Congress CAUGHT In Insider Trading Scam
2 min read
New evidence catches members of Congress in an insider trading scam. John Iadarola and Erin Ryan break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/
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Read more here: https://www.commondreams.org/news/2020/04/30/cashing-pandemic-documents-show-lawmakers-made-1500-stock-transactions-worth-158
"A new analysis of financial disclosure documents found that Republican and Democratic members of Congress made nearly 1,500 stock transactions worth up to $158 million between February and April as the coronavirus spread across the U.S., heightening suspicions that elected officials in charge of the federal response to the pandemic have opportunistically cashed in on it.
"It’s ridiculous that the public should even have to wonder if a member’s personal financial interests are playing a role in any public policy, let alone the response to a crisis like Covid-19."
—Delaney Marsco, Campaign Legal Center
The Campaign Legal Center (CLC), a non-partisan watchdog group, uncovered at least 127 purchases or sales in securities by senators and at least 1,358 transactions by members of the House between February 2 and April 8.
"Of those transactions, some members of Congress were strategically buying stocks in companies that might see a boost during the crisis, as well as selling stocks that seemed likely to tank," CLC said. "Public servants made purchases in remote work technologies, telemedicine companies, and car manufacturers that were shifting their production to ventilators. Sales were made in companies in the restaurant and hospitality industries.""
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