Richard Burr, insider trading?

Discussion in 'The Water Cooler' started by Hoopsdoc1978, Mar 19, 2020.

  1. Standard Issue

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    It was meant to absurd.
     
  2. TheOriginalHappyGoat

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    I've seen it. Literally no one believes her. The timing would be too incredible.
     
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  3. Sope Creek

    Sope Creek Hall of Famer
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    I think most folks will want to wait until they see whether the ballot box works as they're hoping it will.

    For example, this sale of stock on behalf of Kelly Loeffler just might be a wildfire argument against the "elite" Republican whether she's the one who decided to sell her stocks or not. The fact that she's profiting from someone else's input regarding stock valuations - with or without insider knowledge about coronavirus, we don't know - is precisely the sort of advantage that many people I know have been complaining about . . . it's the taking advantage of the little guy that populists have complained about, and this is exactly that. Kelly Loeffler is proving not to be the self-made, successful businesswoman she's projected herself to be . . . she's just another hog at the trough.

    The fact is that she ain't in this for the long haul like the rest of Americans. Watch for Doug Collins - the Trump defender in the impeachment hearings - to jump on this with both feet . . . IMHO Loeffler has been wounded by the sale of the stock, no matter what the circumstances.
     
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  4. Ohio Guy

    Ohio Guy All-American
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    Good God, I hate wishing ill will on anyone, but I'd take great pleasure in seeing all these legislators persecuted to the highest letter of the law when all this is over.

    Seriously - and I never thought I'd EVER say this - I agree with Tucker Carlsen. These people betrayed their country for their own financial benefit. That much is crystal clear.
     
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  5. twenty02

    twenty02 Hall of Famer
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    More sick than a POTUS that was had the same info these people did.... but straight up lied to the public for 6 weeks? I find that pretty sick.
     
  6. cosmickid

    cosmickid All-American
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    Important to remember that Loeffler was NOT elected,and IIRC has never stood for elective office. Her appointment was (Ga Gov) Kemp's attempt to try and win back suburbanites (Esp women) to vote for a GOP candidate in the upcoming 2020 races. Her conduct, as well as the newly revealed fact of Perdue being culpable as well could result in the Dems picking up 2 Senate seats in Ga.

    Key items to keep in mind... Loeffler's (perceived) strength was her ability to appeal to suburbanites who lean GOP but are basically turned off by Trump and his lackey Collins. Goat's posted link was from the ATLANTA JC, which of course is primarily read by SUBURBANITES. How dramatic has the shift against Trump been ?

    In 2012 Romney won Cobb County (suburban Atlanta) by 9%. In 2016 HRC won in the County by 2%. And in 2018 Abrams beat Kemp in Cobb Co by 10%. Kemp was attempting to reverse that slide by appointing Loeffler who he thought would be more palatable to suburban voters, than Trump's preference Collins. The special election will be held on Nov 3, with all candidates listed by party affiliation. In addition to Collins and Loeffler, the Dems have coalesced behind Raphael Warnock, the pastor of Ebenezer Baptist Church. Both Abrams and Jason Carter (Jimmy's grandson) have endorsed Warnock...

    If a candidate gets 50% of the vote they win automatically. If not the 2 highest vote-getters advance to a runoff. It was already shaping up to be a Warnock/Loeffler runoff, but the Loeffler news may end up being critical in siphoning off potential Loeffler votes to Warnock.

    Collins is not going to get the votes of Abrams voters, some of whom might have voted for Loeffler. Collins will get the Trumpanista vote, but moderate GOP voters may turn to Warnock over Loeffler, depending on how this scandal plays out. With the AJC already on top of it, it will certainly be foremost on the minds of suburban voters who already don't like Collins...

    Warnock will likely be the top vote-getter, just as Ossof was in 2018 in the House special election where GOP votes were split. The key question is will this scandal drag Loeffler down, and result in disenchanted GOP moderates providing the boost Warnock needs to get his total over 50% and avoid a runoff? And Perdue possibly being involved could lead to an anti-Trump backlash against the Ga GOP in general. That could affect the other Ga Senate election and Pedue's bid for a 2nd term...

    Biden and Ossoff were leading the polls for the Primary, which has been rescheduled from March 24 to May. With both Biden and Warnock on the Nov 3 ballot, AA turnout could approach record levels, and end up providing a huge boost for whoever emerges as the Dem nominee to run against Perdue...
     
  7. Harry Hondo

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    And CoH conveniently slips in the word “swamp,” with highlighting Pelosi and Obama, alluding to Trump who will “drain the swamp.” The reality of this administration is that Trump is more “swamp-like” than anyone else in Washington. So in order for Trump to drain the swamp the first big step would be resign!
     
