven figures worth of stock holdings in the days and weeks after a private, all-senators meeting on the novel coronavirus that subsequently hammered U.S. equities.

Sen. Kelly Loeffler (R-GA) reported the first sale of stock jointly owned by her and her husband on Jan. 24, the very day that her committee, the Senate Health Committee, hosted a private, all-senators briefing from administration officials, including the CDC director and Anthony Fauci, the head of the National Institutes of Health of the United States, on the coronavirus.

“Appreciate today’s briefing from the President’s top health officials on the novel coronavirus outbreak,” she tweeted about the briefing at the time.

That first transaction was a sale of stock in the company Resideo Technologies worth between $50,001 and $100,000. The company’s stock price has fallen by more than half since then,and the Dow Jones Industrial Average overall has shed approximately 10,000 points, dropping about a third of its value.

It was the first of 29 stock transactions that Loeffler and her husband made through mid-February, all but two of which were sales. One of Loeffler’s two purchases was stock worth between $100,000 and $250,000 in Citrix, a technology company that offers teleworking software and which has seen a small bump in its stock price since Loeffler bought in as a result of coronavirus-induced market turmoil.

[Beakybird]

1. Were there Democratic senators at this briefing or just Republicans?

[NoMoreRepugs]

3. Great question.

[TheBlackAdder]

43. I wonder how much of that MNPI Loeffler passed onto her husband and then onto other money boys.

[DENVERPOPS]

45. Regardless

Find out the ones involved and publicize it across the nation in the states they represent. I doubt the Republicans will take kindly to the person they elected screwing them over also.......

[Hestia]

50. Isn't this the 'pug only meeting? I think WH is still holding 'pug only meetings.

Democrats have been raising hell about not getting information to make proper decisions. GOP senators are hoarding information.

[malaise]

2. Just you wait

There will be more of them -time for Rachel to expose this

[Amishman]

24. Plenty of our own are probably doing it too

Last edited Fri Mar 20, 2020, 10:23 AM - Edit history (1)

Congress has an exemption from insider trading rules, it needs to be closed.

This is one of congress's dirty little secrets

edit: one small correction, I thought the STOCK act was repealed in 2013, it was not. The enforcement mechanism was just crippled. So they don't have an exemption anymore but the law to bar them was crippled and it is very difficult to get caught now.

[TNNurse]

29. That is actually a rule??? They are exempt??

WTF??? What other crimes are they allowed to commit??

[A HERETIC I AM]

30. It's a loophole because they aren't technically "Insiders"

Congress persons can't be accused of "Insider Trading" because they aren't members of the board or otherwise technically on the inside of any publicly traded company.

At least that's the way I understand it.


And yes, it's corrupt as hell, but it ain't illegal.


Yet.

[Mr.Bill]

38. Where some of them get in trouble

is when they give the information to friends and relatives so they can do it, too.

[A HERETIC I AM]

41. Yup.

Not to mention initiating or sponsoring legislation that directly benefits a corporation or industry in which they are heavily invested.

If you or I did that, we would be in jail.


On edit to say yes, I know that kind of graft has been going on in politics since time immemorial.

[slumcamper]

42. So...the best legal protection against a chrge of insider trading is to get elected. LMFAO!

[wnylib]

53. What about Chris Collins?

[A HERETIC I AM]

54. What about him?

He was clearly an insider, according to this Wikipedia page on him;


https://en.wikipedia.org/wiki/Chris_Collins_(American_politician)#2018_criminal_charges

He was the largest shareholder of the company involved in the charges against him. That makes him an insider.

[wnylib]

55. A prosecuted and convicted insider.

So what about the claim in this thread that menbers of Congress are exempt from insider trading laws?

[SiliconValley_Dem]

34. Nope--they closed some of those holes in 2012 STOCK Act that Burr voted against

[Amishman]

56. and a year later they neutered the STOCK act, making it nearly impossible to enforce

in 2013 they removed the portion requiring online posting of the disclosure of their financial transactions, effectively making it unenforceable. The only way to accurately audit their transactions is to manually go through thousands of paper records stored in a basement in DC.

https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law

[SiliconValley_Dem]

58. Clearly not true

[Amishman]

59. he was only caught because of the leaked recording

no one would have been looking into him otherwise, as it is so burdensome to casually look into this

[Mr.Bill]

39. Why else would someone spend millions to get a six figure job? n/t

[Hoyt]

4. While I hope they lock her up, that means Doug Collins will likely be in line. We gotta vote.

[rockfordfile]

