⏩ The ALL NIGHTER Posts@ 19:00 PDT ?
☆ It’s A Private Club & We Aren’t In It.
This morning news broke out that four Republican senators are being accused of dumping their stocks after being briefed on the coronavirus in private meetings. Richard Burr of North Carolina, Kelly Loeffler of Georgia, James Inhofe of Oklahoma and Ron Johnson from Wisconsin. The mainstream media was quick to attack the GOP members as corrupt but it seems they are not alone.
Democratic senator Dianne Feinstein of California is also accused of insider trading.
Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock in California biotech company Allogene Therapeutics, between Jan. 31 and Feb. 18, Fox News reported.
When questioned by the newspaper, a spokesman for the Democrat from San Francisco said Feinstein wasn’t directly involved in the sale. “All of Senator Feinstein’s assets are in a blind trust,” the spokesman, Tom Mentzer, told the Times. “She has no involvement in her husband’s financial decisions.”
Under the Stock act, if proven guilty of insider trading she faces up to 20 years in prison. 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. This is nothing new when it comes to high ranking Democrats.
A few years back a huge scandal burst out but the Dems made a cover-up of everything as always.
Steve Kroft reported that members of Congress can legally trade stock based on non-public information from Capitol Hill and the main star of the show was Nancy Pelosi.
Pelosi and her husband participated in an initial public offering of Visa in 2008, according to CBS. They bought 5,000 shares at the initial price of $44; two days later, shares were trading at $64, CBS said.
The network reported the investment came at the same time a piece of legislation that was opposed by credit-card companies was making its way through the House.
“Congress has never done more for consumers nor has the Congress passed more critical reforms of the credit card industry than under the Speakership of Nancy Pelosi,” Pelosi spokesman, Drew Hammill, said in a statement few days after the report came out.
CBS said it used as a starting point for its story the research of Peter Schweizer, a fellow at the Hoover Institution, a conservative think tank at Stanford University.
About a year ago, he began work on a book about “soft corruption” in Washington, CBS reported. The network said it had independently verified the material it used.
Pelosi’s spokesman criticized the CBS story for failing to note that the “legislation in question was reported out of the Judiciary Committee on October 3, 2008 — the day the House was consumed in passing TARP and also the last day the House was in session before the November election.”