Corrupt and shitty government? How is this even news?
I’m starting to wonder if I should try to make a quick buck on the US citizens. You all seem to be okay with it.
Maybe I should leave my banking info here and tell you depositing money to that account will own the libs.
Why wouldn’t they? Americans continue to allow it.
Yeah they’re allowed to do it because our silly little outrage is meaningless. Oh, we’re disgusted? “Lol stay poor libs.”
Doesn’t it undermine your faith in leadership knowing the people you vote for are capable of paying attention?
Trump rolled out tariffs 8 years ago and they fucked the economy. Trump went on and on about tariffs, AGAIN, and a bunch of people connected the dots and sold. YEARS after the first round of tariffs.
Only psychopathic greedy corrupt assholes could figure out how to sell stocks in time. Nobody else could have seen it coming.
And there will be no measurable consequences even if all evidence should happen to point to insider trading. If there’s even an investigation I’ll be amazed.
And THAT is what “undermines faith in government and the markets.”
They did it before covid too and got away with it. Now they manufacture their own crisis anytime they want to pump and dump
Insider trading makes you a Based Chad. This only proves that the people running the country are incredibly smart and deserve the money they’ve racked in bilking and swindling their peers.
Now they can flaunt their wealth in order to prove their superiority, possibly by purchasing one of our many exploding trucks or crashing planes. Or perhaps by paying a team of streamers to power level a Diablo character on their account in order to look cool on Twitter.
Anyone who suggests this isn’t Sigma Male behavior is jealous and also probably a pedophile terrorist.
Little late on this, but okay.
The Art of the Grift.
the most corrupted ministration in the US history again, I did the same thing they did but I don’t have any requirements not to
Yep I could see the fall coming a mile away. Sold near the top. I didn’t expect such a rapid recovery but I’m not going back in, I think the next drop could be even worse. Like think depression not recession.
We haven’t even seen any real effects of the tariffs yet. The last time a US administration did this, it caused 10 years of some of the worst economic downturn in world history - the Great Depression.
I’ve just been buying gold silverand bitcoin
I imagine that number is off by an order of magnitude
I bet they bought it back too after the plunge and sold when it was put off
TL;DR:
Over a dozen U.S. government officials and congressional aides sold stocks just before Trump’s major tariff announcements, which later caused market drops. While there’s no proof they used insider info, the timing is extremely suspect
Officials who sold their stocks include a White House lawyer, a State Department official, and a Trade Representative director selling shares before key announcements. Experts argue such trades undermine trust in government and markets.
I’m in favour of banning government members from trading stocks, but it didn’t exactly take an insider to predict that the tariffs would bring the market down.
it didn’t exactly take an insider to predict that the tariffs would bring the market down.
Nope, but it took an insider to know the timing before everyone else and thus get a head start before things start plummeting. There’s a shitload of money to be pilfered that way.
He was publicly raving about enacting tariffs before the tariffs were officially announced and in place. The only people that didn’t know they were coming were those not paying attention and the willfully ignorant.
Brief Devils advocate here: the tariffs were public knowledge since at least February. I also sold a bunch of stocks before the market tanked.
Trump is quoted saying “there is going to be some pain” in early February while discussing tariffs on Mexico and Canada. That’s enough insight to make me sell, and that was well before most of these insiders sold their position.
It’s very, very, very difficult to prove insider trading unfortunately. It does look bad from a trust standpoint however, and I agree with that sentiment. It looks especially bad when the president and CEOs laugh about how much money they’ve made while standing in the Oval Office.
Insider trading or not, the optics don’t look good.
They sold immediately before the announcement. They knew the exact timing to gain the most money they could, using their prior knowledge. They weren’t guessing what would happen in the vague future. They had concrete knowledge the announcement was going to happen, how much the tariffs were for, and when.
Were you also buying contracts on SPY when it was hanging out around 515?
- Make illegal any trading by legislative/judicial/executive and anyone closely linked or related
- There is no #2
To enforce #1 we require they move all investments to a market-wide USA ETF (or US bonds) before they can take their position and disallow sales or any unscheduled purchases while they hold that position. If they’re not comfortable investing in the market they now have a part in keeping healthy then they are absolutely welcome to hold it as cash.
That’s it? Seems like a small number
