More corruption : Perdue began buying up stock in a company that made submarine parts - Read on

[sunonmars]

Link to tweet

EXCLUSIVE: Right before he was put in charge of a Senate subcommittee with jurisdiction over the Navy, Sen. David Perdue began buying up stock in a company that made submarine parts.

And once Perdue began work on a bill that ultimately directed additional Navy funding for one of the firm’s specialized products, he sold off the stock, earning him tens of thousands of dollars in profits.
@sambrodey
reports...

Link to tweet

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Perdue will be shitting himself in January.

[mr_lebowski]

1. It's perhaps not as nefarious as it sounds ...

"And once Perdue began work on a bill that ultimately directed additional Navy funding for one of the firm’s specialized products,"

Depends on whether the market became aware that this bill was 'being worked on' and that boosted the price of the stock, and then he sold.

If the market was not aware, it could be argued that he did the right thing by selling the stock as soon as he began working on the bill.

It would seem worth investigating however.

[lagomorph777]

2. It's insider trading; he doesn't get to excuse it with lame claims about the market's awareness.

Bill markups and votes are in the public record. Also, he could have quietly dropped a few hints.

[mr_lebowski]

3. I added a line that it certainly seems worth investigating after first posting :)

It very well may be insider trading.

But it might not.

Depends a lot on dates of when various things happened and yes as you say who he may've dropped hints to.

[Blue Owl]

4. And on top of that

He just got almost a million more from that Koch fucker. Enough with these rich fucks running the show.

[genxlib]

5. The whole system is corrupt

Congress people and other high ranking Government officials should not be allowed to invest in the market in this way.

At best, it should be in a broad index fund but I think that would still be unwise since people would still be tempted to goose the market in broad ways.

It would be better to simply disallow anything outside of a truly blind trust.