INSIDER TRADING BY SENATORS DISCOVERED!

If it looks like insider trading, sounds like insider trading, and smells like insider trading…, then it’s probably insider trading.

These politicians definitely have their privileges!

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And there are many more out there who benefited from their advance knowledge…, believe me…, but these were the only ones stupid enough to get caught.

According to Dom Calicchio of Fox News, “Sen. Dianne Feinstein of California and three of her Senate colleagues reported selling off stocks worth millions of dollars in the days before the coronavirus outbreak crashed the market, according to reports.”

Hmmm, what an absolute coincidence?

“The data is listed on a U.S. Senate website containing financial disclosures from Senate members.”

“Feinstein, who serves as ranking member of the Senate Judiciary Committee, and her husband sold between $1.5 million and $6 million in stock…between Jan. 31 and Feb. 18, The New York Times reported.”

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“Feinstein defended herself in a series of tweets on Friday, saying she has ‘no control’ over her assets and the stocks in question were her husband’s transactions.”

Here we go again…, deny, deny, deny…, lie, lie, lie.

‘“During my Senate career I’ve held all assets in a blind trust of which I have no control. Reports that I sold any assets are incorrect, as are reports that I was at a January 24 briefing on coronavirus, which I was unable to attend,’ she tweeted.”

‘“Under Senate rules I report my husband’s financial transactions. I have no input into his decisions. My husband in January and February sold shares of a cancer therapy company. This company is unrelated to any work on the coronavirus and the sale was unrelated to the situation.’”

Her sales were “completely unrelated” to the coronavirus situation.

Oh I get it…, “someone” just decided to sell off between $1.5 million and $6 million of her and her husband’s stock, right in the midst of a record breaking stock market for no good reason.

Sounds legit to me.

And I’m not cutting any of our Republican friends any slack either.

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“Reports identified the three other senators as Richard Burr of North Carolina, Kelly Loeffler of Georgia and James Inhofe of Oklahoma, all Republicans.”

“Burr, chairman of the Senate Intelligence Committee, used more than 30 transactions to dump between $628,000 and $1.72 million on Feb. 13, according to ProPublica.”

Senate Lawmakers Hold Media Availability After Weekly Policy Luncheons

“The report said the transactions involved a significant percentage of the senator’s holdings and took place about a week before the impact of the virus outbreak sent stock prices plunging to the point where gains made during President Trump’s term in office were largely erased.”

‘“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,’ a Burr spokesperson said. ‘As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.’”

“On Friday, the senator tweeted an updated statement saying he relied only on ‘public news reports’ to guide his decision on the sale. Still, he said he’s asked for a Senate Ethics Committee review of his actions.”

“Burr was an author of the Pandemic and All-Hazards Preparedness Act, a law that helps determine the federal response to situations such as the coronavirus outbreak, ProPublica reported. Burr’s office would not comment on what kind of information Burr might have received about coronavirus prior to his stock sales, the outlet reported.”

“[Senator] Loeffler was appointed to the Senate in December by Georgia Gov. Brian Kemp after incumbent Sen. Johnny Isakson resigned because of health issues – despite allies of President Trump having urged Kemp to select Rep. Doug Collins instead.”

“Loeffler and her husband, Jeffrey Sprecher, chairman of the New York Stock Exchange, sold stock Jan. 24, the same day she sat in on a briefing from two members of Trump’s Coronavirus Task Force, The Daily Beast reported.”

“Between that day and Feb. 14, the couple sold stock worth a total between $1.2 million and $3.1 million, the report said. In addition to the sales, they also purchased stock in a maker of software that helps people work at home – just before millions of Americans were forced to leave their offices because of the outbreak, the report said.”

“Loeffler slammed the Daily Beast report as a ‘ridiculous and baseless attack’ in a pair of late-night tweets.”

‘“This is a ridiculous and baseless attack. I do not make investment decisions for my portfolio. Investment decisions are made by multiple third-party advisors without my or my husband’s knowledge or involvement,’ Loeffler wrote. ‘As confirmed in the periodic transaction report to Senate Ethics, I was informed of these purchases and sales on February 16, 2020 — three weeks after they were made.’”

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“In an interview Friday with Fox News’ Ed Henry, Loeffler again said any claim of insider trading is ‘absolutely false.’”

“[Senator] Inhofe sold as much as $400,000 in stock all on Jan. 27, in companies such as PayPal, Apple and real estate company Brookfield Asset Management, The New York Times reported.”

“But in a written statement, Inhofe pushed back by saying he was not at a late January briefing and, further, does not have involvement in investment choices.”

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“The statement said: ‘The New York Times allegations are completely baseless and 100 percent false. I was not at the briefing on January 24. I was meeting with pro-life kids from Oklahoma here for the March for Life and the new nominee to be U.S. Ambassador to Tanzania. I do not have any involvement in my investment decisions. In December 2018, shortly after becoming chairman of the Senate Armed Services Committee, I instructed my financial advisor to move me out of all stocks and into mutual funds to avoid any appearance of controversy. My advisor has been doing so faithfully since that time and I am not aware of or consulted about any transactions.’”

I really wish all four of these senators would give the rest of us a little credit for not being completely gullible and/or stupid.

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This really is just another case of “the rich get richer.”

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Isn’t it just so completely obvious that these individuals used knowledge, that wasn’t available to the rest of us, to advance themselves financially at the expense of everybody else?

Again…, if it looks like insider trading, sounds like insider trading, and smells like insider trading…, then it’s probably insider trading.

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You can say you’re not responsible for your stocks or your money all day long, but in the end these are your stocks and it is your money, and YOU ARE responsible for it!

This whole thing stinks to high heaven, and these people need to held accountable.

