Thursday, March 19, 2020

UPDATED: Not Everyone Is Panicking

For example, far from panicking, Lindsey Graham is setting an example for us all. He's concentrating on making money, or raising money, if you accept Tucker Carlson's premise:

UPDATE: Kelly Loeffler, Ron Johnson, Jim Inhofe, and Dianne Feinstein can be added to the list of Senators--along with Richard Burr--who sold stocks after getting a briefing on Covid 19, thus avoiding the market crash. Thank God our elected representatives are able to keep their cool and act decisively in a crisis. No doubt we'll find out there were plenty more, in all branches that were briefed. It's reassuring to know we have the best government money can buy.


  1. That is why you get different versions of the Senator from SC: he's part of the McCain cabal picking up the pieces after John's death.

  2. It's incredibly cumbersome, but corporate executives have learned to live with the limitation on their trading activity, and the required disclosure, so as to avoid any appearance of conflict, unethical behavior, or trading on non-public information. They have a so-called quiet period that occurs (roughly) following the quarterly filing of their financial results. IIRC, a 30-day period once per quarter when they can buy or sell. I suppose Congress could be restricted to either blind trusts, or only trading when they are in recess.

    The problem for these Senators is that trading on non-public information is subject to private civil lawsuits (IIRC), and not just SEC enforcement action.

    1. I saw a nice chart this morning that showed that senators do better than corporate insiders on the stock market.

  3. Of the many things that may come from the Covid-19 crisis, I hope that accountability for those who profited in situations like this is on the list.

  4. Salon is backing off the prior claim about Johnson, see .

  5. All of a sudden this is a Republican scandal, even though Feinstein's name is mentioned. If the Reps did this, I'll bet that they had plenty of Dem company.

    Not that I'm defending anyone who allegedly did this, D or R. But we should have accurate reporting. I'm not holding my breath.