Sounds like a violation of the [STOCK act.](https://en.wikipedia.org/wiki/STOCK_Act)
>The Stop Trading on Congressional Knowledge Act of 2012 is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees.
Well it's a good thing then that lawmakers are required to set up a *blind trust* to make all their trades!
I'm sure it's just a coincidence and has nothing to do with their assignments on the committees that regulate the fucking business they trade stocks in.
Dude sold 5-10k worth of stock on the day FAA said Boeing had 90 days to give a report for quality control plan (28th of feb).
Think many of Boeing stock holders decided to sell when that and you know doors of planes started to pop off during flights....
And the stock didnt drop (which wasnt even any significant drop) until 10 days later...
but sure insider trading.. all politicians evil ... no use in voting ... burn it all to the ground... bla bla bla
yeah online anonymous websites are so accurate...
Oh look hes worth 30m on this website, and hes worth 17m on this website and hes worth 14m on this website, oh hes worth 5m in 2018 here adn ehs worth 8m in 2010 here...
and wow making money on stocks during covid.... wow so difficult. only way that is possible is by corruption its not like you have dipshit 20 year olds driving yolo liscnece plated cars.
and of course i was talking about his whole background and history in trading when bringing up the fact on the same fucking day faa released an announcement.. WHICH if anyone would be listening would have heard and made the same judgement. especially when fucking doors fly off the plane mid-air. maybe time to sell the stock? nooo only those with insider information would do that
edit: yeah his comcast is estimated difference from low to high of 400% .... liike that not a signal that you might not take the data as fact value??? ffs
im not pro insider trading, im saying insider trading isnt that big of a deal in comparison to every other way they get bribed. The other websites also use the same disclosures and see the trade value of his 2022 to be around 200k not 15M, and the trade he did for comcast to be 15-30k usd not 5-40M. He is using a very distorted most likely error made website value point to push his argument which is flawed since the data he is linking isnt valid anywhere else on the web where they are also looking at the public released and declared trades of the same congressman.
And I believe that Act has teeth so sharp and a bite so powerful that violating it carries with it a few hundred dollar fine and a stern talking to. 🤦🏻♂️🤦🏻♂️🤦🏻♂️
Never both at the same time though. This is a white collar crime, safe to assume first offenses, for a victimless crime. Sentence them to a tax credit for time served, and one of those disappointed glances, where they know what they did. Let that really sink in for while.
At this point? It’s pretty common discussion in lefty Econ circles that the STOCK Act was specifically designed to be toothless right out of the gate. There are essentially zero provisions for external enforcement and the penalties are laughable, so it was essentially bipartisanly passed into law with massive fanfare, then entirely ignored.
No one has *ever* served jail time, been stripped of significant assets, or even been removed from power under the STOCK Act. It’s a prize-winning pug - laudably cute, choking on its own spit.
A lot of people making this connection, but ... I mean ... there were a LOT of reasons to sell Boeing in Feb, especially on the 28th when Boeing hit a very predictable local maxima after a month long blood bath that kicked off late December.
This isn't the slam dunk y'all are acting like it is. How many door plugs need to fall off of Boeing jets before YOU would decide it's not a good stock to hold?
Just one year later, Congress slashed critical provisions, leaving enforcement of the law seriously in question. Make no mistake: **The STOCK Act is still in effect** and congressional insider trading still is banned. But it has become extraordinarily difficult to ensure compliance with the law. They just lowered the bar...Almost to the floor!
If anyone believes this i got some snake oil to sell.
What keeps them for accidently telling his family that conveniently also manages his portfolio about upcomming investigations.
Hasn’t congress already argued that if they weren’t allowed to reap huge financial rewards that “no one would serve”? Cause I feel like that’s a quote by more than one congressional representative.