  8. zeke4ahs

    zeke4ahs Hall of Famer
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    Would you care to use your big boy words and explain exactly what you disagree with?
     
  9. zeke4ahs

    zeke4ahs Hall of Famer
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    Wait COH thinks this is sick! Beware his scorn.
     
  10. Sope Creek

    Sope Creek Hall of Famer
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    Greetings from Cobb County. :D

    For clarity, there are two Senate races in Georgia in 2020. The one cosmickid talked about the most above is the special election to fill Johnny Isakson's old seat; Isakson resigned effective at the end of 2019 because of his health, as he has Parkinson's disease. Brian Kemp did indeed appoint Kelly Loeffler to replace Isakson until a special election can be held. The election is semi-nonpartisan, in the sense that if no one gets 50% of the vote on election day, then there will be a runoff election between the top two vote-getters even if they're from the same political party. Loeffler's primary GOP challenger is the entirely estimable Doug Collins. Insiders may consider Raphael Warnock to be the leading Democrat, but that is by no means settled statewide . . . look for Ed Tarver of Savannah to make some inroads into Warnock's presumptive lock-hold on Democratic votes.

    For those who need an answer to a Jeopardy question, Joe Lieberman's son, Matt Lieberman, is also a candidate.

    The other Senate race is the one that would have been the only one up for election in 2020 but for Isakson's resignation. David Perdue, brother of former GA governor, Sonny Perdue (Trump's Secretary of Agriculture), is up for reelection and will be challenged by one of 5 Democrats currently awaiting the Georgia primary (currently postponed until May 19, 2020). Among those Democrats are Jon Ossoff, a "filmmaker" who ran for the 6th congressional seat formerly held by Tom Price, then held by Karen Handel (who beat Ossoff), and currently held by Lucy McBath (who beat Handel by the barest of margins). Also running for the Democratic nomination to run against Perdue is Sarah Riggs Amico, a businesswoman who ran well - often in conjunction with Stacy Abrams' campaign for governor - in the 2018 race for Georgia's Lieutenant Governorship . . . and whose car-hauling business has filed bankruptcy. Amico calls herself a "recovering Republican".

    Georgia is a deeply divided state, politically. GOP/Tea Party/Trump supporters have dominated state politics and state government for a long time. The numbers that cosmickid cited above regarding Cobb County are accurate, and eye-catching. They don't necessarily reflect northern Fulton County (Roswell, Alpharetta, Sandy Springs). More than likely those numbers are similar to what you'll see in the future in Gwinnett County. Those three counties, plus growing Cherokee and Forsyth Counties, make up Atlanta's northern suburbs. Forsyth has been a bastion of radical conservatism: https://www.ajc.com/news/local/forsyth-county-the-national-divide-nutshell/0NzevycBIIpyNNeXSIKgGN/. Cherokee remains a GOP stronghold.
     
    50 Sope Creek, Mar 20, 2020
    Last edited: Mar 20, 2020
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  11. twenty02

    twenty02 Hall of Famer
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    I actually agree with AOC for once!

    People in Congress should not be allowed to own individual stocks. They can own broad index funds.

    Burr was retiring anyway.... this will just speed that up by 18 months. But there needs to be criminal investigations here for all of these people.
     
  12. cosmickid

    cosmickid All-American
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    This is what I don't understand about people who rail against "elites" and "the swamp" and voted for Donald Trump? Where is common sense? How can you not equate Trump with the very "elites" you claim to despise? He has his own "tower" in NYC, with interior fixtures made of solid gold. What part of those elements screams "Man of the people"?

    How can a water moccasin or alligator (imo the most vile creatures in a swamp) somehow be relied on to drain the swamp they infest? I guess this is why I had so much trouble even allowing for the possibility that US voters could actually vote for and elect a shyster like Trump in the first place. I obviously gave the average US citizen credit for having more common sense and decency than they deserve. I will not make that mistake again...
     
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  13. INRanger27

    INRanger27 All-American
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    They would’ve just liquidated the index funds and saved a ton too.
     
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  14. cosmickid

    cosmickid All-American
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    Sope I've seen some reporting that Tomlinson might be viable as a possible alternative to Warnock and Tarver. She's the former Mayor of Columbus and I'd imagine has some appeal to the military constituencies around Ft Benning (Columbus) and Ft Stewart (Savannah and the low country). Any input from the front lines??
     
  15. Standard Issue

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    It's blind allegiance, stupidity and a dash of racism thrown in for spice.
     
