Posted on 12/10/2022 11:39:29 PM PST by blueplum
Insider and several other news organizations have identified 76 members of Congress who've recently failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act.
Congress passed the law a decade ago to combat insider trading and conflicts of interest among their own members and force lawmakers to be more transparent about their personal financial dealings....
(Excerpt) Read more at businessinsider.com ...
Corruption everywhere.
BTTT
That’s why they ran for office to begin with. The regular laws do not apply to them. It’s all about privilege and not about serving the people.
Wow.
Ugh. Ugh again. They probably didn’t report themselves because they didn’t even know …..and didn’t want to know what their spouses or dependent children were doing. Likely their financial consultants have carte blanche to make decisions about their portfolios in their best interests. I expected to see more names.
BTW. Their photos all look the same. D or R, Conservative tag or not, all the same.
“I take full responsibility for my lack of blah blah blah.” Sure.
Laws only apply to us chumps. Not them.
Criminals now have protection the weaponized agencies
“While lawmakers who violate the STOCK Act face a fine, the penalty is usually small — $200 is the standard amount — or waived by House or Senate ethics officials. Ethics watchdogs and even some members of Congress have called for stricter penalties or even a ban on federal lawmakers from trading individual stocks.”
Good luck with that. So their spouses or children or siblings or in-laws or cousins or whatever will be the straw buyers. Some kinds of evil can’t be remedied. A better goal would be to go after big traders who deliberately make big buys or sell-offs in order to manipulate the market. That, at least, is doable. Insider trading, though? Like shoveling sh!t against the tide.
By my count, it’s almost even (R 39 and D 37).
Bipartisanship in action. /spit
I’m surprised Nazi Pelousy isn’t on the list.
This should be centralized. 535 members of Congress. Who has time to monitor 535 websites?
It should be a centralized reporting database. Late reports should be flagged as such. And the member should be required to have a link to the database showing their trades on their individual websites.
Are all members even required to have web sites?
The “within 45 days” is a joke. It should be “at least 45 days before transaction”. If they don’t like this law then they should liquidate everything and just get US Treasuries before they take the Oath of Office.
More like 435 house and 50 Senate.
If they are Dem - doesn’t matter.
If they are Rep.- they’ll be prosecuted.
?
A very bad look for Rand Paul, buying stock in the maker of Remdesivir, which is what has actually killed so many of those hospitalized for “Covid”.
It was universally given because the feds made massive hospital funding contingent on it and only it being given, and the Paul family bought the stock in March, 2020—and then reported it more than a year after it was required.
Prohibit active stock trading by members of Congress and their immediate families, put some real teeth into it, and you’d end up with a much less awful breed of congress critters.
There should be no law prohibiting knowledge of a company that influences the stock price.
The concept of Trader Equality is foolsh
This, in part, help explain how a congress critter can do into the position with a net worth in the hundreds of thousands of dollars and come out with tens to hundreds of millions of dollars.
Perhaps their just lucky like Hillary Clinton with cattle futures.
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