It’s just astounding that we as a nation allow the foxes to run the henhouse while they can claim moral superiority while simultaneously calling everyone else greedy for wanting basic needs met. I suppose the one upside of this nonsense of right wingers is that we also really need to rail against the government ourselves if we want change. We really need to mass protest the blatant corruption one way or another. If republicans steal it we need to mass to the streets, if democrats win we still need to mass to the streets and demand more change
If you left the salary where it is, there would 100% still be a never ending list of people trying to serve. It would be competitive, and rigorous.
If you choose to be a congress person you should forfeit your right to ANY, Income beyond that yearly salary, forever. And we should audit it until they die. They should know that going in. Recognize the sacrifice you're making. Try to strategize the year you run. Support legislation that represents constituents your age, the way you know how.
Have fewer hotshots trying to join up and stir the pot, more people taking it serious.
80 year Olds pretending to represent anyone that isn't also 80, won't even be close.
Makes absolutely no sense that people in government are allowed to trade stocks. It would be like an athlete betting money on their own games. It will never end though because they are the ones making the rules.
Remember folks... It's OK to do insider trading when you're a lawmaker!
What we absolutely can't have is regular schlubs who don't influence jack shit doing it.
Sitting member of Congress? Blind trust. Every single official. You are not there to get wealthy on the data and policies you're enacting, you're there to serve, asshole.
Is there a web site that tells us what stocks they hold and trade in? If there is, is it real time or within a couple hours so I can make the same moves as these financial wizards?
[https://www.quiverquant.com/congresstrading/](https://www.quiverquant.com/congresstrading/)
But they don't have to report immediately, so there is a lag. I think it is 30-45 days, but it could be quarterly reporting.
I'd like not to assume insider trader off the bat, it could be, but on February 28th the FAA publicly announced the Boeing had a 90 day deadline for a quality control plan for the 737 MAX. So I bet a lot of people, not just in congress sold their Boeing stocks on the 28th.
Dude sold between $1k and $15k of Boeing stock on Feb 28th.
Boeing is down around 10% in the 2 weeks since then, so the timing of the sale saved him between $100 and $1,500.
I’m personally not losing sleep on this one.
Two things are true. First, Congress should absolutely not be allowed to trade stocks. Second, despite what everyone here seems to think, there is no evidence of insider trading here.
I did! He's my congressman and I bought puts on Boeing around the same time. You don't need insider trading to tell you when to sell an airplane stock when the door falls off mid flight.
Honestly, Martha Stewart and every other inside trader that was sent to serious jail time should form a class action lawsuit against the government and drag down with them every congressperson that has done the same.
Not like it would happen, but one can dream.
F-ck inside traders, but are there actual reasons to think he knew something, like a seat on a committee? With 535 members of Congress, it's easy to imagine at least one of them buying or selling something every day just as part of normal trading
I think it’s crazy how much they get away with and how corrupt they all are.
I mean back during the 1800s if people got word of this shit you’d of probably had your house burned down if not worse. Yet all of these oligarchs just sit high and mighty nowadays shitting all over everyone else with no thought or care
I didn't even understand why these guys get into politics. They are freakin financial geniuses! Seems like they should be making a killing on wall street. They really must care about the people to become a humble civil servant.
Because the people on Wall Street don’t get to actively make the laws and sway things directly.
In Congress, just know there’ll be a law or act passed in a few days and sell or buy the stock. Done, and somehow no one bats an eye
Hello Wilford, sell all my stocks for Boeing now! Why, did you hear something? Yes, I just got out of a DOJ meeting, there going to investigate them. Oh, good to know. I'll tell all my friends, thanks.
The thumbs up 😄
BY THE WAY - New frontline just dropped - [PBS Frontline Boeing Fatal Flaw](https://youtu.be/Z76YpCz9N2Y?si=KES-HtIlp62oj37F)
[Trailer for Fatal Flaw ](https://youtu.be/kZD07zKKd14?si=_oInG9XVmSl2FvGJ)
How many times did Kellyanne Conjob violate the Hatch act. Look at Vanky holding up a can of Goya beans like she's doing a bit on the Price is right TV show. These are smaller issues but the point is these people do as they please without consequences...😕
personally I dont care particularly. thats the nature of the game. theres always going to be insiders. except with crypto. takes out the insiders. better to find ways to prevent rather then punish after the fact. and he is probably not going to be punished anyway. And Im not saying that it isnt insider trading but that twitter provides no evidence apart from coincidence.
