Not political I believe. [correction - not a Mormon] A number of years ago I was listening to the news and I heard this guy give a speech on the Senate floor. His mannerisms were identical to Mormon general authorities. I thought this was too much of a coincidence so I looked him up on Google. . This is the same guy who put a snow ball on the podium of the Senate to state there is no global warming. I am tired of crooks and charlatans, especially those who hide behind a religious facade.



Edited 1 time(s). Last edit at 03/20/2020 06:40PM by Eric K.

Everything I can find on him says he's a Presbyterian. He's also a member of "The Family" founded by Douglass Coe.

I'm seeing him as Presbyterian too.

I guess I am wrong about his religion. He sure seemed Mormon

He's certainly one of those people who uses religion as a means to power.

It's still important news.

https://en.wikipedia.org/wiki/Ernest_Istook

He had his own ethical issues

"Istook received $29,000 in campaign contributions from Abramoff and some of his clients, and wrote letters urging the Bush administration to reject a casino proposal that Abramoff's clients opposed. On January 9, 2006, Istook announced he would give $23,000 in Abramoff-related money that was donated to his re-election campaign or his PAC to the Boy Scouts of America. This is in addition to $6,000 in Abramoff-related donations given to the Oklahoma Medical Research Foundation in December 2005.[21] His congressional campaign paid back $5,126 to Abramoff's Sports Suites LLC, for the use in 2003 of skyboxes by the congressman for an American Idol concert and a Washington Redskins game. Istook has denied any connection between the donations and his activities, saying in 2006, "I barely knew the man."[22]

Istook is identified in documents filed in June 2008 against his former chief of staff, John Albaugh, as "Representative 4". According to the documents, Istook called Abramoff in 2003 to thank him in advance for use of one of Abramoff's FedEx Field skyboxes for a fundraising event. Istook asked Abramoff which projects his clients wanted in the upcoming transportation bill. The government filing refers to an Abramoff e-mail saying Istook "had basically asked what we want in the transportation bill", and telling his colleagues at Greenberg Traurig to "make sure we load up our entire Christmas list". Four of Kevin A. Ring's clients later received at least $1 million each in the transportation bill.[23] On June 2, 2008, Albaugh pleaded guilty to one count of corruption and conspiracy."

Apparently I mistook Inhofe for Istook. Not much difference between those two ethically. Early dementia on my part?

I've seen these headlines from way up here in Canada. I don't quite get it - do they mean these guys had foreknowledge and selfishly cashed in? And the sell-off contributed to the downturn?

Just checking my facts. And trying to keep up.

The tides of men are very interesting indeed.

Meanwhile, I feel for all those so heavily impacted. There seemed to be actual fear here yesterday as seemingly suddenly shops were shutting and/or some goods were scarce. It has certainly taken many people a while to begin to comprehend the extent and depth of the worldwide situation. Me included. Realization of some urgent realities kicked in yesterday. It would be easy to feel a loss of control which can lead to stress at least, panic even, and that is completely understandable. It's not just control freaks who want to regulate their environment in order to feel a sense of security. I went to buy dinner and without warning entire sections of my local supermarket were dark and empty. Just days before they were saying don't panic, there's plenty of supply. I don't think this is a supply issue at this point as much as a measure to control any potential transmission, to protect staff as well as customers. No deli sandwiches, no fresh meat, no fresh baking. Severe restrictions on quantities of basics like milk and bread. It can definitely knock you off kilter. Suddenly, everything can seem strange and uncertain.

So reality bites at this point. And it took a while to understand how deep it would go, into every facet of our lives.

Meanwhile, some guys were focused on their portfolios? Not that unusual a reaction for guys with portfolios perhaps. But the optics are bad. And it could be far worse than an optics issue. 'Twas ever thus with certain types.

The concern is about "insider trading": "the illegal practice of trading on the stock exchange to one's own advantage through having access to confidential/secret/classified information."

This can possibly be a crime (though, for various reasons, it evidently would likely be a difficult crime to prosecute), and/or an ethics violation.

For politicians, the real penalty would likely be at the ballot box, the next time they ran for re-election. (In some cases, insider trading could conceivably prompt the elected official to resign soon after the revelation, depending on the circumstances involved.)

In U.S. legal philosophy, elected officials are not supposed to personally profit from their official duties (except for their regular paychecks). Although this is a highly nuanced subject, this is the generally accepted principle.

Oh, I see. Yes, that makes sense. I heard a mention of the issue this a.m. but no details. I didn't hear them use the term insider trading, just that there was a concern there. But from Eric's post I got the gist, although didn't think of that term, which sounds so shady.

Why do people think they can get away with doing things like this? Doesn't it always come out? And I can't imagine having such a low level of ethics that it wouldn't bother you to be so corrupt.

Profiteering, in other words, especially in a time of upheaval and tragedy. Despicable.

How could you spin it to make it seem innocent?



Edited 1 time(s). Last edit at 03/20/2020 05:59PM by Nightingale.

> Why do people think they can get away with doing
> things like this?

I think recent events demonstrate quite compellingly that powerful people can do unethical and illegal things without facing consequences. There's a high probability that these crooks will get away with this or receive subsequent pardons.


--------------------
> Doesn't it always come out?

Not always, but often. And if one doesn't care about ethics or the appearance of cupidity, he frequently pays no price.


