Richard Burr's insider trading
scandal is a national security risk
Washington Examiner,
by
Kevin Carroll
Original Article
Posted By: StormCnter,
5/20/2020 5:14:10 PM
An old tale goes something like this. A rich man asks a beautiful woman if she’ll sleep with him for a million dollars. “Sure!” she replies. “How about for a hundred bucks?” he asks. She indignantly responds, “What kind of woman do you think I am?” He answers, “We’ve determined that, madam. We’re just haggling over the price.”
This hoary old chestnut came to mind when news broke that the FBI seized Senate Intelligence Committee Chairman Richard Burr’s cellphone, pursuant to a warrant issued by a judge upon probable cause, in an investigation of Burr allegedly misusing information from a classified Feb. 4 briefing
Reply 1 - Posted by:
BarryNo 5/20/2020 5:24:55 PM (No. 417171)
And what about the other people who did this? Go after Burr? Fine by me. Ignore someone because they did the same thing but they're of the 'right' (left) party? Equal Justice for all, buddy.
16 people like this.
Reply 2 - Posted by:
TJ54 5/20/2020 5:29:09 PM (No. 417172)
Why did the article not highlight Diana Feinstein, Demtard, Kalifornia? You know the gal with the Chinese spy chauffeur who tried to sabotage Justice Kavanaugh
25 people like this.
Reply 3 - Posted by:
rochow 5/20/2020 6:24:34 PM (No. 417198)
Hey, Federal Bureau of Idiots, don't forget to go after Feinschwein!! Her husband won every bid for anything to be done in China. No one ever stood a chance. Coincidence that she had a Chinese driver for over 20 years??? Was that a quid pro quo?? Nah, in California we are not racist!! She too learned about the virus and immediately dropped a lot of stocks. Just another coincidence! Just like a few other coincidences that came to light during the Blowsey Ford/Kavanaugh hearings!
13 people like this.
Reply 4 - Posted by:
earlybird 5/20/2020 6:25:32 PM (No. 417200)
Leaving aside significant criminal penalties for potential mail, securities, tax, and wire fraud violations (as well as conspiracy) from insider trading, the U.S. code provides that anyone entrusted to classified information who through gross negligence allows it to be “delivered to anyone in violation of his trust” or who uses signals intelligence “in any manner prejudicial to the safety or interest of the United States” is subject to a decade in prison.
Burr faces real legal jeopardy.
Is Burr the only one?
12 people like this.
Reply 5 - Posted by:
3XALADY 5/20/2020 7:09:49 PM (No. 417223)
What did Kelly Loeffler know and when did she know it?
8 people like this.
Reply 6 - Posted by:
justavoter 5/20/2020 7:16:19 PM (No. 417228)
Sen. Burr has the unfortunate circumstance of being a Republican representing a state with a Democrat Governor with the power to replace his position after he is forced to resign with another Democrat
7 people like this.
Reply 7 - Posted by:
NYbob 5/20/2020 7:40:44 PM (No. 417241)
Hey the rats just won a senate seat and they didn't have to spend a dime on campaigning. 'Security risk?' Wait till Kevin and the nightly news find out about selling all that uranium to Russia and the irony of who profited by the sale. Hint, she is a fat slob who has to be tossed into a speeding van by her helpers after she has been standing too long.
1 person likes this.
Reply 8 - Posted by:
davew 5/20/2020 7:53:50 PM (No. 417247)
There's a difference between "real" insider trading and emotion driven trading which is what Burr did. He like many others at the time saw information that suggested there could be a significant black swan event in the market due to the spread of the pandemic. There would have been no way to know with certainty what the extent of the market impact would be or how it would affect his portfolio positions specifically. He just reacted emotionally and went to cash thereby incurring capital gains costs. I don't know what positions he held but unless they were hotel or airline stocks many of the technology and big box retail stocks are actually near or above their pre-crash levels. Maybe he was smart enough to put his cash to work at the bottom but people who cash out at the top typically don't have the stomach to reinvest in the market this quickly as evidenced by the large inflows to money markets that are still at historic highs.
My point is that real insider trading is what "Dollar" Bill does on Showtime's "Billions". He gets non-public information on a specific company that is only known to principles of the company and when he trades, either long or short, he is "not uncertain". A real trader would never just go to cash. There is no emotion or judgement involved because the outcome is rigged. That's not what Burr or the others who sold in February either based on their own emotions or the advice of advisers did.
4 people like this.
Reply 9 - Posted by:
MuncsSister 5/20/2020 8:06:30 PM (No. 417250)
Want to bet the terms of his upcoming deal with the FBI will include his resignation before November 3rd? Both sides know Burr has zero integrity and no party loyalty, and since the FBI is the law enforcement wing of the DNC, we know how this will play out.
5 people like this.
Reply 10 - Posted by:
earlybird 5/20/2020 9:31:37 PM (No. 417289)
Recommend a read of the article which describes in detail what Burr did and why it was wrong for him to do it. It was also wrong for him to share that very classified information with his brother-in-law who also dumped stock. And heaven only knows what the broker did with that classified insider information.
4 people like this.
Reply 11 - Posted by:
lazlototh 5/20/2020 10:21:15 PM (No. 417299)
I don't believe the article is correct though. To engage in insider trading you typically have to have knowledge about a specific stock rather than an overall threat to the market. This is unseemly if after the meeting he went off and sold the stock, but it's not at all clear that it was illegal.
0 people like this.
Reply 12 - Posted by:
watashiyo 5/20/2020 10:53:34 PM (No. 417311)
His crime was, ....he got caught.
1 person likes this.
Reply 13 - Posted by:
stablemoney 5/20/2020 11:53:38 PM (No. 417333)
Burr broke the law and should be removed. We can find an honest Republican, can't we?
2 people like this.
Reply 14 - Posted by:
Trigger2 5/21/2020 5:31:20 AM (No. 417441)
I hope Burr goes to jail and you know what? I don't care if he's labeled a Republican because he isn't. He's a demonrat pretending to be republican. I say good riddance or maybe not because demonrats have a way of protecting their corrupt politicians or maybe they've already decided Burr's usefulness has reached the end.
0 people like this.
Reply 15 - Posted by:
skacmar 5/21/2020 1:05:41 PM (No. 417856)
Senator Richard Burr shoud write an e-mail memo to himself about how his financial transactions occurred "by the book" and had nothing to do with any knowledge gained from his Covid-19 briefing a few days prior to the trades. I'm sure that will make everything OK if we follow the Susan Rice memo standard set by the Obama administration.
0 people like this.
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