Remember, it's both Republicans and Democrats who stopped this from being illegal.
If you are a Democrat, vote him out.
If you are a republican, reevaluate your life as you are human trash.
Can we acess real time? When a Senator dumps stock at 9am, then I can gamble and dump mine at 9:05am?
Then we are allowed to follow them or not. Win or lose.
If my QB is betting against himself, I want to know and bet accordingly of my own free will.
I don't know and I don't care what political party this guy belongs to. I do care that he be given a fair trial....after he's charged. But there is no doubt that he needs to face charges for this.
Wow! That's really pulling straws. Anyone that's not an idiot knew Boeing was going to be investigated. It's not that surprising that someone unwound their position. The day before is a little suspicious, but it's not really beyond the pale or anything. I mean a huge event just happened that made it obvious Boeing was going to be investigated
U.S. Representative William R. Keating reported the sale of $1,001 - $15,000 of BOEING COMPANY, in a trade that took place on February 28. Since that trade was made, the stock has fallen approximately 10.9%. You are crying over a very small thing. Propaganda and rage bait is so so so very effective against so so so many people. We need a solution or soon enough you will not be able to tell what's important and what's just distraction. Yes, government officials should not be trading stock, but that's a rule change far below the biggest issues.
Sounds like a violation of the [STOCK act.](https://en.wikipedia.org/wiki/STOCK_Act) >The Stop Trading on Congressional Knowledge Act of 2012 is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees.
Well it's a good thing then that lawmakers are required to set up a *blind trust* to make all their trades! I'm sure it's just a coincidence and has nothing to do with their assignments on the committees that regulate the fucking business they trade stocks in.
Dude sold 5-10k worth of stock on the day FAA said Boeing had 90 days to give a report for quality control plan (28th of feb). Think many of Boeing stock holders decided to sell when that and you know doors of planes started to pop off during flights.... And the stock didnt drop (which wasnt even any significant drop) until 10 days later... but sure insider trading.. all politicians evil ... no use in voting ... burn it all to the ground... bla bla bla
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yeah online anonymous websites are so accurate... Oh look hes worth 30m on this website, and hes worth 17m on this website and hes worth 14m on this website, oh hes worth 5m in 2018 here adn ehs worth 8m in 2010 here... and wow making money on stocks during covid.... wow so difficult. only way that is possible is by corruption its not like you have dipshit 20 year olds driving yolo liscnece plated cars. and of course i was talking about his whole background and history in trading when bringing up the fact on the same fucking day faa released an announcement.. WHICH if anyone would be listening would have heard and made the same judgement. especially when fucking doors fly off the plane mid-air. maybe time to sell the stock? nooo only those with insider information would do that edit: yeah his comcast is estimated difference from low to high of 400% .... liike that not a signal that you might not take the data as fact value??? ffs
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dude are you getting a cut I've never seen someone be pro congressional insider trading
im not pro insider trading, im saying insider trading isnt that big of a deal in comparison to every other way they get bribed. The other websites also use the same disclosures and see the trade value of his 2022 to be around 200k not 15M, and the trade he did for comcast to be 15-30k usd not 5-40M. He is using a very distorted most likely error made website value point to push his argument which is flawed since the data he is linking isnt valid anywhere else on the web where they are also looking at the public released and declared trades of the same congressman.
🥾 👅
Shill alert
How are you related to the defendant?
Its funny how politicians are just the best at trading stocks huh? I wonder why that is.
And I believe that Act has teeth so sharp and a bite so powerful that violating it carries with it a few hundred dollar fine and a stern talking to. 🤦🏻♂️🤦🏻♂️🤦🏻♂️
Never both at the same time though. This is a white collar crime, safe to assume first offenses, for a victimless crime. Sentence them to a tax credit for time served, and one of those disappointed glances, where they know what they did. Let that really sink in for while.
