oravavaara
138333
3088
77
Read more: https://www.nytimes.com/2020/03/20/opinion/burr-loeffler-stocks-coronavirus.html?action=click&module=Opinion&pgtype=Homepage
flatcarrot
I will judge Americans by this next election.
Newgrasser
Burr did this on the eve of the 2008 financial meltdown. It’s documented. Got away with it then and will now
Newgrasser
https://www.huffpost.com/entry/richard-burr-stocks_n_5e74cc16c5b63c3b648edb79?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guc
CiaranMcHale
Legal question: is it insider trading if the material non-public information is not about the company?
Snooj
Nothing will come of this. We'll read it, be mad, make some noise, and life will move on. That's why it happened and will happen again.
LewsTherinxxx
Can this GoVote bot fuck off already?
PoppaBeenSmoothSinceTheDaysOfUnderoos
Shocker, a US politician is a giant piece of shit. When do we finally get out the pitchforks and say enough is enough
confanity
How about this November you try the halfway step of getting all your friends together and voting for the rule-of-law party, the Democrats.
OdinYggd
Now? I think Now is good. Normality is already broken, before we go back to normality lets actually solve the problems.
AgamemnonsMemes
Sorry, social distancing is in order
NorthwestOfNowhere
Let me know when you see the unspoken signal. I have an extra pitchfork for you.
MissMittens
Sorry, I respect the 8th amendment, even for politicians. Guillotines are the only way I'm content with.
NorthwestOfNowhere
I accept this criticism as valid. Where are the engineers at? Gotta ask about a "public works" project.
CheeseborgarSoop
They should not be allowed to buy it back now.
skribs
Not just Republicans. Feinstein as well. People are just shitty, and politicians even moreso.
Donttouchthatwithoutgloves
Not defending them. But it seems like you don't need to be in the Intel committee to know that a global pandemic is going to crash markets.
dallywhacker
Fuck yes, fucking dead on!!!! thank you for that. I thought I was the only one
ShaneGadsby
Their trades were on the first trade day after their direct briefing of the issue.
Jess1988NY
We know senators from both parties did this, its the corruption in politics at work and as more time passes we will learn of more people
tls72
Now we starting to understand how these scumbags come into congress with some money and become millionaires.
waitdoyounot
I hate some of these individuals but regardless it needs to be checked that their sales were irregular. They are allowed to trade.
confanity
Selling off all your fucking stock immediately after a coronavirus briefing... there, the checking is done.
waitdoyounot
Not taking about any actual case, but what if their blind trust sold it because they are worried about the virus.
confanity
That would be weird when the entire GOP was pumping up the stock market and declaring everything was safe, and nobody else was mass selling.
kalvindeane
Do you trade stocks?
confanity
Do you ask relevant questions?
DawgUK
Indeed, and insider trading is only possible if you're a director of the business that you have shares in. Otherwise this is just business.
confanity
That's just false.
waitdoyounot
Yeah. Not sure about that. Maybe by definition (not a legal person) but that’s not what I meant. Politicians can have blind trusts
Gilgamech
"Next up at noon, heads roll!"
dallywhacker
This is not insider trading.
Wadswoot
There is nothing wrong with what they did. They sold their stock because the TV was scaring the masses and when the masses get scared he 1/2
Wadswoot
Knows that stock drops... So even if he believed there was nothing to be afraid of it still makes sense that he sold all of his stock!
Govote
You can check your voter registration at vote.gov
Emperorkrulos
while it might feel good, that is an individual approach to a systemic problem and will functionally change nothing.
Govote
Does this guy think he's voting alone? It's true that 40% of America doesn't vote though, do you? Check at vote.gov
Emperorkrulos
If voting changed anything, it would be illegal. The system is rigged, you're living in a pipe dream.
Govote
Don't be like this sad sack. Fight back! Check your voter registration at vote.gov
Emperorkrulos
Lol, fight back? The tactics you use are literally useless. Only mass direct action can make any meaningful change.
iAmLordBeer
Honestly got to ask, how did you land this gig? I spent years campaign hopping on couches. You get to play on imgur. Respect.
Govote
LOL unpaid. When I see something that makes me think "damn ppl should vote" I post "you can check your voter registration at vote.gov" 1/2
Govote
And you can too. Copy paste and conquer my friend!
