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Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison

 
DeploraVision ™
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03/20/2020 08:24 AM

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Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Anti-Trump GOP Senator Richard Burr is in deep trouble on Thursday after it was discovered the powerful chairman of the Senate Intelligence Committee dumped as much as $1.72 million in hotel stocks before the coronavirus panic hit the US while reassuring the public about coronavirus preparedness.... he was receiving daily COVID-19 briefings as the chairman of the Senate Intelligence Committee...

...There was another case where a GOP senator was caught selling stocks.

Sen. Kelly Loeffler (R-GA), whose husband is the chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24..

..Ron Johnson, the senior senator from Wisconsin, reportedly sold over $5 million in stock on March 2 and the number could be as high as $25 million.

The fourth senator being accused is Oklahoma’s Jim Inhofe, who reportedly sold up to $450,000 in stock in late February.

The senators .. are being accused of insider trading and people are calling for them all to resign...

...The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading...

The maximum prison sentence for an insider trading violation is now 20 years...

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TP Broker

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03/20/2020 08:26 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Pelosi made almost 1/2 a billion $ doing this!
"If you can't trust Bill Gates to protect your computer from a virus, how can you possibly take a vax from him?" Chris McDonald/Mark Taylor
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03/20/2020 08:28 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Anti-Trump GOP Senator Richard Burr is in deep trouble on Thursday after it was discovered the powerful chairman of the Senate Intelligence Committee dumped as much as $1.72 million in hotel stocks before the coronavirus panic hit the US while reassuring the public about coronavirus preparedness.... he was receiving daily COVID-19 briefings as the chairman of the Senate Intelligence Committee...

...There was another case where a GOP senator was caught selling stocks.

Sen. Kelly Loeffler (R-GA), whose husband is the chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24..

..Ron Johnson, the senior senator from Wisconsin, reportedly sold over $5 million in stock on March 2 and the number could be as high as $25 million.

The fourth senator being accused is Oklahoma’s Jim Inhofe, who reportedly sold up to $450,000 in stock in late February.

The senators .. are being accused of insider trading and people are calling for them all to resign...

...The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading...

The maximum prison sentence for an insider trading violation is now 20 years...

[link to conservativeus.com (secure)]
 Quoting: DeploraVision ™


Lock them up!
QCluminati

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03/20/2020 08:29 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
2 threads with the same titles talking about the same thing are pinned.

Cmon glp...
Anonymous Coward
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03/20/2020 08:30 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Anti-Trump GOP Senator Richard Burr is in deep trouble on Thursday after it was discovered the powerful chairman of the Senate Intelligence Committee dumped as much as $1.72 million in hotel stocks before the coronavirus panic hit the US while reassuring the public about coronavirus preparedness.... he was receiving daily COVID-19 briefings as the chairman of the Senate Intelligence Committee...

...There was another case where a GOP senator was caught selling stocks.

Sen. Kelly Loeffler (R-GA), whose husband is the chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24..

..Ron Johnson, the senior senator from Wisconsin, reportedly sold over $5 million in stock on March 2 and the number could be as high as $25 million.

The fourth senator being accused is Oklahoma’s Jim Inhofe, who reportedly sold up to $450,000 in stock in late February.

The senators .. are being accused of insider trading and people are calling for them all to resign...

...The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading...

The maximum prison sentence for an insider trading violation is now 20 years...

[link to conservativeus.com (secure)]
 Quoting: DeploraVision ™

Anonymous Coward
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03/20/2020 08:32 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Nope.. Legislators are immune to insider trading laws...
Rabbit In The Hat

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03/20/2020 08:34 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Hehehe... they forgot that there’s a new boss in charge & that it’s no longer business as usual in DC! Lock those bastards up!
Anonymous Coward
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03/20/2020 08:36 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
They make the laws and are immune to insider trading "so fuck you" is what they have to say about that
Epic Beard Guy

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03/20/2020 08:41 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Insider trading laws do not apply to to them. They wrote the law, do you really believe they are going to be subjected to it the way we are? This has been a problem for a long time. Nobody has ever come up with a good explanation of why they are exempted from the law, other than, they wrote it.
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03/20/2020 08:51 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
MAXIMUM EFFORT!!
Anonymous Coward
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03/20/2020 08:52 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
bsflagbsflagbsflag


Nope.. Legislators are immune to insider trading laws...
 Quoting: Anonymous Coward 78107111


This!
Anonymous Coward
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03/20/2020 08:54 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
2 threads with the same titles talking about the same thing are pinned.

Cmon glp...
 Quoting: QCluminati


One will disappear.
Anonymous Coward
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03/20/2020 08:56 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Why didn't they just hedge their positions with Puts? (Short Selling) Fools
Anonymous Coward
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03/20/2020 08:56 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
"They Face Up To 20 Years In Prison"

Now that's funny!
hankie
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03/20/2020 09:04 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
I would be checking the house and senate on both sides, they do this every time, even right after 9/11 or sometimes close to it. They were caught yet most did not get in trouble, just a slap on the wrist. One in Alabama quit because he knew he messed up and gave it back. These people find it to dang easy to cheat.
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03/20/2020 09:18 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
i thought they were the only ones immune from insider trading laws? the senators and reps have been dong this for decades, and that's a big part of ho they become so rich.

would be great they got impeached and sent to prison for it--unfortunately, that's not likely to happen.