  16. twenty02

    twenty02 Hall of Famer
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    Yes that's true and fine. But a lot less room for specific conflicts. They probably should have a requirement to disclose their trades publicly as soon as they occur....I believe the SEC requires insiders to publicly report their sales within 2 days. No idea why that should not hold for other high level govt officials.
     
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  17. INRanger27

    INRanger27 All-American
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    Yes or there should be blackout periods
     
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  18. TommyCracker

    TommyCracker Hall of Famer
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    I grew up in Bedford and this was one of my key points in 2016 when I was talking politics with my HS friends.

    They were crazy for Trump and absolutely hated Hillary and were disgusted of Bernie.

    I was like 'how in the holy F does a guy like Trump relate to you??!!'.

    Obviously he was entertaining, brash and basically treated the political game like it was wrestlemania three.

    The republican party probably needs Trump out even more than the democrats do.

    Trump is the republican's Joker from the dark knight (the Republicans are the mobsters that gave him power because they wanted to kill Batman, IE Obama democrats in this story).

    Here was a meeting in early 2016 of the republican party leaders.

     
  19. ButHerEmails

    ButHerEmails Freshman
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  20. TommyCracker

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    As far as the insider trading, obviously the gaslighting the public is the critical sin here.

    As far as dumping stocks in late January....whatever.

    Its basically the core of my case on how incompetent and grotesquely narcissistic Trump's and Trump's news organization is.

    The advantages of getting the virus last is that any moron could see it shut down communities a month ahead.

    Seriously it's not like the shutdown is a surprise. We saw it go through China, Korea and Iran a GD month before it got here.


    Unfortunately our great leader of the people and his news organization spent that advantage of being given a preview trying to deny its existence vs preparing the country.

    Why....simply because he makes decisions on how it will effect his election and perception.

    That's as obvious as water is wet.

    Putting Pence in charge was a classic scapegoat set up in case it goes bad.

    Now once he accepted that it's coming through here like a storm he and his news org has pivoted....now it's a war, he's the wartime president and he's set his expectation date as August (vs it will go away when it gets warm).

    His political move is completely transparent again.

    The hump of this is probably in the next 30 to 40 days like in the early countries. It's why we need tests, ventilators and hospital beds NOW!!

    But Trump is still just thinking election. He put the new date at August so when we get over the hump one way or another after May...he can take political credit for beating his deadline by months as we go into the peak election cycle.

    Anyway, my original point was any stock trader just needed to turn left and see what it was doing to the east and then lighten their positions.

    I was luckily smart enough to do that and I wasn't briefed on anything.

    That's the benefit of being the last of a pandemic, you get a nice preview.
     
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  21. Ohio Guy

    Ohio Guy All-American
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    I saw some of these legislators are now trying to say they have their portfolios in blind trusts.

    While that's all well and good - and I may be wrong here - but even if you can't sell directly, presumably they'd still have some contact with a middle man who could direct sales of stocks on your behalf, right?

    Kind of like, 'look I don't know what my portfolio looks like right now or who actually manages my 'blind trust', but we just got some crazy news - get me the hell out of equities!"
     
  22. TommyCracker

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    Forgot to add that Trump is purposely referring to this as the Chinese Virus vs Corona virus.

    Again it's 100% political (and racist). He needs something to blame to take the heat off him. He wants to spin it as a foreign threat that he personally stood up too....which is why he now says he's a wartime president.

    Don't fall for his BS. It's all about the election.

    Here's also the abrupt pivot that Fox News made this week after getting their new political marching orders.

     
  23. zeke4ahs

    zeke4ahs Hall of Famer
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    I don’t know if this is true or not, but I read somewhere that Biden never invested in stocks because he was concerned it would be considered a conflict of interest.
     
  24. hoot1

    hoot1 Hall of Famer
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    This thread illustrates why many Americans feel something is stacked against them and special interest people and groups are taking advantage of them.

    Groups include the rich and those on welfare.
     
  25. i'vegotwinners

    i'vegotwinners All-American
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    index funds are also influenced by legislation and policy, and index funds would have been just as influenced by the insider trading that's the focus of this thread.

    on a side note, our govt always keeps white collar crime laws and penalties weak for a reason.

    they are Capital Building full of white collar criminals.

    govt of the rich and corrupt, by the rich and corrupt, and for the rich and corrupt.

    money in politics is easy to solve. the politicians don't want it solved.

    all elected reps, senators, prez, top regulators, must totally divest of all business interests upon taking office.

    no other income, earned or gifted, allowed while in or post office, other than a govt salary and pension.

    those who don't want those restrictions, can stay away from public office.

    would solve 99% of our problems, and bring governance for the people back.