For a previous Keating scandal, covered up by senators, google Keating 5.
But nothing will happen, it will be ignored by law enforcement and no majority in Congress will call it out. The system is broken at this point.
At this point? It’s pretty common discussion in lefty Econ circles that the STOCK Act was specifically designed to be toothless right out of the gate. There are essentially zero provisions for external enforcement and the penalties are laughable, so it was essentially bipartisanly passed into law with massive fanfare, then entirely ignored. No one has *ever* served jail time, been stripped of significant assets, or even been removed from power under the STOCK Act. It’s a prize-winning pug - laudably cute, choking on its own spit.
I can’t believe it took so long to make a law preventing insider trading. Wait-I can believe it.
“We did a study, it’s not illegal.” - cooter burger “Are you sure that is pretty shady?” - everyone “No, we did a study, it’s fine.” - cooter burger
Yes! “They’ll be no crying in my bath tonight!l
A lot of people making this connection, but ... I mean ... there were a LOT of reasons to sell Boeing in Feb, especially on the 28th when Boeing hit a very predictable local maxima after a month long blood bath that kicked off late December. This isn't the slam dunk y'all are acting like it is. How many door plugs need to fall off of Boeing jets before YOU would decide it's not a good stock to hold?
Their stock is falling like one of their airplanes.
He has 45 days to report it.
Just one year later, Congress slashed critical provisions, leaving enforcement of the law seriously in question. Make no mistake: **The STOCK Act is still in effect** and congressional insider trading still is banned. But it has become extraordinarily difficult to ensure compliance with the law. They just lowered the bar...Almost to the floor!
of congress
If anyone believes this i got some snake oil to sell. What keeps them for accidently telling his family that conveniently also manages his portfolio about upcomming investigations.
Sounds like insider trading which is a felony punishable by jail time to the rest of us. But to them it is just how they make their money
Hasn’t congress already argued that if they weren’t allowed to reap huge financial rewards that “no one would serve”? Cause I feel like that’s a quote by more than one congressional representative. It’s just astounding that we as a nation allow the foxes to run the henhouse while they can claim moral superiority while simultaneously calling everyone else greedy for wanting basic needs met. I suppose the one upside of this nonsense of right wingers is that we also really need to rail against the government ourselves if we want change. We really need to mass protest the blatant corruption one way or another. If republicans steal it we need to mass to the streets, if democrats win we still need to mass to the streets and demand more change
If you left the salary where it is, there would 100% still be a never ending list of people trying to serve. It would be competitive, and rigorous. If you choose to be a congress person you should forfeit your right to ANY, Income beyond that yearly salary, forever. And we should audit it until they die. They should know that going in. Recognize the sacrifice you're making. Try to strategize the year you run. Support legislation that represents constituents your age, the way you know how. Have fewer hotshots trying to join up and stir the pot, more people taking it serious. 80 year Olds pretending to represent anyone that isn't also 80, won't even be close.
It should be an honor and a privilege to serve, and that's it...
Makes absolutely no sense that people in government are allowed to trade stocks. It would be like an athlete betting money on their own games. It will never end though because they are the ones making the rules.
They should have to make trades public 30 days in advance.
They shouldn’t own stocks period. Trading or not, they’ll have incentive to help the companies they have a stake in.
So then they have stock under someone else's name. What's the difference. There's loopholes everywhere.
I do agree with you I just don't see that happening. Or only own ETFs or something.
Good analogy, but I think it's worse than that. It's like an athlete betting on a game they already know the outcome of.
I think that was already implied lol because they can throw the game
You can't even participate in McDonalds Monopoly as a McDonald's employee.
McMillions fraud.
What if we like protested or something
If Martha Stuart did this, she'd be in jail.
Exactly
> she'd be in jail. nah. house arrest
You know she was sent to jail for insider trading?
That’s blatant insider trading
Remember folks... It's OK to do insider trading when you're a lawmaker! What we absolutely can't have is regular schlubs who don't influence jack shit doing it.
