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Discussion » Questions » Current Events and News » When will the trial for insider trading start?

When will the trial for insider trading start?

Pelosi's husband buys $1M in Telsa stock just before Biden annouces plan to convert federal cars into all electric. 

Posted - January 30

Responses


  • 6418
    Wow, what timing. 
      January 30, 2021 12:04 PM MST
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  • 27238
    Yep, imagine that.

    Almost as bad as the woman who lost in GA Sen.  She suddenly decided to invest in telemedicine.

    There is a reason all of them are are rich. This post was edited by my2cents at January 30, 2021 2:16 PM MST
      January 30, 2021 1:06 PM MST
    1

  • 18351
    The trial will begin right after the trials of richard Burr, Kelly Loeffler and David Purdue, all Repubicans who appear to have participated in insider trading.

    "Sen. Richard Burr, a Republican from North Carolina and chairman of the Senate Intelligence Committee, reportedly sold between $500,000 and $1.5 million in stock during February, according to reports from Pro Publica and the Center for Responsive Politics. Ahead of the sales he co-wrote an opinion piece saying the country was “better prepared than ever before” for the virus."

    https://www.marketwatch.com/story/two-senators-are-under-fire-for-selling-stock-before-the-coronavirus-market-crash-but-do-insider-trading-laws-apply-2020-03-20

    "... [T]he breadth of trades Mr. [David] Perdue made in companies that stood to benefit from policy and spending matters that came not just before the Senate as a whole, but before the committees and subcommittees on which he served.

    Nearly half of Mr. Perdue’s FireEye trades, for example, occurred while he sat on the cybersecurity panel, a role that potentially could have provided him with nonpublic information about companies like FireEye. During that period, FireEye landed a subcontract worth more than $30 million with the Army Cyber Command, which had operations at Fort Gordon, in Mr. Perdue’s home state. In 2018, Mr. Perdue reported capital gains of up to $15,000 from FireEye trades.

    And as a member of the Senate banking, housing, and urban affairs committee since 2017, Mr. Perdue bought and sold shares of a number of financial companies his panel oversaw, including JPMorgan Chase, Bank of America and Regions Financial."

    https://www.nytimes.com/2020/12/02/us/politics/david-perdue-stock-trades.html

      January 30, 2021 2:10 PM MST
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  • 27238
    I agree they should be charged as well.  

    They all do this crap. Charge them all and enact term limits. So by the time they figure out how...it is time for them to go get a real job.
      January 30, 2021 2:40 PM MST
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  • 18351
    It doesn't take them long to figure out how to game the system and screw the taxpayers.
      January 30, 2021 4:54 PM MST
    1

  • 27238
    But if we start throwing them in jail by the time they get brave enough to try they be out of office. 
      January 30, 2021 5:21 PM MST
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  • 18351
    They're already corrupt by the time they run for office.

      January 31, 2021 10:12 AM MST
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  • 27238
    I do not think all of them are.  Many yes. 
      January 31, 2021 11:15 AM MST
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  • 18351

    Well, if they don't become even a little corrupt, they don't get any of their bills brought up for a vote.  So, at some point, they go along to get along or they get going.

      January 31, 2021 9:50 PM MST
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  • 98
    Technically it's totally illegal for members of congress to insider trade, but there won't be a trial, they all do it, it's how they get rich. Just last year there was an insider trading scandal when members of congress sold millions of dollars of stock prior to the market crash. The justice department launched an investigation and then quietly closed it without bringing charges. Business as usual.
      January 30, 2021 2:12 PM MST
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  • 18351
    Exactly, but I can assure you that if someone not in politics does that, they are investigated inside and out.
      January 30, 2021 2:16 PM MST
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  • 27238
    Yep. But our DOJ will never prosecute anyone in Congress for it.
      January 30, 2021 2:44 PM MST
    1