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Utah Bob #35998

Ethics? Insider trading?

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I’d be more interested if they bought stock in toilet paper and Clorox.

Senators sold stock after Corona briefing.

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Does anybody ever wonder how politicians get rich?  Insider information that is illegal for everyone else.

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Sometimes it’s just good timing; if I had sold out when news of the virus first struck, I would have been seriously ahead of where I am now.  No inside info; just making the decision to liquidate rather than hold and hope

 

LL

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26 minutes ago, Loophole LaRue, SASS #51438 said:

Sometimes it’s just good timing; if I had sold out when news of the virus first struck, I would have been seriously ahead of where I am now.  No inside info; just making the decision to liquidate rather than hold and hope

 

LL

True. But if you had sold out after receiving inside info that wasn’t available to the public, that would be another thing. 
Martha Stewart found that out.

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Maybe they should have shut down the stock market. It wouldn't be able to crash if it wasn't open.

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I agree UB.

 

Just reading about the circumstances and timing of their sell off sure looks VERY suspicious.

 

They're briefed one day and then in the afternoon, they sell off.

And get this..... its reported that atleast one of them sold off some 'bad stock' and then bought into a software outfit that specializes in HOME work programs, etc...... or whatever its called.

 

..........Widder

 

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Since most are Republicans I'm sure the Democrats are hoping that they'll resign, so that they can replace them with Democrats and win control of the Senate by default.

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37 minutes ago, Eyesa Horg said:

Maybe they should have shut down the stock market. It wouldn't be able to crash if it wasn't open.

There has been no crash. Just a significant sell off.

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The fact that our senator from ga that did it is married to the head of the new York stock exchange and he sold too the same day tells me a lot

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I have no sympathy for Scum. May they all get what they deserve...regardless of the letter after their name.

 

 

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3 hours ago, Utah Bob #35998 said:

There has been no crash. Just a significant sell off.

That "significant sell off" has my 401K down 15%.:angry: I WAS planning on retiring this June. Not now.:(

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14 minutes ago, Sgt. C.J. Sabre, SASS #46770 said:

That "significant sell off" has my 401K down 15%.:angry: I WAS planning on retiring this June. Not now.:(

My withdrawals are down also. But with a stock based retirement fund you have to expect ups and downs. Things will get better. Just hope I live that long. :unsure:

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Honestly, isn't the very notion that lawmakers are allowed to play the stock market a conflict of interest?

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I'm going to hold off on judgement pending the outcome of the reviews.  It is entirely possible that these were normal transactions with the timing being coincidental.  After all, stocks are traded all the time... and these people, despite being politicians, are aware of both the laws and their own responsibilities and restrictions, as well as the fact that they are all under constant scrutiny.  

 

On the other hand, as the President pointed out this morning, it's interesting that initially none of the press seemed at all interested that Dianne Feinstein and her husband had also been selling. 

 

 

 

 

 

 

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I like your new avitar UB :D

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I understand that their accounts are in a trust and they don't have "direct" control. And their 401Ks are supposed to be just like everybody elses. 

 

However none of them are just like us. They know people who know people who know people that the average Joe will never know. All it takes is a single covert sentence to the right person......

 

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Further justification for Term Limits.

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Even if they didn't personally make the moves did they give insider information to the people who handle their accounts?.

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On 3/20/2020 at 9:22 AM, Redleg Reilly, SASS #46372 said:

Does anybody ever wonder how politicians get rich?  Insider information that is illegal for everyone else.

It's funny how someone enters Congress with an average amount of wealth, makes $174,000 per year for however long they are in Congress, and leave as full-blown multi-millionaires.  Repeat after me:  Corruption and nepotism.  

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On 3/20/2020 at 2:46 PM, Sgt. C.J. Sabre, SASS #46770 said:

That "significant sell off" has my 401K down 15%.:angry: I WAS planning on retiring this June. Not now.:(

Pard, don't you know you're supposed to move away from stocks and into bonds the closer you get to retirement???

 

I'm only 43, so this big crash is actually going to be GOOD for my retirement -- I'll spend the next few years buying up shares at reduced prices.  By the time I retire, things will have recovered and I will have shifted it all to bonds.  The benefit for me is that the prices are cheaper while I'm still in buying mode.  For you, not so much.

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On 3/20/2020 at 11:11 AM, Sixgun Sheridan said:

Since most are Republicans I'm sure the Democrats are hoping that they'll resign, so that they can replace them with Democrats and win control of the Senate by default.

That's not how it works.  Different states do it differently.  In Colorado, where I live, the party holding the vacated seat holds an election within the party to replace them.  So the seat doesn't change hands until the next scheduled election. 

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In this case , even bonds are tanking,  IF you can get a bid.  

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