Last Edited by JJ Johns on 03/20/2020 09:20 AM


I'm mad as hell...

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Grateful1

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03/20/2020 09:32 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
This is from the OP’s original link.

The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.

The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 96–3 vote. Later the House of Representatives passed it by a 417–2 vote. The bill was supported heavily by vulnerable incumbents and signed into law by President Obama. According to the current United States Senate Select Committee on Ethics, “A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee.”

The maximum prison sentence for an insider trading violation is now 20 years. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000
Triton
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03/20/2020 09:41 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Nothing will happen to these assholes.
Sholomar

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03/20/2020 09:44 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Are you just supposed to hold stock and watch it become worthless? Maybe had they held it until late February when the virus had gained widespread mainstream news distribution they could have avoided this without getting the charges.

Still I don't really blame them. It shouldn't be considered insider trading unless they are apart of these companys somehow, such as on their boards.
Anonymous Coward
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03/20/2020 09:48 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
They shouldn't face any time in prison.They should be facing a FIRING SQUAD.!!!!!!!!!!
Anonymous Coward
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03/20/2020 09:49 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Are you just supposed to hold stock and watch it become worthless? Maybe had they held it until late February when the virus had gained widespread mainstream news distribution they could have avoided this without getting the charges.

Still I don't really blame them. It shouldn't be considered insider trading unless they are apart of these companys somehow, such as on their boards.
 Quoting: Sholomar


Agree When China started shutting down factories it was obvious to almost everyone it would affect companies here since we are so dependent on China for parts etc. On the other hand shorting stocks eight BEFORE 9/11 is a problem.
Anonymous Coward
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03/20/2020 09:49 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Nope.. Legislators are immune to insider trading laws...
 Quoting: Anonymous Coward 78107111


Not with this President this is just more rope for the nooses.

The OLD GUARD IS GOING DOWN, permanently./Qrona\
Anonymous Coward
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03/20/2020 09:50 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
right not eight sorry
CAAM

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03/20/2020 10:06 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
These "representatives of the people" who claim that they are here to "serve the american people" (God how many times have we heard that!) are degenerates and need to (must) go to jail. We need some examples. Claw back their stock gain and give it to local food banks.

Instead of leading they run scared and sell their stocks with inside information. I would not want any one of them in a fox hole with me.
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03/20/2020 10:09 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
2 threads, same title.

Come on GLP, you've now been invaded by MSM talking points.

A lot of people sold stock without secret briefings, don't fall for the MSM dividing us.
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03/20/2020 10:10 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Pelosi made almost 1/2 a billion $ doing this!
 Quoting: TP Broker


Proof?
Patriot_In_Waiting

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03/20/2020 10:11 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Anti-Trump GOP Senator Richard Burr is in deep trouble on Thursday after it was discovered the powerful chairman of the Senate Intelligence Committee dumped as much as $1.72 million in hotel stocks before the coronavirus panic hit the US while reassuring the public about coronavirus preparedness.... he was receiving daily COVID-19 briefings as the chairman of the Senate Intelligence Committee...

...There was another case where a GOP senator was caught selling stocks.

Sen. Kelly Loeffler (R-GA), whose husband is the chairman and CEO of the New York Stock Exchange, began selling off more than a million dollars in stocks on the same day as the closed-door Senate meeting on Friday, Jan. 24..

..Ron Johnson, the senior senator from Wisconsin, reportedly sold over $5 million in stock on March 2 and the number could be as high as $25 million.

The fourth senator being accused is Oklahoma’s Jim Inhofe, who reportedly sold up to $450,000 in stock in late February.

The senators .. are being accused of insider trading and people are calling for them all to resign...

...The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading...

The maximum prison sentence for an insider trading violation is now 20 years...

[link to conservativeus.com (secure)]
 Quoting: DeploraVision ™


They might resign, but won’t go to jail since they’re exempt from insider trading laws
Patriot_In_Waiting

My name is patriot_in_waiting and I'm a GLPTARD

If we get caught.....I'm deaf, and you don't speak English
WyatteSmith

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03/20/2020 10:11 AM

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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
This is from the OP’s original link.

The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105, S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The bill prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.

The bill was introduced by Joe Lieberman, independent United States Senator for Connecticut, on January 26, 2012, and passed in the Senate by a 96–3 vote. Later the House of Representatives passed it by a 417–2 vote. The bill was supported heavily by vulnerable incumbents and signed into law by President Obama. According to the current United States Senate Select Committee on Ethics, “A member, officer, or employee of the Senate shall not receive any compensation, nor shall he permit any compensation to accrue to his beneficial interest from any source, the receipt or accrual of which would occur by virtue of influence improperly exerted from his position as a member, officer, or employee.”

The maximum prison sentence for an insider trading violation is now 20 years. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000
 Quoting: Grateful1


clappa

.
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03/20/2020 10:12 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Hang em high
Anonymous Coward
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03/20/2020 10:14 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
Trump has pardoned people for less
Anonymous Coward
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03/20/2020 10:19 AM
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Re: Four Senators Dumped Millions In Stock After Closed-Door Coronavirus Briefings – They Face Up To 20 Years In Prison
There's a report that Diane Feinstein also sold stock.





GLP