Suspicious senate stock sale spurt spurs scrutiny scheme: This website tracks which shares US senators are unloading mid-pandemic Well, if Congress won't do it, we, the geek people, will have to instead, it seems. In the wake of reports last month that four US senators sold stocks shortly after a classified briefing on January 24 about the risk posed by the novel coronavirus, Timothy Carambat, a mechanical and software engineer, created a website to make …
yeah "dishonest politician" - describes MOST of them, especially DEMO[C,N]RATS and ESTABLISHMENT REPUBLOCRATS.
I wonder if they'd EMPEACH THEMSELVES... yeah probably not.
Letting THESE people GRAB MORE POWER during a pandemic is *CRIMINAL* in and of itself. This is reason enough to END THE SHUTDOWNS. [we're ready for it anyway, at least here in the USA, with medications, extra hospital beds, and an emergency supply line for hospital supplies]
(the WAITING and the UNCERTAINTY is DRIVING ME INSANE, as if I could become MORE INSANE than I was, but it seems it's happening...)
looking for straightjacket icon, settling for this
"we're ready for it anyway, at least here in the USA, with medications, extra hospital beds, and an emergency supply line for hospital supplies"
So are you going to be turning away people to die if they don't have adequate health insurance, or are you going to be just treating them but putting them and their families into debt for the next three generations?
we're ready for it anyway, at least here in the USA, with medications, extra hospital beds, and an emergency supply line for hospital supplies
Oh, and Kool-Aid. Lots of Kool-Aid, especially for those who would rather drink than think.
Looks like our buddy Bob has already been imbibing....
What is "EMPEACH"? It sounds like " to make something or someone a shade of orange", which has apparently been done already. Oh, you mean impeach? That has already been done, to little effect as well. When do we get to guillotine?
Most, if not all of those stocks, are held in blind trust for those senators, in theory removing them from any decisions regarding the holdings.
The Wall Street Journal has covered these particular transactions in more detail - it makes for interesting reading and highlights some weaknesses in how transactions are tracked and recorded.
In any case, good on the gentleman for creating this site.
This would only be illegal if the briefing contained company specific information. A general "this is going to be bad for airlines and the hospitality industry" does not qualify as insider information. And I kind of doubt that these confidential briefings had anything more to say on this topic.
The confidential part is almost certainly about stockpiles of masks or the contingency planning of the military.
Good luck with that. The SEC have quite broad opinions on what constitutes insider trading.
Famous case was a train driver who noticed a lot of cars in the visitor parking lot with plates from the state where their much larger competitor was HQ'ed, decided there was probably going to be a takeover and bought stock.
Of course the SEC also has a long history of not wanting to go after the rich and powerful
...a train driver who noticed a lot of cars in the visitor parking lot with plates from the state where their much larger competitor was HQ'ed, decided there was probably going to be a takeover and bought stock.a train driver who noticed a lot of cars in the visitor parking lot with plates from the state where their much larger competitor was HQ'ed, decided there was probably going to be a takeover and bought stock.
A reference would be nice. And this is enviable astuteness, surely it would only be insider trading if he were an trader, or possibly as an employee was told something.
Insider Trading is rather a bogus concept at the best of times, purely moralistic. Whilst it would be nice if company owners didn't pump and dump their own shares, it seems utterly natural that one should act on any information available.
Comment is relevant to the UK
I do not have access to insider information, but am forced to sit through the online course every year.
If the information is available to the public, it is not insider trading and IANAL.
So, if that carpark was visible to the public, and it was possible for the public to see the number plates, probably not insider trading in the uk.
The example we get is
(a)Factory on fire that you can see from the train - public information
(b)You pick up a document from the next seat that says P&C all over it and read it and it says 'oops our top secret factory has burnt down and no-one knows' - not public information.
Please remember: I am not a lawyer.
>(b)You pick up a document from the next seat that says P&C all over it and read it and it says 'oops our top secret factory has burnt down and no-one knows' - not public information.
Over here it's defined more in your role. So that would be perfectly fine unless I was eg a cleaner for the train company, then my 'privileged position' gave me access to the document.
I have to sit through the same pointless training, but you can make them more fun by trying to think up examples to ask the trainer that would confuse a Jesuit.
The main point was that Loeffler and Burr sat in on briefings that basically said it was going to be FUBAR, sold and bought stocks indicating they believed the content of the briefings, BUT continued to parrot the TRUMP/GOP "nothing to see here, move along" line in public. Executive summary: Those two people are arseholes.