-----------------------
> I can't imagine having such a low level of ethics
> that it wouldn't bother you to be so corrupt.

Well isn't that quaint. A woman who takes ethics seriously. You are so 20th century*


------------------------
> How could you spin it to make it seem innocent?

Why bother? No one enforces the laws against corruption anymore, so just keep that upper lip firm and console yourself with another BMW.





*You know how much I respect you and how much I wish our culture had not abandoned the ethics you embody.

Stupid

https://en.wikipedia.org/wiki/Jim_Inhofe

"In December 2018, Inhofe bought $50,000 to $100,000 worth of stock in Raytheon, a major defense contractor that has billions of dollars' worth of contracts with the Pentagon. The week before, he had successfully lobbied the Trump administration to increase military spending. Ethics watchdogs said the purchase raised conflict of interest concerns, and noted that members of Congress are not allowed to purchase stocks on the basis of information that is not publicly available. Inhofe sold the stock shortly after reporters asked him about the purchase. He said the purchase was made by a third-party adviser who manages Inhofe's investments on his behalf"

He probably want to help out of work people, like strippers.

I knew there was a reason people had to break out the course name into religion AND ethics in college. They don't necessarily go together.

I wish I'd have dumped my stock. years of savings and gone. It's depressing, we're not suppose to be greedy and all but it makes you wonder what's the use in saving anything.

Markets are risky, equity markets particularly so. You are relatively young, but even you should have a good chunk of your net worth in cash and even bonds.

Don't despair. Learn and move forward.

"Maybe the Quarantine is to Keep Us From Storming Richard Burr’s Office"

I heard a few years ago that the US congress passed laws that make it legal for them to do insider trading. It's a dispicable law and immoral for them to do it. No one in Congress wants to admit to doing insider trading because of how bad it makes them look. But at the end of the day, I don't think that any of them can be prosecuted for doing it, even though they are insiders more than any of us, on just about everything big that goes on in this country (the USA).

https://en.wikipedia.org/wiki/STOCK_Act

Actually, it is the exact opposite. A member of Congress was recently convicted under this act and was forced to resign from the House after conviction. The law specifically includes members of Congress.

Signed into law April 4, 2012.

ETA: https://www.nytimes.com/2019/10/01/nyregion/chris-collins-guilty-congress.html

ETA 2: Oh, lookie who voted against it.
the only no votes were senators Jeff Bingaman, Richard Burr, and Tom Coburn.[2]



Edited 2 time(s). Last edit at 03/21/2020 01:18PM by Brother Of Jerry.

She's the 2nd-richest Senator with $94M net worth. Of that, according to Investopedia, $5-24 is in a "blind" trust. That leaves plenty of capital to knowingly play with by her investor husband, Richard Blum. She's spent her entire life on the public payroll.

Some people go into politics and make a fortune.
Other people make a fortune, then go into politics.

If the allegations are true, all four of them should be sent making license plates.



Edited 1 time(s). Last edit at 03/21/2020 12:38PM by Lot's Wife.

In Feinstein's case, it really does look like a blind trust and it doesn't make sense that the two are related because what she sold was biotech stocks and the decision to sell them lost money. If she was influenced by the Covid 19 situation it would have made more sense to buy biotech stocks. Additionally, it's been reported that she hasn't been getting any classified briefings on this situation.

Yes, that's why I put the conditional phrase in that sentence. I don't know who has violated the law but those who have deserve condign treatment inasmuch as they owe loyalty not only to the law but also to the people.

I just want there to be a real investigation and credible consequences.

You going to call out the Dems that did this also???

https://www.forbes.com/sites/jackkelly/2020/03/20/senators-accused-of-insider-trading-dumping-stocks-after-coronavirus-briefings/#4097ad6c4a45

Feinstein is on that list...but her "husband" is the one who did it. Reprehensible by ANYONE who benefitted off of this.

I like what Rand Paul said for any company receiving govt bailout funds....they can't buy back their own stock..until all funds are paid back to the Feds first

I thought Inhofe was a Mormon. My mistake. His party affiliation was irrelevant. If he were a Democrat, I would of still mentioned it. You are seeing boogie men where there are none.

A lot of 1-sided political discussion going on so, just trying to keep it all even

The two posts right above yours were both about Diane Feinstein, now there's Eric, so it's safe: you can stop hyperventilating now.

This just shows you that the entire stock market is a scam.

Fact check: Martha did NOT get jailed for insider-trading. The Feds were unable to make that case (apparently it's a tough crime to prosecute) so they nailed and jailed her for lying to investigators. Source: "You have he right to remain innocent" by Regent Law School prof James Duane.

Why else would he run for the senate but to enrich his pocketbook? Isn't that why one goes to Washington? Serving the people is for the suckers. Inside information all the way!

Not sure about this.
Criminal intent would be hard to prove.

Investors looking at China probably had a pretty good idea that trouble was brewing.

We were home in the U.S. for the holidays and decided against going back to Europe for that very reason.
So glad we did.

In January we decided to put in a 6 mos supply and encouraged our kids to do the same.

I don't know what really happened with those people but I'm willing to cut them some slack for having good instincts.

Rep. Chris Collins was just jailed for insider trading.



Edited 1 time(s). Last edit at 03/22/2020 03:42PM by Devoted Exmo.