    MFA, sane banking/financial regulation, credit card usury laws, national interest trade policies, would all be passed and signed the first legislative session post implementation of such a policy.
     
  26. Sope Creek

    Sope Creek Hall of Famer
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    No real knowledge . . . the only thing I can report is that I have never been contacted by any Democratic nominee since I've been in Georgia until Tarver started sending me emails about his campaign about a month ago.

    I will say this . . . Hall Booth Smith is an excellent lawfirm, so her stint there didn't hurt her.
     
  27. 82hoosier

    82hoosier All-American
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    no masks. No protective gear. No ventilators. On February 22 - There’s only 15 cases and this is going to disappear. Trump’s focus is on what he needs to do to keep his hotels and resorts open.
     
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  28. JamieDimonsBalls

    JamieDimonsBalls All-Big Ten
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  29. cosmickid

    cosmickid All-American
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    Something to keep in mind... The legislation that applies to this (possibly illegal) action is the Stop Trading on Congressional Knowledge Act (STOCK Act) which was enacted in 2012. The Senate vote was 93-2, and one of the 2 no votes came from
    (wait for it)... Richard Burr R-NC.

    You really can NOT make this shit up...
     
  30. JamieDimonsBalls

    JamieDimonsBalls All-Big Ten
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    Well, at least he's consistent with his "values"
     
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  31. Hoosiers Rising

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    Well since he voted no I dont see why he should have to abide by it.
     
  32. thezinfan1

    thezinfan1 Freshman
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    Well done.
     
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  33. cosmickid

    cosmickid All-American
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    Obviously Sen Burr agrees with you...
     
  34. UncleMark

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    Insert "Nothing to see here" meme.
     
  35. Cortez88

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    Things are looking worse for the Senator from Georgia. If all this is proven true, all elected officials who did this should get a Cersi parade through the streets. Shame. Shame.

     
  36. JamieDimonsBalls

    JamieDimonsBalls All-Big Ten
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    To be fair, I wouldn't mind a Cersi parade of shame through the streets for her. But, would you really want to see Burr? :eek:
     
    76 JamieDimonsBalls, Apr 1, 2020
    Last edited: Apr 1, 2020
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  37. cosmickid

    cosmickid All-American
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    IMO, her transgressions maybe even worse than Burr's. Her first sale was the day of the Jan 24th briefing, and her husband is CHAIRMAN of the NYSE. She was already the wealthiest member of Congress, and she's never been "elected" by anyone. But worst of all was her demonizing of "Pres Trump's enemies" and her false pronouncements that the "economy was on solid footing" while she was selling off $ millions in stocks behind the scenes...
     
  38. i'vegotwinners

    i'vegotwinners All-American
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    these guys are definitely in for a firm scolding, and will be forced to promise not to do it again.


    [​IMG]


    [​IMG]
     
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  39. cosmickid

    cosmickid All-American
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    OK is there something in the TEA at Tea-party meetings in Ga? Is it just a coincidence that all of the alleged corrupt dealings involving
    stocks and insider trading related to the virus revolve around GOP Senators, including both who are currently seated in Georgia?

    "Sen. David Perdue (R-Ga.) purchased as much as $65,000 in shares of stock in a company that produces personal protective equipment, the same day the Senate held a private briefing about the COVID-19 pandemic, according to new financial disclosures reported by the Atlanta Journal-Constitution on Monday.

    One of several senators whose recent stock activity has raised red flags, Perdue bought shares in DuPont de Nemours, commonly known as the chemical giant DuPont, which manufactures personal protective equipment, or PPE, like gowns, masks and gloves. PPE has become scarce as health care workers protect themselves against COVID-19, the disease caused by the novel coronavirus."

    https://www.yahoo.com/huffpost/david-perdue-senators-stocks-coronavirus-143411337.html
     
  40. IUJIM

    IUJIM Moderator
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    Please read the last paragraph on the article you linked that pretty much is all I need to know. The level of hyperbole being spewed on this board, and The Huff Post is disgraceful. Every article I have read on this topic that takes the stance of Huff takes everything out of context. It is ridiculous, shameful, and quite frankly embarrassing for them. I read the Trump article closer when I got home, and read this masterful thought.

    The financial news site MarketWatch and The Washington Post later estimated Trump’s stake to be worth between about $100 and $1,500, though the Post noted his trusts may have amassed other investments since his most recent disclosure. “He does look to have more than that modest sum invested in Sanofi, because, unmentioned in the Times report, his trusts also hold broader European stock-market index funds,” MarketWatch pointed out.

    LOL-
    Trump owns European index funds. And he is pushing a drug off of it trying to profit. Do you understand how silly all of this sounds?
     

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