“Republican North Carolina Sen. Richard Burr and Republican Georgia Sen. Kelly Loeffler sold a combined $2 million to $4 million in stock after attending private briefings about the coronavirus pandemic, even as they publicly amplified the Trump administration line that the virus did not pose a major threat to public health or the economy, disclosures analyzed by ProPublica and the Daily Beast show. The sales were completed before the disruption caused by widespread illness began to trigger major losses in securities markets this month.”
If you’re first out the door, that’s not called panic, right?
Funniest thing about these kinds of incidents is that the law doesn’t allow insider trading investigations to be conducted on members of the Congress.
We’re all equal, but some are more equal than others.
love that margin quote. there was an article on margin calls recently. not sure if it is widespread yet, but it is definitely happening to pledged shares.
Yeah same here where I live. People were getting margin calls enough to make headlines 2 weeks ago. Can only imagine how bad the situation is today.
Leverage is great until it isn’t!
actually, under the deep state, it only applies to Republicans, but Richard Burr hates President Trump (witness the SSCI, Senate Select Committee on Intelligence) so he gets a pass
Rep. Collins was one of the first congressmen to back Trump, so he had the book thrown at him. These offenses have been weaponized. There’s always a choice whether to (i) have congress censure a congressman or (ii) have the SEC investigate and impose a fine (like Elon Musk and the going private at 420) or (iii) kick it over to DOJ and go for prison time.
Funny how the two democrats who did the same thing were not mentioned. I agree however, there should be some major repercussions involved but maybe put that on back burner and figure out the virus situation first.
With margin, you lever when the odds are at your side. It’s not an instant thing. But more of a gradual approach given market conditions. The bigger the fall the more leverage.
With options it’s a bit different. You lever only what you are willing to lose when the odds are seriously stacked in your favor. Sometimes you’ll never need to use this because it is such a rare occasion that you will often miss it. You have to do it given good market conditions for you but also as time passes little by little.
as @whatsyourgovt say, the dems who do this are rarely if eve mentioned.
fwiw Democrat Senator Dianne Feinstein (CA) adumped about a million dollars worth of stocks (and her husband Richard Blum sold up to $5 million worth of stocks) after Sen Feinstein received info from private Coronavirus briefings.
so about 1.75m? over a 100 trillion bucks of assets. imo. its prolly worse when these people talk to people with real money than what they do with their personal assets.
Yo. Been working on the house a lot lately. Haven’t traded too much except for shorting EEM.
Other than that, I’m really starting to go crazy. Gyms are closed, Grocery stores close at 8, premium gas is $2.30 a gallon. It’s like we’re living in a movie man. Wild. But can’t wait for all this to be over with honestly.