The bailout in the US is called the CARES act, ''Coronavirus Aid, Relief, and Economic Security Act'' but it is actually the "Stupid Coronavirus Aid, Relief, and Economic Security Act''
The average US funded bailout business loan is about $14,000 - so for every company that gets a $10,000,000 loan, 20,000 companies get $500. So this means that investing in the stock of large companies will be profitable but investing in companies that have multiple small retailers (each getting a $500 loan) all over the country will be a disaster.
My company survived the 2008 economic crash but they had to let half of the staff go, this is probably going to be the end of us, they have been trying to apply for a loan but so far nobody has managed to get through the paperwork.
Something tells me "luxury" (read tacky) hotels and golf courses will get extra special bailouts.
That's why Trump had to sack the guy they got to oversee and track payments. That came as a huge surprise - not.
It is but a theory, but I suspect that Trump's business is probably an array of real estate, which means it is most likely chain leveraged to the hilt. Now he cannot milk foreign dignitaries seeking to buy influence, the extra income he gets from renting golf carts to the Secret Service is not enough to keep things afloat and the problem with chained leverage is that it is subject to weakest link problems: one property not keeping up with repayment is enough to make the whole house of cards collapse - also because there is no way the family is going to spend less on their lavish lifestyle.
Ergo, Trump is likely to need money, and fast. I don't think he can get away a second time by suing a lender who demands their money back, even Deutsche Bank eventually learned its lesson. Also, the resulting publicity would make it public that he's in the red..
the level of access they have to information currently is highly privileged and it would only make sense to keep their own financial best interests at heart."
Failing to do so has All knowing they do possess such absolutely necessary vital intelligence. Such leads Ignorance into the Intolerant Madness where every Genius Resides and Presides to Bear Forth Fruitful Ideas for Remote Virtual Practical Application ...... in Live Operational Virtual Environment Beta Tests/Pioneering AIMissions.
Crikey, that took me right back to the days and comics of Dan Dare ....... a very early meme exercising and exciting inspiration and aspiration and kick-starting vivid imagination.
Re the colossal elephant in the room ..... "I am not a broker, nor am I qualified to make any kind of inference on this data," he said. "I simply present this data in a user friendly format and I urge the user to simply use it for information and not as a 'stock tip.'"
Does it easily reveal systemic criminal activity embedded in the Senate, and personally identify rotten apples to squeeze and interrogate further for truth filled answers .... Real Smart Replies. Do you think they know .... Their very future existence would depend upon it and such being so.
And how wonderfully strange and most encouraging ...... the following which is as an AIMirror of the Latter Former. ‽
amanfromMars [2004131211] ......seeding a few words to the wise on https://www.zerohedge.com/markets/escobar-total-system-failure-will-give-rise-new-economyTraditionally, countries and cabals being outcompeted go to war, so China needs to thrive modestly or quietly. ..... ParderoTraditionally yes .... but that was surely before such times as these of immediate information discovery and advanced intelligence facilities which would realise any crazy leaders discussing the possibility of wars from such cabal run countries, and their supporting advisors, are the toxic enemy to be permanently rid of.
I wonder if they be smart enough to realise that nowadays?
And would you say there's a lot of sensitive information Registered freely here for El Regers to utilise as best they can, which be superb prime insider trade materiel? Is none at all likely?
...is as strange a decision as UK hospitals/NHS trusts not already having a strategic reserve of gloves, masks and other cheap protective equipment for their staff.
Anyone who waited until February to sell their stocks in companies that would be affected by a pandemic is probably not fit for any position of responsibility.
Rather than an indication of corruption, this is more proof that we're led by idiots and chancers.
Oh I don't know, there'll be a lot of people looking to go on holiday when this is all over. Kinda, big bust but then an even bigger boom. It could play out well just hanging on to stocks that, temporarily, aren't that great.
Some big airlines/hotels could do very well.
All the budget airlines (especially the long haul ones) go bust.
Giant US airlines and foreign flag carriers get bailed out
So next year there is still United, Air France and Etihad but no Norwegian/GermanWings/Zoom/Westjet
Same with hotels. If Airbnb dies and a bunch of small franchise motels go under
People have to travel for work, however much video conferencing improves - so now your airfare costs more and there are only mid-range hotels left.
Twain observed Congress is America's native criminal class. They haven't changed in over 100 years. The only question is whether Congress critter stock sales are exempted from insider trader, the critters are notorious for exempting themselves for the laws they inflict on us peasants.
Make congressional offices volunteer work. They are not allowed to draw any income during their term. These people are already rich but they hate the 1% because they are not one of them. I know they like to point out how stupid that Stacey O. is but she saw an opportunity in an election spot no one really wanted. Even if she serves one term it's over $400K and a pension only they can get.
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