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The DC dirty... it really is a swamp of insider corruption

MrMike

MrMike

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Not that it's a new revelation, but the amount of insider trading going on in DC and the favors being passed around has been going on for some time. It is no wonder why so many officials "public servants" go into office on a government salary and come out millionaires. Pelosi, Boehner, and more. I wonder how far down the rabbit hole of government this type of "wink wink" corruption goes?

After researching it a bit, I do not think the Collin's guy will have a good defense for his insider trading activities and nor should he. I wonder if there will be a movement to clean up the rest of the mess in DC?

Confronting Pelosi on insider trading

When Nancy Pelosi, John Boehner, and other lawmakers wouldn't answer Steve Kroft's questions about insider trading, he headed to Washington to get some answers about their stock trades.



https://www.cbsnews.com/news/confronting-pelosi-on-insider-trading/
 
MrMike said:
Not that it's a new revelation, but the amount of insider trading going on in DC and the favors being passed around has been going on for some time. It is no wonder why so many officials "public servants" go into office on a government salary and come out millionaires. Pelosi, Boehner, and more. I wonder how far down the rabbit hole of government this type of "wink wink" corruption goes?

After researching it a bit, I do not think the Collin's guy will have a good defense for his insider trading activities and nor should he. I wonder if there will be a movement to clean up the rest of the mess in DC?

Confronting Pelosi on insider trading

When Nancy Pelosi, John Boehner, and other lawmakers wouldn't answer Steve Kroft's questions about insider trading, he headed to Washington to get some answers about their stock trades.

https://www.cbsnews.com/news/confronting-pelosi-on-insider-trading/
Click to expand...

So it depends specifically what part of insider trading you are talking about because, currently, congress critters are exempt from most rules on insider trading.
 
MrMike said:
Not that it's a new revelation, but the amount of insider trading going on in DC and the favors being passed around has been going on for some time. It is no wonder why so many officials "public servants" go into office on a government salary and come out millionaires. Pelosi, Boehner, and more. I wonder how far down the rabbit hole of government this type of "wink wink" corruption goes?

After researching it a bit, I do not think the Collin's guy will have a good defense for his insider trading activities and nor should he. I wonder if there will be a movement to clean up the rest of the mess in DC?

Confronting Pelosi on insider trading

When Nancy Pelosi, John Boehner, and other lawmakers wouldn't answer Steve Kroft's questions about insider trading, he headed to Washington to get some answers about their stock trades.



https://www.cbsnews.com/news/confronting-pelosi-on-insider-trading/
Click to expand...


Amazing how many conservatives like and religiously watch 60 minutes.
 
Praxas said:
So it depends specifically what part of insider trading you are talking about because, currently, congress critters are exempt from most rules on insider trading.
Click to expand...

Oh how so very convenient for them.
 
Praxas said:
So it depends specifically what part of insider trading you are talking about because, currently, congress critters are exempt from most rules on insider trading.
Click to expand...

Yeah, isn't that weird?

Seems if anything, they should have more oversight into their activities (especially those that tend to favor policies that aid their investments).
 
MrMike said:
Yeah, isn't that weird?

Seems if anything, they should have more oversight into their activities (especially those that tend to favor policies that aid their investments).
Click to expand...

...What!!!??? Rules and restrictions against our Ruling Class!!?? Heaven forbid.
 
Ikari said:
Oh how so very convenient for them.
Click to expand...

Yeppers...

I bet they could look back over decades and the amount of graft and wealth generation in DC from those types of activities by politicians would be incredible.
 
NeverTrumpGOP said:
Amazing how many conservatives like and religiously watch 60 minutes.
Click to expand...


Amazing that that would be your comment after watching the video.


I don't care if it's Pelosi, Boehner or any other Congressperson, they should be in jail if they abuse their power to enrich themselves. It's infuriating that Congress is exempt from insider trading violations when the rest of us would go to jail.
 
