Insider Trading?

I believe T Bone mentioned this in the comments the other day (sorry if it was someone else, comments in Beehiiv are hard to search), but the way that Trump and Co are working the tariffs makes you wonder if someone is profiting from the ups and downs:

❝

Donald Trump is facing accusations of market manipulation after posting on social media that it was a “great time to buy” just hours before he made a dramatic U-turn on his trade war that led to big rises in stock markets around the world.

Shortly after US markets opened on Wednesday morning, Trump wrote on his social media platform Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT”.

Less than four hours later, he shocked investors by announcing a 90-day pause on additional trade tariffs on most countries except China, sending share indexes soaring.

The Guardian

There’s so much corruption nowadays, we’re fucking soaking in it, but the lack of regulation of Congressional stock purchases is certainly not a good thing. My former Congresswoman, Louise Slaughter, tried to rein this in with the STOCK Act barring insider trading, but Trump’s recent signaling isn’t really insider trading. It’s more like open corruption.

Anyway, this:

Senators Murphy and Schiff are also making noise about this.

I’d go a step further than AOC — Members of Congress should have to put their assets into blind trusts and should not be allowed to trade stocks. Pay them more if that’s a burden.

That all said, the market seems to have figured out that a massive tariff on China is still a disruption, and the two meme stocks are taking a hit. Womp womp:

Reply

or to participate

Run Goose1 year ago

This is a great example of how decades of inaction and inertia on elite accountability are going to make the reconstruction out of this administration's wreckage difficult. There's a massive pile of unaddressed issues on top of the structural and existential rot at the foundation.

It overwhelms me sometimes, and I'm typically a rational, practical person in overwhelming situations (sometimes to a fault). Where do we even start?

John S.1 year ago

The last time Congress talked about tackling insider trading, Nancy Pelosi came out hard against making any reforms. She softened her stance a little in 2022, but not before the House failed to advance the legislation that passed easily in the Senate. Many Democrats were furious at leadership, such as Abigail Spanberger.

Despite all the good things Pelosi has done, she has a terrible track record on this issue. Her husband is a prolific stock trader, and has been accused repeatedly of benefiting from insider information. So it’s not just Republicans who are allergic to insider trading reform.

C P1 year ago

Oh, for sure.

Honestly, even before you get to the morality of it, the fact that she doesn't grok how this looks should be concerning. You can get away with this shit if your whole brand is "cheating is okay because everybody does it so we just have to be sure we get our share of it." If your brand is asking people to believe not everybody cheats and if you vote for me I'll protect you against the cheaters? Not so much.

TBone Dinosaur1 year ago

I thought this from March 8 was a "shots fired" moment that almost nobody heard:

Capital One Shuts Down Over 300 Trump Organization Accounts in Move Seen Against Money Laundering: Court Docs

https://dailyboulder.com/capital-one-shuts-down-over-300-trump-organization-accounts-in-move-seen-against-money-laundering-court-docs/

TBone Dinosaur1 year ago

The Trump Organization has accused the bank of “egregious conduct” for shutting down these accounts. The legal documents claim that Capital One’s actions were a “clear attack on free speech and free enterprise,” which goes against the core freedoms that the U.S. stands for.

John S.1 year ago

What a laughable statement. Money is not free speech, even if the Roberts court wants to pretend otherwise.

Sepideh M1 year ago

It is until someone rolls back Citizens United. https://www.brennancenter.org/our-work/research-reports/citizens-united-explained

TBone Dinosaur1 year ago

Unusual Whales on BlueSky has a helpful chart of Congress's biggest offenders and keeps a good eye out for corruption:

"I want you to understand how unusual the moves were today.

Before Trump announced a pause, there was HUGE $QQQ volume on a 460C expiring 04/17.

They were bought for $0.85 and ran to as high as $31 per contract!!!

This was before any news.

Later in the day, it rallied 2000% in ten minutes."

https://bsky.app/profile/unusualwhales.bsky.social

TBone Dinosaur1 year ago

That's about yesterday obvs

TBone Dinosaur1 year ago

I also noted that my financial advisor was paying attention since I received transactions notices

TBone Dinosaur1 year ago

It's inside right on the outside if the envelope

TBone Dinosaur1 year ago

OF gah I hate typos

Kay W.1 year ago

The insider trading enrages me. All those people carefully putting money aside in stock plans and the richest game the system? They’re laughing at us. That’s all Democrats should say “ Donald Trump and his billionaires are laughing at small investors”

C P1 year ago

So, you know how you were talking yesterday about your normie friends, who believed things that are completely false, but the common denominator of these things seems to be "congressmen think they get to be above us and the system just lets them?"

This might be a good way to respond to that. Tell them "actually, that's been addressed"/"actually, that's peanuts;" "the REAL juicy stuff in this day and age is..." And then talk about stuff like congressmen trading stocks that go up and down based on the policies they make.

You're telling them something that fits their priors about corrupt politicians getting perks that aren't available to the rest of us, so it's less likely to register as pushback or contradiction; you're just angling them from something that's false onto something that's, well, true.

Kay W.1 year ago

Thanks- you're right- it's an opening. They have already posted something about it on our Signal group.

Insider Trading?

Reply

Keep Reading

reverse pyromania

Home