BlONlC
JupitersWitch
Illegal insider trading is the ability to make a profit based on info. other people can't get. That's all.
Nolurkeranymore
Can anybody explain to a german what a stock is and what this selling means?
LollipopFromHell
They were just being good Trump cultists and fucking over the people and only caring about THEIR money and NOT the health of the people MAGA
burningitchyrash
Diane Feinstein is definately in that group..
Jess1988NY
The full list of pols who sold are bi-partisan. Both groups are full of corruption
LollipopFromHell
I'm ready to believe you: please show me the sources.I'm open to it.
Jess1988NY
You mean aside from it being mentioned in the actual article if you clicked the link? Dianne Feinstein 28 year Dem senator for one
Jess1988NY
It is 4 senators for now, but more might come up soon https://www.rollcall.com/2020/03/20/senators-unload-stock-after-briefings/
Oteneo
Yeah Trump sucks but don't think Democrats don't do this. Nancy Pelosi has made over 100 million on insider trading.
LollipopFromHell
I'm ready to believe you: please show me the sources.I'm open to it.
Oteneo
https://www.youtube.com/watch?v=rXCrqq-NUBY
DubhIainn
They shouldn't have and it is a crime. But seriously, if I had a portfolio I'd have started selling it off in January when this became clear
grimwyrd
This is baseless media rabble-rousing for clicks. Investment managers were already making these moves based on public information.
ErnestDoodler
Diane Feinstein (D) did too. Greed is greed, I'm surprised there weren't more tbh. Guess we'll find out in time.
QuickLighting53
Investigate her too then? Hers were a med company that actually went UP though. Also... BoTH SidES!! Hurrrr durrr
ErnestDoodler
You can tell a lot about the downvotes, can't you? iTs nOt A cRimE wHEn mY SIde doEs iT!! Hurr durr
QuickLighting53
Investigate. Her. Too. Fucking moron
ErnestDoodler
I read that. As you can see the downvotes on my comment shows the leftist side doesn't want to hear it. Did you think I was disagreeing with
ErnestDoodler
You? Of course not. Investigate them all is right.
iAmLordBeer
We're all for investigations here, but the comparison is ridiculous. The moves made by Burr and Loeffler were clearly influenced by this /1
Jarjarthejedi
Don't want to hear your claims that somehow "the other side doesn't care when they do it" when all evidence is to the contrary? Yeah, most
Gargwill
"Leftist" people keep using that word, I do not think it means what they think it means.
flippsi
Guys, it’s not illegal to sell your stocks. It’s only illegal to sell all the stocks in your company if you’re a majority share holder.
NKato
It's illegal to sell your stocks on the basis of information that is not publicly available.
dallywhacker
*Information about a particular company
flippsi
It’s pretty common knowledge the hotel industry is going to shit because of no travel lol it was a totally rational move to liquidate
NKato
Yes, but doing so right after a closed-doors, private meeting in which the information they were told was not public knowledge? No. 1/2
[deleted]
[deleted]
NKato
Either way...poor form.
NKato
I would've been fine with them dumping the stock at the beginning of the month, but *now*? Wow. Fuck them. 2/2
B3N15
Honestly, I think the best thing to do is document it contemporaneously and come back to it when the crisis is over. It's not really the...
B3N15
time to deal with it right now.
EroticZombiePants
On a serious note, what is going to be a good Next Great Depression proof stock to invest in? Asking for myself.
seedye
I had stock in 73 companies at one point. I’ve been gradually selling them off because it takes a lot of time to track, and my active 1/
seedye
involvment did nothing to improve my returns. The best investors, statistically, are dead people who left their accounts open. 2/
seedye
They outperform the best fund managers. Your best bet is Vanguard index fund, or automated investment like Betterment. Keep putting 1/
seedye
money in, ignore it, don’t sell in a panic, don’t buy the next hot thing. Look at target-year retirement funds for the long haul. 4/
seedye
It’s never too late to start, I didn’t until 2013. 5/5
CiaranMcHale
I recommend investing $15 in the book "Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School".
nojustsayitdont
No stock is depression proof. But once things tank, buy companies that actually produce something besides advertisement space.