But, the odds are we’ll just end up seeing another shining example of our wonderful two-tiered justice system.

We have to always remember…, that there’s this club, and we ain’t in it!

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If you’re not already “following” me and you liked my blog(s) today, please “click” on the comment icon just to the right of the date at the bottom of this article.  From there you can let me know you “like” my blog, leave a comment or click the white “FOLLOW” button at the bottom of that page, which will keep you up to date on all of my latest posts.

Thank you, MrEricksonRules.

I see CNN has finally posted some news about the stock market! 

Yes folks, and if you see CNN, MSNBC, CBS, NBC, ABC, The Huffington Post (HuffPost), The New York Times or The Washington Post reporting news about Wall Street, or the economy in general, it’s bad news.

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In this case, CNN Business’ David Goldman reports, “US stocks plummet on Coronavirus fears: March 9, 2020.  Dow falls 2,100 points.”

Well, that is definitely news Mr. Goldman…, but it was news too when the stock market hit record highs like over 30 times this last year.

It’s funny how I didn’t see any mention of those economic events.

I wonder why?

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CNN must be doubly excited about this news…, as their hyping of the coronavirus seems to be working and that in turn is causing negative economic news.

Please check out my previous blogs regarding the coronavirus:

You scared of the Coronavirus?  From March 3, 2020

https://mrericksonrules.com/2020/03/03/you-scared-of-the-coronavirus/

and,

Death toll hits 14,000!  But I’m not talking about the coronavirus. From March 9, 2020.

https://mrericksonrules.com/2020/03/09/death-toll-hits-14000-but-im-not-talking-about-the-coronavirus/

Another article out there by David Goldman today reports, “It’s a bad day to be an energy company.”

Wow…, two articles in one day!  Mr. Goldman must be extra charged up by all of this bad news!

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Goldman reports, ‘“The rapidly falling price of oil [due to an oil price war between Saudi Arabia and Russia] is likely to put more pressure on energy companies in the United States, which will hurt the banks with the most credit exposure to the oil industry,’ according to CFRA Research analyst Pauline Bell.”

Yes, Mr. Goldman…, again, this is definitely news.

But it was also news when President Trump pushed to open-up more areas for oil exploration and when he got all of the pipelines approved.  Not to mention when we gained our independence from Middle Eastern oil, and in fact, became the world’s number one producer of oil again!

Not to mention how low the price of gas has been for over three years now.

This “good stuff” was also news that I didn’t catch you or CNN reporting about, or even bothering to mention in most cases.

Again, I wonder why?

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Actually, I don’t “wonder why” at all.

I know very well why all of the liberal propaganda, fake news, shamelessly tries to manipulate the news.

It’s all in an effort to support their anti-Trump narrative.

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It’s just amazing to me how many people are still falling for this fake news.

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Just watch the fanfare (I’m being sarcastic) about the market bouncing back on the fake news today.

There won’t be any.

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I value your feedback and I’d love to hear from you!

If you’re not already “following” me and you liked my blog(s) today, please “click” on the comment icon just to the right of the date at the bottom of this article.  From there you can let me know you “like” my blog, leave a comment or click the white “FOLLOW” button at the bottom of that page, which will keep you up to date on all of my latest posts.

Thank you, MrEricksonRules.

When money talks, media bias walks!

Yes, when it comes to the stock market, investing and business in general, money still rules over political agendas and media bias.

Greed may not be a virtue, and in fact it’s one of the “7 deadly sins,” but at least it doesn’t pretend to be something it’s not.

“Money” will always react in its own best interest, regardless of who or what is responsible.

“Business is business…, it’s nothing personal.”

The “biased, liberal, fake news media” and the democrats can try and spin words, events and policies any which way want, and millions of gullible Americans may buy what they’re selling, but money cuts through all of that and focuses on reality, not propaganda.

market prediction if trump wins

On the eve of the presidential election, in November of 2016, when all of the “biased, liberal, fake news media” pundits, experts and talking heads predicted a stock market collapse, and basically the end of the world should Donald Trump win the election, “money” was prepared with the appropriate reaction.

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Even Matt Egan, of CNN Business News had to admit that, “Wall Street welcomes Trump with a bang” the day after the election.

“That didn’t take long,” Egan declared.  “An overnight panic in global markets evaporated as Wall Street gave an emphatic welcome to President-elect Donald Trump.”

Huh?  So what happened to all of that “end of the world” propaganda talk from these so called “experts” that we were hearing less than 24 hours earlier?  Well, these “experts” had moved on from that “hit job,” and they were already doing their “swampy” best to downplay The Market’s reaction to Trump’s election, putting the whole thing in the proper perspective for all of the rest of us, and attempting to dampen any and all positive reactions to it.

The facts are that, The Dow soared 257 points and brushed up against lifetime highs already on Wednesday, the day after the election, defying those who predicted Trump’s election would bring about a plunge in the stock market.

Peter Kenny, an independent market strategist, admitted that the market, “Greeted Trump with a far more positive footing than I expected.  He’s receiving a very warm welcome.”

So, if you ever want to get an honest reaction to any events or policies, just watch how “money” reacts to it.

It’s a safe bet every time.

“For the love of money is the root of all evil…” – 1 Timothy 6:10

“The lack of money is the root of all evil.” – Mark Twain

“We live by the Golden Rule.  Those who have the gold make the rules.” – Buzzy Bavasi, Major League baseball executive

 

NOTE:  If you’re not already “following” me and you liked my blog(s) today, please scroll down to the bottom of the page and click the “Follow” button.  That’ll keep you up to date on all of my latest posts.

Thank you, MrEricksonRules.

stock market crash

 

 

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