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In the United States, the Office of Congressional Ethics also may be interested in the unusual stock trading activity involving Innate last week. The Buffalo News reported last month that the office is investigating Collins' investment in Innate. Investigators received several complaints questioning whether Collins – who helped write legislation that speeds clinical trials and thus, theoretically, could benefit Innate – had engaged in insider trading.
Usually insiders make money, Collins lost a fortune. Usually insiders aren't involved with a company for 15 years. Now if Collins sold a boat-load of stock before any announcement of drug-trial issues...then he may have a problem. But those are the kinds of things that are real easy to check.
I hear he got in on Enron too! Maybe he could pick up a few bucks giving financial advice on CNBC! At least he's got that cheap-chit congressman job with half-way decent healthcare benefits!
The guy still owns the stock! So how is he going to be charged with something?
Not only that, but his congressional buddies have lost money, too!
Quote:
..... calculated that the Innate stock Collins still owns -- which was worth $45.5 million at its peak -- is now worth only $1.5 million.
....But four Republican House members --Reps. Markwayne Mullin of Oklahoma, Billy Long of Missouri, Mike Conaway of Texas, and Doug Lamborn of Colorado -- bought Innate stock earlier this year nearer its peak price and may have lost much of their investment......
The guy still owns the stock! So how is he going to be charged with something?
Not only that, but his congressional buddies have lost money, too!
Investing and losing money is illegal??!!
actually insider trading (which he did) is illegal for everyone.....except congressmen.
He was just bad at it making this hilarious
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