ADisturbinglyAttractiveCactus
Charmin.
Everfearful
Winchester and Federal.
lawideas
Cool how they mention all the Republicans who sold stock after that meeting, but no mention of Diane Feinstein who also did it.
CatsUpvoteTerror
Because she did it legally. S blind trust ran by her husband who totally gets no insider info from her.
lawideas
Right. There's no way her husband could possibly get information from her and it's just a coincidence he sold $6 million in stocks that day.
B3N15
She also wasn't in the same meeting as the others.
iAmLordBeer
1. Blind trust. 2. She wasn't in the meeting. 3. The stock sold was at a 5 year low at the time. 4. She lost money on the trade.
AnimalRescueGuy
And what will happen to the lot of them? Nothing. Even our voting shows we don’t want change. We just want business as usual.
Idoitallforthecookies
I dont think people dont want change. I believe most find it hard to believe in the people's power to affect that change. Game's rigged.
mmckee44
While what they did is now illegal, it would be prosecuted by AG Bill Barr but so far there is no evidence Hunter Biden was involved.
georgejimmydoodle
He's asking a Republican to investigate him. We've seen how that shit goes.
InsouciantSausage
Imagine appointing your prosecutor.
Vysard
Voting doesn't make a bit of difference. We're picking from a variety of rich, entitled people who have been groomed to do this shit.
MoreButterForMyHam
The rest of the Senate will write them a strongly worded letter, saying how disappointed they are
shyriath
And shake their fingers.
EroticZombiePants
that they got caught
NeverConfusedForNaught
And maybe give them a 500$ fine
NKato
Actually, a matter like this falls under the purview of the DOJ. With William Barr at the helm, prospects don't seem so hot.
PropainAndPropainAccesories
Our voting doesn’t show anything. I’m still surprised people believe in the illusion of choice they’ve granted us, like to actually matters
Emperorkrulos
I'm arguing with some sad sack rn who thinks voting is effective. Fighting a war with "thoughts and prayers" essentially.
picofemtomicro
Sounds like it's time for a revolution.
PropainAndPropainAccesories
Once people’s money starts to run out and they see the billionaires still eating they will go hungry. The last time wealth disparity was —
PropainAndPropainAccesories
This high and the world so shitty was the French Revolution. Guess what they did? Yeah. It’s time to again. It’s going to be soon.
jammwill
Typical Republican scum. How anyone could vote Republican at this point is beyond me
Uptightandwhite
You know Feinstein sold up to $6m and is on the same committee...
xilfxlegion
Funny how the article neglects to mention the democrats that were in on the same deal
LazloBasement
Because it looks like the Dems actually bothered to put them in blind trusts. Lumping them in as well would've, at best, been irresponsible.
ketochris
Democrats did it too.
C0mmanderX
That's just as bad as saying all Muslims are terrorists..
Jess1988NY
there are multiple democrats too, the headline only referred to republicans
WanPannnnnnnnnnnnch
I sold mine, not a replublican :/
TrevorfromGTA5ismyalterego
Feinstein did it too, power can corrupt anyone
DoctorPitt
Typical Democrat scum. How anyone could vote Democrat at this point is beyond me. /s
PhilipJFryIII
Yeah lets get rid of both sides and add like 20 new sides. Then we roll a d20 1d4+1 times and those 2-5 are the ones who get to run.
iAmLordBeer
1. Her money was in a blind trust. 2. She wasn't in the meeting. 3. The stock sold was at a 5yr low. 4. She lost money on the trade.
atualh
Not the same. Her asset is on a trust fund.
Predicto
Feinstein's assets are in a trust fund.
jammwill
Don't see any dems on the list of those implicated at first, but you're right - feinstein is on the list
Delta2Almanac
I really hope you don't think all Republicans are like this. Myself and many others are furious about this. It's wrong no matter what party
dioxane
Conveniently on the list but not mentioned.
buttonguy3
This happens on both sides. Dont paint with a wide brush.
TheWombatStrikesAgain
But not to the same degree. Not even remotely.
