Wait, is this propublica story for real? North Carolina Senator, he’s heads the Senate Intelligence committee dumped up to $1.7 millions of stock after he found out it was a problem in January of 2020?
Where is the all might SEC and FBI ? Why wasn’t this activity detected and prosecuted like the entrepreneurs and other citizens? Reports from intelligence community is definitely material information about stocks.
I guess the world really is an unfair place, even if you live in America.
Shouldn’t he know the laws, having argued against the STOCK a Act, stating insider trading rules already applies to government officials. and since he is not “inside” The travel and hospitality companies, he is not subject to insider laws.
Fox News is prompt to report fellow senator Diane Feinstein also sold up to six million shares of some drug company in February. Of course, if you look at all these sales, Feinstein’s especially, it looks like a stop-loss situation… Feinstein’s sold a million shares at 30% discount from about 50 day’s before a day in January 2020. Then when price recovered a little two weeks later in February, it would appear that they sold the rest. If they waited until yesterday (a day late into Q1 2020), it would have lost another 25%. But at least she was no longer leading the senate intelligence committee when all these happened. And plus her stock seems less related to the virus than, say, travel and cruise companies as it were in the other senators case.
I find the Senate financial disclosure site promogated by ProPublica to be very accessible. Everyone should know about this. And man do these Congress persons have a thing for names, I see a Boozman here, there’s a Blunt, a Whitehouse, Cantwell, Simpson, multiple Graves, McGovern, there’s an Adam Smith,… this was a sad news cycle, reading names is more interesting.
Unfair advantages be damned I guess. I mean if political offices can be bought with campaign money, and if you are a politician and you can use secret information to make money… I mean, I don’t see the problem here.
Why doesn’t the SEC prosecute him? Why doesn’t the attorney general investigate him? Why doesn’t the people of North Carolina, all those who lost money these last few weeks, just call a referendum and dump this guy? I know we would in California if we though Feinstein took into consideration when dumping millions of dollars of stock.
Let’s see what happens, I guess, as president trump likes to say, let’s see what happens.