Ikari said:
Oh how so very convenient for them.
Click to expand...


MrMike said:
Yeah, isn't that weird?

Seems if anything, they should have more oversight into their activities (especially those that tend to favor policies that aid their investments).
Click to expand...

Yeah, it's complete bull****. I see no reason that they should be afforded that ability.
 
Praxas said:
Yeah, it's complete bull****. I see no reason that they should be afforded that ability.
Click to expand...

Well how else are they supposed to make money, or give information away to their big contributor friends?
 
MrMike said:
Yeah, isn't that weird?

Seems if anything, they should have more oversight into their activities (especially those that tend to favor policies that aid their investments).
Click to expand...

Iirc the justification is something like lots of things that might affect stock prices get voted on by congress and a congressperson could innocently vote in favor of something that just happens to improve their portfolio.

So they are exempt from insider trading rules so they can continue to invest without the appearance of impropriety.

Which those congresscritters interpreted as its OK for them to indulge in insider trading
 
It's the old story the foxes are guarding the hen house. Shameful conduct!!
 
Rexedgar said:
That’s why the STOCK Act was passed in 2012.

https://en.wikipedia.org/wiki/STOCK_Act


Like Paul Harvey used to say, “that is the rest of the story....”
Click to expand...


Do you all realize (lefties or righties or whatever your slant is here) that the biggest thing our collective government fears is us?

They know that when we set aside the manufactured political division of the population they have carefully cultivated over decades that we collectively hold them accountable and to task? It kind of ruins things (the usual game they play) for them doesn't it?

I hope one day to see more of that, than less...
 
For example I am not convinced Rep Chris Collins, just arrested would have gotten in trouble for selling his stock in Innate. He simply couldn't because Innate is an Australian Company and the Australian stock exchange closed off trading in the stock on their market before Collins could sell. He would have sold if he could have and likely would not have gotten into much of a bind for it.

But now he is stuck with Criminal charges for Insider Trading because he abused his position as a Board Member of Innate and passed information he only had because he was a board member onto family and friends who could move their shares purchased on the US market before the stock lost 92% of its value. They saved over $750,000 in losses by being able to sell the stock ahead of the news. The drug failed to get past the trial stage with the one drug the entire company was founded upon. When that became publicly known the stock plummeted. Both Collins and the now defunct Tom Price were big fans of this same company and both were bragging about having made millionaires out of many friends over this stock offering....Not quite.
 
dobieg said:
Amazing that that would be your comment after watching the video.


I don't care if it's Pelosi, Boehner or any other Congressperson, they should be in jail if they abuse their power to enrich themselves. It's infuriating that Congress is exempt from insider trading violations when the rest of us would go to jail.
Click to expand...
:thumbs:
 
MrMike said:
Yeppers...

I bet they could look back over decades and the amount of graft and wealth generation in DC from those types of activities by politicians would be incredible.
Click to expand...

No question. And it's nigh universal.

Money corrupts everything.
 
MrMike said:
Do you all realize (lefties or righties or whatever your slant is here) that the biggest thing our collective government fears is us?
Click to expand...

No they're not. They've got us sufficiently divided and acting out on emotionalized hyperpartisanship. It doesn't matter what the Republicans and Democrats do because we'll keep voting for the Republicans and Democrats, loyally, ceaselessly, endlessly. They have no fear of losing power, and thus no concern with controls by The People.
 
Ikari said:
No they're not. They've got us sufficiently divided and acting out on emotionalized hyperpartisanship. It doesn't matter what the Republicans and Democrats do because we'll keep voting for the Republicans and Democrats, loyally, ceaselessly, endlessly. They have no fear of losing power, and thus no concern with controls by The People.
Click to expand...

That is an unfortunate truth. As long as the congressman/woman has a majority of his/her party voting he can do whatever and still be elected. The voters are as absurdly partisan as the people we elect.
 
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