Imjusthereforthecomments
Yeeeaaahhh but Republicans are pretty demonstrably worse.
scottscottwillgetyoulost
Both sides in my country keep texting me to "vote (insert party) all the way down the ballot." That's how we got in this mess in the first
scottscottwillgetyoulost
Place. Both sides suck since neither wants to meet in the middle and make progress.
scottscottwillgetyoulost
It angers me beyond reason that mentality (voting only on party lines instead of researching each candidate) is incredibly prevalent.
scottscottwillgetyoulost
County*
Hotsauceman
I might not know legal stuff, but if I remember well there was a person who had a cooking show that did insider trading and is now a felon.
Steelwind
Pretty sure they put in legislation allowing them to do it. Not saying it is right but...
azazyel
Actually no, in 2012 they created a law to stop this from happening. It's called the STOCK act
TheMechanick
Link us? Did they do this through a loophole or are we just witnessing non-prosecution?
AeonQuasars
https://en.m.wikipedia.org/wiki/STOCK_Act Wikipedia, so not super reliable, but I bet this is accurate.
TheMechanick
The bill seems straightforward. Is there a consensus on why these trades aren't being investigated by the SEC? My guess is proxies.
ThunderStrike2021
The difference is that it’s not illegal for politicians because reasons.
Seggs
and all that she did was sell her stocks when someone she knew said, "hey, now might be a good time to sell" without any context
TotallySaneScientist
They didn't have any insider information that would have been significantly more useful than what we all had, the thing that is so terrible-
TotallySaneScientist
-about what they've done is acted one way, 'this is going to be a big deal', and advised the public in another, 'it's a media/rep con'.
TotallySaneScientist
I think the WORST part of this is that the information was not a secret, it was public and they acted in their own interest to PLAY IT DOWN.
TormentedPenguin
Snoop? Didn't he do a cooking show with that criminal lady!
MPinky
It is an SEC and Federal violation and someone earlier linked a line to the exact law stating where sentate/house of rep' isn't exempt
Tomadzo
Convicted for obstruction. They couldn’t make insider trading charge stock bcus of the obstruction. Just clarifying
WesVTX
Convicted for not cooperating with federal investigation that did not produce valid charge, let alone conviction.
friendsofsandwiches
I hope some of our higher ups in office never do anything like THAT! Or if they did, they would have to go to jail or at least give up seat
TheatreStreet
Clear them out.
friendsofsandwiches
hey, I see you met my younger self. Please be kind to them, they're a bit naive. They have NO idea what's coming next.
DearSweetBabyYoda
Only because she wasn't a senator. It's driving without a license.
neithermenoryou
The Obama administration didn't sign the STOCK act that makes this behavior illegal. Alas, the only people to possible prosecute it are the
neithermenoryou
ones who did the deed.
neithermenoryou
Also, I meant "did sign the STOCK act", not didn't. Stupid fingers.
atleastivegotthisusernamegoingformewhichisnice
someguyonimgur2324
Only she was convicted of lying to investigators, not insider trading.
Govote
Good thing she's not in office. You can check your voter registration at vote.gov
Inarticulated
purdhapley
Snoop dogg?
katsumiblisk
Snoop’s bitch?
HeShallKnowYourWaysAsIfBornToThem
They'll go to prison, just like Martha.
Exevium
We all kinda had the feeling this could go very bad back then, wouldn't exactly call it insider information
Delta2Almanac
Are you talking bout that white chick who's friends with Snoop??
homicidalkoala
Martha Stewart
Hotsauceman
You mean the Wayne Brother’s movie?
Shitheid
GrandPubabofMoldistan
You mean the other half of the best cooking show?
inb4zombies
ay y’all talking about Snoop’s side piece??
3006mv
She did her time
nonCanadianGoose
Ppl are confusing the health issue with the economic issue. It was well known at 1/24 that there was a pandemic that was going to severely>
nonCanadianGoose
>effect business & the Chinese market. They were already losing money from canceled conventions. The Chinese were hoping to use lunar new>
nonCanadianGoose
>break to recover. They were guessing the wouldn’t. From what I’ve read, none sold until after the meeting. The issue was already a well>
nonCanadianGoose
>known problem. So it’s not insider trading. The fact that most Americans don’t follow international business news isn’t their fault. >
nonCanadianGoose
>on 1/24, Korea, Japan, & Italy weren’t anticipating a nationwide lockdown, so there’s no reason to think a bunch of delusional senators>