Posted on 03/20/2020 6:17:06 AM PDT by USA Conservative
This morning news broke out that four Republican senators are being accused of dumping their stocks after being briefed on the coronavirus in private meetings.
Richard Burr of North Carolina, Kelly Loeffler of Georgia, James Inhofe of Oklahoma and Ron Johnson from Wisconsin.
The mainstream media was quick to attack the GOP members as corrupt but it seems they are not alone.
Democratic senator Dianne Feinstein of California is also accused of insider trading.
Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, Fox News reported.
This morning news broke out that four Republican senators are being accused of dumping their stocks after being briefed on the coronavirus in private meetings.
Richard Burr of North Carolina, Kelly Loeffler of Georgia, James Inhofe of Oklahoma and Ron Johnson from Wisconsin.
The mainstream media was quick to attack the GOP members as corrupt but it seems they are not alone.
Democratic senator Dianne Feinstein of California is also accused of insider trading.
Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, Fox News reported.
When questioned by the newspaper, a spokesman for the Democrat from San Francisco said Feinstein wasn’t directly involved in the sale.
“All of Senator Feinstein’s assets are in a blind trust,” the spokesman, Tom Mentzer, told the Times. “She has no involvement in her husband’s financial decisions.”
Under the Stock act, if proven guilty of insider trading she faces up to 20 years in prison. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000.
From Wikipedia:
The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.
The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 96–3 vote. Later the House of Representatives passed it by a 417–2 vote. The bill was supported heavily by vulnerable incumbents and signed into law by President Obama. According to the current United States Senate Select Committee on Ethics, “A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee.”
The maximum prison sentence for an insider trading violation is now 20 years. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000.
This is nothing new when it comes to high ranking Democrats.
A few years back a huge scandal burst out but the Dems made a cover-up of everything as always.
Steve Kroft reported that members of Congress can legally trade stock based on non-public information from Capitol Hill and the main star of the show was Nancy Pelosi.
Pelosi and her husband participated in an initial public offering of Visa in 2008, according to CBS. They bought 5,000 shares at the initial price of $44; two days later, shares were trading at $64, CBS said.
The network reported the investment came at the same time a piece of legislation that was opposed by credit-card companies was making its way through the House.
“Congress has never done more for consumers nor has the Congress passed more critical reforms of the credit card industry than under the Speakership of Nancy Pelosi,” Pelosi spokesman, Drew Hammill, said in a statement few days after the report came out.
CBS said it used as a starting point for its story the research of Peter Schweizer, a fellow at the Hoover Institution, a conservative think tank at Stanford University.
About a year ago, he began work on a book about “soft corruption” in Washington, CBS reported. The network said it had independently verified the material it used.
Pelosi’s spokesman criticized the CBS story for failing to note that the “legislation in question was reported out of the Judiciary Committee on October 3, 2008 — the day the House was consumed in passing TARP and also the last day the House was in session before the November election.”
You can watch the preview of the show and the full show below! Preview:
https://www.youtube.com/watch?v=PVcSVs0pdOg&feature=emb_title Video: https://www.youtube.com/watch?v=l3DZh1109W8&feature=emb_title
Democrats leadership are the most corrupt politicians in the history of our country and we the people are being abused by them.
Every time our country makes significant success the Dems are here to ruin that.
Also, don’t forget the swamp creatures from the GOP they should all answer for their crimes.
Please share this article wherever you can. It is the only way we can work around their censorship and ensure people receive news about issues that Democrats and the mainstream media suppress.
Millions sold stock...at the same time. I sold mine in Decemeber. Did I have insiders information? INGT
Congress made it legal for themselves to commit inside trading. They made it illegal a few years ago and then went back and inserted the protection provisions basically in the middle of the night
Jim Cramer mentioned the virus on January 31st. I provided a link.
These people, all of these people, need to be held accountable.
28th Amendment- Congress can pass no law that is not prevents accountability and prosecution of existing laws to Congress People.
So, how long do members of Congress have to hold on to stocks before they are allowed to sell?
2 days, 4 days, 2 wks?
I think this is nonsense.