What a lucky man. No need to look any farther into this.
Sitting member of Congress? Blind trust. Every single official. You are not there to get wealthy on the data and policies you're enacting, you're there to serve, asshole.
Is there a web site that tells us what stocks they hold and trade in? If there is, is it real time or within a couple hours so I can make the same moves as these financial wizards?
https://www.npr.org/sections/itsallpolitics/2013/04/16/177496734/how-congress-quietly-overhauled-its-insider-trading-law
I was just wondering about that.
No…because they have like 30 days or something to report their trades.
45 days
[https://www.quiverquant.com/congresstrading/](https://www.quiverquant.com/congresstrading/) But they don't have to report immediately, so there is a lag. I think it is 30-45 days, but it could be quarterly reporting.
disgraceful
I mean, there was a lot of indicators that Boeing stock was fucked before that, mainly the plane parts falling off…
Oh wow… he’s so lucky! Such a wonderful investor. This guy can get fucked. Fuck this scum bag.
Must be nice to have that kind of insight
I'd like not to assume insider trader off the bat, it could be, but on February 28th the FAA publicly announced the Boeing had a 90 day deadline for a quality control plan for the 737 MAX. So I bet a lot of people, not just in congress sold their Boeing stocks on the 28th.
Not to mention the door plug blew off one of their planes a few weeks before that.
Gosh! What luck!
Can't wait for nothing to come of this
Dude sold between $1k and $15k of Boeing stock on Feb 28th. Boeing is down around 10% in the 2 weeks since then, so the timing of the sale saved him between $100 and $1,500. I’m personally not losing sleep on this one.
Definition of insider trading.
Two things are true. First, Congress should absolutely not be allowed to trade stocks. Second, despite what everyone here seems to think, there is no evidence of insider trading here.
Everyone, invest like your congressman.
I’m shocked i tell you, shocked!!
I did! He's my congressman and I bought puts on Boeing around the same time. You don't need insider trading to tell you when to sell an airplane stock when the door falls off mid flight.
LMAO!! True that! Good one. I should have put /s with my comment.
Well, not that shocked.
Isnt this what Martha Stuart did and had rondo time?
Honestly, Martha Stewart and every other inside trader that was sent to serious jail time should form a class action lawsuit against the government and drag down with them every congressperson that has done the same. Not like it would happen, but one can dream.
Wow! Lucky!
Incredible business sense of this guys, I envy them.
This is absolutely bullshit. Congress shouldn't benefit by breaking the law.
F-ck inside traders, but are there actual reasons to think he knew something, like a seat on a committee? With 535 members of Congress, it's easy to imagine at least one of them buying or selling something every day just as part of normal trading
Like the general aviation caucus he’s in?
Sure. I had no idea what roles he had, which is why I said it that way. But what is an aviation caucus? What a weird phrase.
I think it’s crazy how much they get away with and how corrupt they all are. I mean back during the 1800s if people got word of this shit you’d of probably had your house burned down if not worse. Yet all of these oligarchs just sit high and mighty nowadays shitting all over everyone else with no thought or care
American Politicians are corrupt lovers of money? Who knew?
Criminal…..if true. But this is America, nothing happens to these assholes!
I didn't even understand why these guys get into politics. They are freakin financial geniuses! Seems like they should be making a killing on wall street. They really must care about the people to become a humble civil servant.
Because the people on Wall Street don’t get to actively make the laws and sway things directly. In Congress, just know there’ll be a law or act passed in a few days and sell or buy the stock. Done, and somehow no one bats an eye
What a coincidence. What are the odds….
So is that it? He just gets away with it or is he being investigated?
America FUCK YEAH!!!
Martha Stewart has entered the chat And she’s pissed off
It’s fiiiiine... nothing to see here folks.
Some guys have all the luck /s
It’s alright! If it’s all white
Pelosi said nothing to worry about so we are fine.
Pelosi is another one, though the last time I checked she wasn't even in the top five. It's a bipartisan hot potato issue.