8. I could give a rat"s ass lock the gop senator up

[Hoyt]

11. Doug Collins the racist, trump loving GOPer running for Senator is darn sure not any better.

[rockfordfile]

28. there no such thing as a better goper

[malaise]

9. Collins is already in prison

for his criminality

[Hoyt]

10. Doug Collins, the racist, trump lover running for Ga Senator in GOPer special election?

[malaise]

12. Bwaaaaaaaaaaaaaah Wrong Collins

The New York one

[Hoyt]

14. Sorry, I should have identified which Collins. Forget DUers aren't in this gawd awful red state.

[malaise]

18. I should have been more careful with the first name

The New York ReTHUG prisoner is Chris Collins for insider trading

[volstork]

5. Can't wait to see if she still has

that smug look on her face when they march her off in an orange jumpsuit...

[crickets]

6. Did she just think no one would notice? Also, what a ghoul. nt

[erronis]

15. A Coulter wanna-be?

There's room in the speaking cirkets for peeps like them.

[rockfordfile]

7. Lock the corrupt pos up. Democrats ask for investigations

Americans are sick of this crap

[GoCubsGo]

13. Not surprised.

She is so skeevy is isn't funny. Blonde version of Nikki Haley. Phoney as a three dollar bill, and just as corrupt, it appears. I have no doubt she won't be the last inside trader that gets exposed.

[Blue_true]

25. Either she or her husband has had trouble with the SEC before. One of them

paid a massive fine in a settlement that allowed the person to deny quilt.

[dustyscamp]

16. Fuck Eric Trump too

[img][/img]

[malaise]

19. He could be next

[Drahthaardogs]

17. Unethical, but isnt it legal for Congress members?

Eom.

[pnwmom]

21. I think you're right. nt

[MoonlitKnight]

22. Law was changed under Obama

The Stock Act

https://en.wikipedia.org/wiki/STOCK_Act

[Drahthaardogs]

32. Good!

Glad it was changed

[Scruffy1]

49. It was always illegal for elected representatives to trade on inside information.

Well, at least since there was a law. The recent law covers government policy changes that the public may not have information on and politicians do. In a way, this one is even more egregious and maybe leads to a surmise that the Washington crew purposely held back information to give them time to short the market by selling shares or buying inverse options. I have long suspected that many of the orange idiots statements were aimed at affecting the market so the "loyal boys and girls" can make some dough on the side if they have a hint at what's coming. Of course, trying to get a conspiracy going among this confederation of dunces is a pretty far reach. In the end I think they are all certain they are immune from laws and can do whatever they want like the orange anus. The fact is the rich and the powerful rarely get bothered by laws or rules. And why would they be worried? Most of them have been getting away with it for their whole lives.

[Amaryllis]

20. I believe this qualifies as insider trading...

[SCantiGOP]

23. Of course it does

but what about her GOP card

(get out of prison)

[Amaryllis]

27. They are above the law. And i was being sarcastic when i said i believe it qualifies.

Laws don't apply to GOP.

[SunSeeker]

26. K & R for exposure.

[AlexSFCA]

31. insider trading

[a kennedy]

33. and I'm so sorry for saying this....NOT....LOCK HER DAMN ARSE UP.

I swear to gawd, and I’m so damn sick of this shit. LOCK HER UP.

[SMoss]

35. Another f-ing repugnican

Never vote for a republican again. They use their inside information to enrich themselves at the expense of the citizens who ignorantly elected them.

[kairos12]

36. No doubt Vampire Kushner was in on this as well.

[IronLionZion]

37. These assholes sound like they violated the STOCK Act

and should be investigated, charged, prosecuted, etc if so.

[NBachers]

40. Crook Rep Chris Collins of Western New York's 27th committed insider trading from White House Lawn.

He's been convicted, and will report for a 28 month sentence on April 21st.

Democrat Nate McMurray is running to fill his open seat in western New York's 27th District. McMurray's election is set for April 28th. He's got a lot of support in his district. Our donations will help push him over the edge and give western New York the Democratic representation they deserve.

Here's the story on this republican crook Collins:

https://www.whec.com/livingston-county-ny-news/start-of-chris-collins-prison-sentence-delayed-to-april/5662588/

[benld74]

46. The Loeffers Net Worth 500M

[ancianita]

48. If I recall correctly, she's the richest person in Congress already. This is one reason why.

[Hoyt]

51. Let's see what the trump family did.

[Stevegberg]

52. I think Trump, Pence, McConnell, and many other Republicans knew about this and covered it up.

[Baltimike]

57. she needs to resign immediately. nt