LETSGOBROWNIES Posted March 20, 2020 Share Posted March 20, 2020 3 hours ago, mistakey said: no if i invest in a year and make 5x the money you did just cause i waited with my cash, i'll still be right even if youre up Yeah bb, this is the way. Quote Link to comment Share on other sites More sharing options...
vikesfan89 Posted March 21, 2020 Share Posted March 21, 2020 So I've got a question about those senators that sold their stock right before the crash. What should they have done in that situation after being briefed? Is there a scenario where they could have sold their stock or were they screwed because they had more information than everyone else and they should have watched them drop? I'm not defending then in any way and they should be held accountable if they committed a crime, it just seems like a tough place to be in Quote Link to comment Share on other sites More sharing options...
theJ Posted March 21, 2020 Share Posted March 21, 2020 15 minutes ago, vikesfan89 said: So I've got a question about those senators that sold their stock right before the crash. What should they have done in that situation after being briefed? Is there a scenario where they could have sold their stock or were they screwed because they had more information than everyone else and they should have watched them drop? I'm not defending then in any way and they should be held accountable if they committed a crime, it just seems like a tough place to be in Yeah I mean if we're honest with ourselves, we all do something similar. Quote Link to comment Share on other sites More sharing options...
vikesfan89 Posted March 21, 2020 Share Posted March 21, 2020 8 minutes ago, theJ said: Yeah I mean if we're honest with ourselves, we all do something similar. It's not even that they had concrete knowledge that the markets were going to crash. They still predicted that although they had a pretty good idea that they would Quote Link to comment Share on other sites More sharing options...
theJ Posted March 21, 2020 Share Posted March 21, 2020 Just now, vikesfan89 said: It's not even that they had concrete knowledge that the markets were going to crash. They still predicted that although they had a pretty good idea that they would Right. This isn't insider trading in the typical sense (don't know if it legally qualifies). I don't know the answer to your question. But I would argue they did nothing wrong. This thing was public knowledge it was going on in China before that. Quote Link to comment Share on other sites More sharing options...
N4L Posted March 21, 2020 Share Posted March 21, 2020 9 minutes ago, theJ said: Right. This isn't insider trading in the typical sense (don't know if it legally qualifies). I don't know the answer to your question. But I would argue they did nothing wrong. This thing was public knowledge it was going on in China before that. I think the main issue with it is that they were publicly stating that everything was going to be fine and that people shouldn't panic. It's hypocritical to say the least and immoral tbh Anyways, buy companies with large cash reserves. Tech especially has a ton of cash and can continue to operate for as long as this goes on even if limited slightly 1 Quote Link to comment Share on other sites More sharing options...
winitall Posted March 21, 2020 Share Posted March 21, 2020 2 hours ago, theJ said: Right. This isn't insider trading in the typical sense (don't know if it legally qualifies). I don't know the answer to your question. But I would argue they did nothing wrong. This thing was public knowledge it was going on in China before that. The problem isn’t the trades. The problem is the timing of the trades. They received classified information that the general public did not have access to in the hours or days before the trades. Acting on that information is wrong and I’m not really sure how to defend it. That classified briefing likely had quite a bit of information and intelligence that is not common knowledge related to the spread and extent of the virus and the ability of the US to cope with it. 3 Quote Link to comment Share on other sites More sharing options...
MacReady Posted March 21, 2020 Share Posted March 21, 2020 They should donate all that they sold to relief efforts or resign. Talking about the people in my video game that sold stuff when they shouldn’t have in an embarrassingly selfish and greedy move when they knew millions across the country, billions across the world were going to suffer without the medical care r benefits they have while they’re supposed to be working for those people. Not anything political or anything. 1 Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted March 21, 2020 Share Posted March 21, 2020 It is 100% against the law (STOCK Act) and they should be in prison, but beyond the greed, continuing to lie about the severity of the situation (except to their rich mega donors) is repulsive. Tens of thousands of people are going to die because the people in charge didn't want to lose money. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 21, 2020 Share Posted March 21, 2020 11 hours ago, winitall said: 13 hours ago, theJ said: Right. This isn't insider trading in the typical sense (don't know if it legally qualifies). I don't know the answer to your question. But I would argue they did nothing wrong. This thing was public knowledge it was going on in China before that. The problem isn’t the trades. The problem is the timing of the trades. They received classified information that the general public did not have access to in the hours or days before the trades. Acting on that information is wrong and I’m not really sure how to defend it. That classified briefing likely had quite a bit of information and intelligence that is not common knowledge related to the spread and extent of the virus and the ability of the US to cope with it. Yep, the "public knowledge" defense goes out the window because the timing of the transactions clearly indicate they acted on the classified briefing. And I don't look at this as a victimless crime either. For every share they sold, they were screwing someone who was buying one. I don't know if it's illegal or not, but it's nakedly corrupt. 3 Quote Link to comment Share on other sites More sharing options...
vikesfan89 Posted March 21, 2020 Share Posted March 21, 2020 Any chance that they'll be held accountable? What would the right actions? Tell the public and then sell or not sell knowing that they'll probably lose a bunch of money? I really don't know much about insider trading Quote Link to comment Share on other sites More sharing options...
Heimdallr Posted March 21, 2020 Share Posted March 21, 2020 Just now, vikesfan89 said: Any chance that they'll be held accountable? Ha. 1 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 21, 2020 Share Posted March 21, 2020 Just now, vikesfan89 said: Any chance that they'll be held accountable? What would the right actions? Tell the public and then sell or not sell knowing that they'll probably lose a bunch of money? I really don't know much about insider trading Probably not. I'd settle for them being voted out. Not sell and lose money. In an ideal world, you put your assets in a blind trust first. Back in the day, Jimmy Carter was forced to sell his farm so he wouldn't have a conflict of interest if farming legislation needed approval. Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted March 21, 2020 Share Posted March 21, 2020 3 hours ago, vikesfan89 said: Any chance that they'll be held accountable? oh sweet summer child. 3 hours ago, vikesfan89 said: What would the right actions? Tell the public and then sell or not sell knowing that they'll probably lose a bunch of money? I really don't know much about insider trading All politicians should have to put their assets in a blind trust and sell their companies. If you can’t be bothered to do that, don’t run for office. Quote Link to comment Share on other sites More sharing options...
winitall Posted March 21, 2020 Share Posted March 21, 2020 3 hours ago, ramssuperbowl99 said: Probably not. I'd settle for them being voted out. Not sell and lose money. In an ideal world, you put your assets in a blind trust first. Back in the day, Jimmy Carter was forced to sell his farm so he wouldn't have a conflict of interest if farming legislation needed approval. The fact legislators can openly own individual stocks is truly another level of incompetence. 1 Quote Link to comment Share on other sites More sharing options...
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