Burr sold stock in the hotel industry, Feinstein, biotech. Who looks more guilty to you?
Many investment firms offer managed solutions where your firm can make trades on your behalf with your holdings. They tend to produce a little less upside, but they do tend to protect you well on the downside.
These questionable trades could have all been done legally with these managed solutions or stop loss triggers.
Would guess that's what they had in their portfolis......duh...
AND THE HOUSE? Did Democrat Schiff dump stock based on secret intel he had access to?
Adam Schiff is the head of the House intelligence committee, and has access to the government’s most highly classified information about threats to America’s security.
The intel committee was receiving daily coronavirus briefings, according to a Reuters story.
The stock market then began a sharp decline.
On Thursday, Schiff’s Senate counterpart, came under fire after NPR obtained a secret recording from Feb. 27, in which Intel chair Sen Burr gave a VIP group at the exclusive social club a much more dire preview of the economic impact of the coronavirus than what he had told the public.
“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,” his spokesperson said. “As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”
If the assets are in a blind trust, then that’s just a good trade by the trustee.
But some trusts are not as blind as the name would have you believe. Any contact between the elected official and the person actually managing the money should be nearly impossible, and in many cases that is not so.
Schiff is a Penlosi confidant----the two who ran the impeachment fiasco.
Congress' intel committees were receiving daily coronavirus briefings, according to a Reuters story.
The stock market then began a sharp decline.
==================================
TALKING POINTS
<><>Did Schiff and Penlosi sell off stock, cashing in BEFORE the public was aware of the crisis?
<><> did they fail to file the required financial transacion forms?
<><> did they file falsified transaction forms?
ACTION NOW
Judicial Watch
425 3rd Street, SW, Suite 800
Washington, DC 20024
TELE 1-888-593-8442 between 8:30am and 5:30pm EST.
Civil Rights Division of the Department of Justice How to file a complaint: https://www.justice.gov/crt/how-file-complaint
Call President Trump: Comments: 202-456-1111 Switchboard: 202-456-1414
WH EMAIL CONTACT PAGE https://www.whitehouse.gov/contact/
US CONGRESS SWITCHBOARD: (202) 224-3121
U.S. Department of Justice
Comment Line: 202-353-1555
Switchboard: 202-514-2000
FBI tip line web site----https://www.fbi.gov/tips
FBI electronic fraud unit----www.fbi.gov/scams-and-safety/common-fraud-schemes/internet-fraud
FBI Major Case Contact Center: 1-800-CALL-FBI (225-5324)
CONTACT--- EMAIL enforcement@SEC.gov
This is a typical narrative being pushed so that the DUmocrats retain Congress. They’re always pushing the “inequality” class-warfare type of stories. Until Hitlery’s “cattle futures” are investigated, it’s a non-issue.
You can fax free from here:
https://faxzero.com/fax_senate.php
You can get phone numbers here:
https://contactsenators.com/party.php?party=republican
NO Thanks to you for posting this drivel.
It is PHONY and FAKE News.
If anyone thinks these Senators operate like “Day Traders” you have a screw loose. They turn their portfolios over to professionals who are PAID to manage them.
PLEASE STOP POSTING this story. It makes FR a little dumber every time it is posted.
Burr walks out of confidential meeting where he has been told travel will probably be shut down, he immediately sells his hotel stocks. Feinstein is in the meeting where she’s told about a biothreat about to decimate our economy that needs a cure and treatment, she sells her bio stock. Yeah, Americans won’t see a difference.
The entire congress is in on this communist takeover plan.
Phase 1 was gaslighting the sheeple into thinking they will die without government intervention.
Phase 2 is control the people and shutdown their businesses.
Phase 3 is government providing payment for business rents and payroll.
Phase 4 is the government simply stating that since the government already pays for everything that the government now owns the businesses.
Communism complete: Total control of the sheeple and a complete takeover of commerce.
It’s the Keating Five in reverse. 4 Republicans and (just to make it interesting) 1 Democrat. I predict, just as then, the 1 Democrat & 1 Republican (probably Imhofe since he comes from the reddest state) will be given a ‘pass’ and the other 3 will go down to defeat in November because of the bad publicity.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.