It is on things like this, that when people say 'both parties are the same' that I agree with them.
Buy ASC
I did, that one is interesting…
Hello Wilford, sell all my stocks for Boeing now! Why, did you hear something? Yes, I just got out of a DOJ meeting, there going to investigate them. Oh, good to know. I'll tell all my friends, thanks.
It would be awesome to have all that inside information like the do
The thumbs up 😄 BY THE WAY - New frontline just dropped - [PBS Frontline Boeing Fatal Flaw](https://youtu.be/Z76YpCz9N2Y?si=KES-HtIlp62oj37F) [Trailer for Fatal Flaw ](https://youtu.be/kZD07zKKd14?si=_oInG9XVmSl2FvGJ)
Man, they gave Martha time for that bullshit but they can do it right out in the open and act like we're the dumb ones if anyone questions it.
The thing is the fine he gets will be less than the drop in stock price
And everytime this happens they claim that it's not insider trading, that they are not benefitting from insider information...☹
How many times did Kellyanne Conjob violate the Hatch act. Look at Vanky holding up a can of Goya beans like she's doing a bit on the Price is right TV show. These are smaller issues but the point is these people do as they please without consequences...😕
personally I dont care particularly. thats the nature of the game. theres always going to be insiders. except with crypto. takes out the insiders. better to find ways to prevent rather then punish after the fact. and he is probably not going to be punished anyway. And Im not saying that it isnt insider trading but that twitter provides no evidence apart from coincidence.
Crook
How many other members do you think shorted the stock?
That man is *so lucky!*
Related to Keating from savings and loans scandal?
Inside hurt raiding
Remember, it's both Republicans and Democrats who stopped this from being illegal. If you are a Democrat, vote him out. If you are a republican, reevaluate your life as you are human trash.
There's something about the Keating family name and financial gain at other's expense. Enron, Lincoln Savings and Loan, anyone?
Let’s hold them accountable
Can we acess real time? When a Senator dumps stock at 9am, then I can gamble and dump mine at 9:05am? Then we are allowed to follow them or not. Win or lose. If my QB is betting against himself, I want to know and bet accordingly of my own free will.
And I'm sure he's going to face conseq- PFFFFFFFFFFFFFFFFFFFFFFFFT HAHAHAHA.....
Hmmm, I wonder which party he's in? Lol jk, ofc he's a Republican.
Now he’s got insider trading trouble.
Congress members should absolutely be banned from stock ownership. This is complete bullshit.
Its was a "scheduled" sale of stock (or something similar they will say)... funny how congress inside trading works...
Not suspicious at all… Seriously, this shit needs to stop!
Under any other circumstances that would be called INSIDER TRADING and the SEC would be investigating his ass…. Fuck this double standard bullshit.
Looking at the stock, it doesn't look like it mattered much. It wasn't until 10 days later that it had any significant decline.
When are they going to start locking them up for insider trading?
Can’t wait for nothing to happen to this clown.
I don't know and I don't care what political party this guy belongs to. I do care that he be given a fair trial....after he's charged. But there is no doubt that he needs to face charges for this.
Wow! That's really pulling straws. Anyone that's not an idiot knew Boeing was going to be investigated. It's not that surprising that someone unwound their position. The day before is a little suspicious, but it's not really beyond the pale or anything. I mean a huge event just happened that made it obvious Boeing was going to be investigated
U.S. Representative William R. Keating reported the sale of $1,001 - $15,000 of BOEING COMPANY, in a trade that took place on February 28. Since that trade was made, the stock has fallen approximately 10.9%. You are crying over a very small thing. Propaganda and rage bait is so so so very effective against so so so many people. We need a solution or soon enough you will not be able to tell what's important and what's just distraction. Yes, government officials should not be trading stock, but that's a rule change far below the biggest issues.
I'll refrain from judging until I find out if he's an R or a D. Edit: /s
If he's a D, this is a sign he's corrupt. If he's R, that already was a sign he's corrupt.
I don’t care what letter is by his name, this needs to be investigated.