Virus thread, the political one.

[fastupslowdown]

Are congressional representatives really excluded from federal insider trading laws (serious question)?

I thought so. there was a big brouhaha a few months ago about someone buying stock after getting a briefing but now i can't find it. it might be only legal in some situations. trying to find it

[fastupslowdown]

Insider trading used to run wild among politicians

looks like its been illegal for several years now.

[vertical_doug]

True insider trading where Chris Collins used non-public information on a specific company is easy to prosecute as insider trading. Selling or buying on a confidential intel briefing, is not technically insider trading. The clowns did it before when negotiating Obamacare bills. It's unethical, but I doubt it can be prosecuted.

[vertical_doug]

[fastupslowdown]

so for it to be insider trading, looks like a senator would have had to have specific information about a particular company that the public couldn't have. in this case they were getting advance information that the economy was about to tank. ma not be illegal, just unethical

[Tom]

Can it be termed material non-public information?

When I look at it I hear "Quack, quack quack" and see waddling and tail wiggling...

[Blue Jays]

"...Why don't you hold the President of your country to the same standards you expect of your fellow members of this online forum?..."

Funny you should mention that. President Trump and I spoke by telephone just this morning for about 20 minutes.
He is a member here at VSalon and enjoys my posts. We shared ideas for economic recovery and he will implement aspects of my plan.

[thollandpe]

Three weeks ago, on the same day that IMPOTUS says "It's going to disappear. One day, It's like a miracle. It will disappear... It could get worse before it gets better. It could maybe go away. We'll see what happens."

That very same day, Sen. Richard Burr, chair of the Senate Intelligence Committee, tells a small private meeting of well-heeled constituents at the Capitol Hill Club, "There's one thing that I can tell you about this, it is much more aggressive in its transmission than anything that we have seen in recent history. It is probably more akin to the 1918 pandemic."

Holy dereliction of duty, Batman.
Intelligence Chairman Raised Virus Alarms Weeks Ago, Secret Recording Shows - NPR Morning Edition

He's not up for re-election until 2022, but I hope that seals his fate.

Sen. Richard Burr, head of powerful committee, sold large amount of stocks before sharp declines in market

Putting that insider information to good use...

Has anyone or will anyone look at the moves made by the Tar Heel Club (those at Burr's luncheon)? Pretty bad optics (with apologies to the buzzword thread) to be caught covering their financial asses instead of protecting public health. Which turns out to be our health. And all of our asses.

Now we can understand the initial obfuscation and delay in responding to this crisis as a deliberate strategy.

[robin3mj]

STOCK Act - Wikipedia

The STOCK Act is an original bill to prohibit members of Congress and employees of Congress from using private information derived from their official positions for personal benefit, and for other purposes. With this bill in place, members of Congress are no longer allowed to use information garnered through official business for personal reasons. The Stop Trading on Congressional Knowledge (STOCK) Act prohibits members and employees of Congress from using "any nonpublic information derived from the individual's position ... or gained from performance of the individual's duties, for personal benefit". The bill also applies to all employees in the Executive and Judicial branches of the federal government. The STOCK Act requires a one-year study of the growing political intelligence industry, and requires every Member of Congress to publicly file and disclose any financial transaction of stocks, bond, commodities futures, and other securities within 45 days on their websites, rather than once a year as they do now. The Act also requires members of Congress and Executive branch officials to disclose the terms of mortgages on their homes, prohibits them from receiving special access to initial public stock offerings, and denies federal pensions to members of Congress who are convicted of felonies involving public corruption. The bill is divided into nineteen sections

[nahtnoj]

Burr is one of the key people standing between Trump and more Russian fuckery in the 2020 election. Did he do something bad? Yes. Is Trump world turning on him for the right reasons? No.

[caleb]

Can I once again register my disappointment in the Democrats?

W(hy)TF do they always fall into the trap of income grading everything? I'm thinking about these stimulus checks. Romney proposed $1000 for every man, woman, and child. Take him up on it, and automate those checks for the first of every month for the next eight months. Do you think people will like it? Do you think they'll want to keep them coming? Do you think making the coming general election effectively about keeping a UBI that's already in place would result in a D landslide? Never forget that people care more about losing what they have than about a hypothetical promise for future payoff.

But no, they're caught in the land of pissing over where income cutoffs and phase-ins and phase-outs should go. In short, the sort of crap that nobody votes on. Because heaven forbid someone who is too poor or too rich get the same amount as everyone else just by being an American.

I get it that most Dems in Congress aren't interested in major economic change. But can't they at least figure out how to win a majority so they can upgrade their offices?

[guido]

Opinion | They. Sold. Their. Stock. - The New York Times

[gregl]

Trump, promoting unproven drug treatments, insults NBC reporter at coronavirus briefing

The most disgusting, vile, stupid, incompetent, mentally ill person to ever lead this country. Spewing falsehoods and claiming knowledge, then accosting someone for a reasonable question. How any rationale adult can vote for this man is impossible to understand.

Greg

[Blue Jays]

Democrat plans to attempt to viciously demonize this heroic wartime President are going to backfire bigly.
We are in a global struggle for our lives. President Trump is knocking down barriers to vaccines and cures.

American citizens are happy to see a leader like President Trump who puts America First.
He will aim to put us on firm footing to help the nation resume our exceptional pre-virus way of life.

[gregl]

Democrat plans to attempt to viciously demonize this heroic wartime President are going to backfire bigly.
We are in a global struggle for our lives. President Trump is knocking down barriers to vaccines and cures.

I'm a lifelong Republican. I value competence over party affiliation.

Greg

[zachateseverything]

Democrat plans to attempt to viciously demonize this heroic wartime President are going to backfire bigly.
We are in a global struggle for our lives. President Trump is knocking down barriers to vaccines and cures.

American citizens are happy to see a leader like President Trump who puts America First.
He will aim to put us on firm footing to help the nation resume our exceptional pre-virus way of life.

Knocking down barriers by outbidding states for the medical supplies and equipment he told Governors they should get themselves? Ok Comrade.

Massachusetts Governor Says He's Being Outbid by Federal Government For Coronavirus Supplies, Despite Trump Telling Govs to Get Their Own

[j44ke]

Knocking down barriers by outbidding states for the medical supplies and equipment he told Governors they should get themselves? Ok Comrade.

Massachusetts Governor Says He's Being Outbid by Federal Government For Coronavirus Supplies, Despite Trump Telling Govs to Get Their Own

Corner the market, win the election?

[PaMtbRider]

Holy fuck it was painful to watch that incompetent buffoon. I have really tried to avoid commenting but can't comprehend how any sane adult could watch Trump conduct himself today and think he is doing a good job.

[Greg Costello]

"Democrat plans to attempt to viciously demonize this heroic wartime President are going to backfire bigly.
We are in a global struggle for our lives. President Trump is knocking down barriers to vaccines and cures.

American citizens are happy to see a leader like President Trump who puts America First.
He will aim to put us on firm footing to help the nation resume our exceptional pre-virus way of life."


I just threw up in my mouth.

[Tom]

I just threw up in my mouth.

I'm pretty sure he was joking.