Crony Statism: The stock trades of wealthy politicians drew scrutiny this year when a number made transactions based on suspected access to privileged information

The Justice Department did not pursue insider trading charges against Sens. Kelly Loeffler, James Inhofe, and Dianne Feinstein after its investigation did not find sufficient evidence that they had done anything illegal. The lawmakers all sold large amounts of stock, worth hundreds of thousands to millions, before the stock market crashed in the spring. Prolific trading by Sen. David Perdue has also raised eyebrows, as have trades by Sen. Richard Burr. As Fortune points out: “Although some suspicious trading activities have been widely condemned, the fact that no member of Congress has been prosecuted under the STOCK Act reveals the challenge in proving illegal insider trading by elected politicians. Those accused of such activity often claim that their transactions are based on public information or are managed by independent trusts. The difficulty arises from the lack of clarity in US securities law; indeed, years of legal practice in this area suggest that the boundaries of illegal insider trading are difficult to define. The fact is that the law ultimately fails to deter members of Congress from allegedly engaging in such activities.” All of the politicians deny any wrongdoing.

Crony Statism: The stock trades of wealthy politicians drew scrutiny this year when a number made transactions based on suspected access to privileged information Sub-buzz-12403-1608753797-14

Crony Statism: The stock trades of wealthy politicians drew scrutiny this year when a number made transactions based on suspected access to privileged information Sub-buzz-12403-1608753797-14

.https://www.buzzfeednews.com/article/venessawong/2020-pandemic-inequality-rich

parasite

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Crony Statism: The stock trades of wealthy politicians drew scrutiny this year when a number made transactions based on suspected access to privileged information

Crony Statism: The stock trades of wealthy politicians drew scrutiny this year when a number made transactions based on suspected access to privileged information

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