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Old 08-08-2018, 04:16 PM
 
Location: Central Illinois -
21,416 posts, read 14,299,973 times
Reputation: 14534

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Quote:
Originally Posted by treasurefinder View Post
If the Dems were smart they could run on healtchare and Trump not draining the swamp. Of course Dems typically find a way to lose.

It will be interesting to see who else Collins notified.
"If Dems were smart"…..they're smart, they just don't know how to win elections. They know how to govern, but they don't know how to win elections. You'd of think they learned a thing or two by now, but they haven't.
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Old 08-08-2018, 10:11 PM
 
Location: Phoenix, AZ
6,183 posts, read 3,502,306 times
Reputation: 3801
Quote:
Originally Posted by PilgrimsProgress View Post
I thought I read something a while ago that it was okay for Congress to do insider trading because I remember thinking, So that's how they all get rich.

There is something those clowns are allowed to do that the rest of us can't. Maybe someone can weigh in.
No, they cannot engage in insider trading. Itís illegal but some do get away with it like Tom Price. Ring any bells?
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Old 08-09-2018, 11:27 AM
 
Location: Portland, Oregon
9,977 posts, read 16,622,416 times
Reputation: 6376
I think Collins panicked about the cost of his advice to family members.

His claim that he didn't personally benefit from passing the information won't get him out of trouble. In a Stay Tuned with Preet podcast today, Preet (former DOJ in the Southern District of NY) discussed a similar case in that District that went on to the Supreme Court where all Justices ruled that you don't need to personally benefit to violate the insider trading prohibition.

The stock is only traded in Australia, I wonder if they have a similar insider trading prohibition.

Google is my friend: From a website of an attorney discussing the law in Australia:

What the prosecution must prove - the elements of the offence:
The prosecution must prove:

That you possess information which is likely to have a material effect on the value of a particular financial product that is able to be traded on a financial market.
That you know (or ought reasonably know) that the information is not generally available
That you (or your agent) trade in that particular financial product; or you tell someone else about the information knowing that that the other person will trade in the product.
Financial products are broadly defined under Division 3 of the Corporations Act and importantly contain all securities able to be traded on a financial market.

The prosecution does not require proof that you knew the information was not available and may have a material effect, it merely requires that a reasonable person would have that belief.
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Old 08-09-2018, 11:30 AM
 
9,461 posts, read 2,309,388 times
Reputation: 4674
GOP congressman Collins, early trump supporter, arrested for securities fraud

Another Republican on the make. They are really crawling out of the woodwork this year ...
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Old 08-09-2018, 11:36 AM
 
Location: Portland, Oregon
9,977 posts, read 16,622,416 times
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There are just more of them in Congress this session although it does seem that they have been committing financial fraud on a huge scale. Historically Democrats have been convicted of financial malfeasance too.
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Old 08-09-2018, 11:40 AM
 
26,295 posts, read 17,228,167 times
Reputation: 10277
Quote:
Originally Posted by odanny View Post
"If Dems were smart"Ö..they're smart, they just don't know how to win elections. They know how to govern, but they don't know how to win elections. You'd of think they learned a thing or two by now, but they haven't.
They also needed to stay true to their Progressive roots as opposed to becoming Republican-lite.
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Old 08-09-2018, 03:51 PM
 
Location: Portland, Oregon
9,977 posts, read 16,622,416 times
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In case you missed the implication of my information about Austrailian law a pardon would not protect the congressman or his family as Australian courts could file legal action. I do believe we have a joint extradition treaty.
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Old 08-09-2018, 03:55 PM
Status: "Siempre Adelante Nunca Atras" (set 13 days ago)
 
3,299 posts, read 1,345,148 times
Reputation: 2818
Sooooo. Maybe chanting "lock her up" wasn't such a good idea???? Karma. Whoooooooo boy. It's a ..........
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Old 08-09-2018, 03:59 PM
Status: "Siempre Adelante Nunca Atras" (set 13 days ago)
 
3,299 posts, read 1,345,148 times
Reputation: 2818
None of these guys would be in jail if Trump and his merry band of goons had not poked the bear. They went on Fox News and mass media and threw the FBI under the bus. You don't think Law Enforcement took notice? It's like the dunce who curses out the cop when he gets pulled over. That guy is gonna get a few extra tickets added on and or a flashlight to the face. The Trump Admin went to war with Law Enforcement and now they are paying the price.
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Old 08-09-2018, 08:28 PM
 
Location: Portland, Oregon
9,977 posts, read 16,622,416 times
Reputation: 6376
So the shareholders who didn't get the information and took a bath are ok with that? Were I in their shoes I would be p***ed!
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