Texas Rep. Pat Fallon dumped
Microsoft stock before Pentagon
nixed $10B JEDI contract
New York Post,
by
Theo Wayt
Original Article
Posted By: Ribicon,
7/15/2021 1:41:05 PM
A congressman who supervises the Defense Department’s tech spending dumped up to $250,000 worth of Microsoft stock two weeks before the Pentagon revealed it was canceling a $10 billion contract with the software giant, according to public documents. US Rep. Pat Fallon, a Texas Republican who sits on a key subcommittee overseeing the Department of Defense’s technology policy, sold between $100,000 and $250,000 of Microsoft shares on June 21, government disclosures show.(Snip)According to the subcommittee’s site, Fallon and his colleagues have “jurisdiction over Department of Defense policy related to the acquisition of computer software.” If members of Congress or their families trade stocks based on nonpublic information,
Reply 1 - Posted by:
Ribicon 7/15/2021 1:43:45 PM (No. 846789)
FTA: "It’s not the first time that Fallon, sworn in just six months ago, has landed in hot water over his stock trades. In June, Insider reported that Fallon potentially violated federal ethics laws by failing to disclose up to $17 million in stock trades within 30 days of making them. At the time, a spokesperson for Fallon claimed the congressman was 'unfamiliar with how frequently members of Congress are required to file financial disclosures.' Fallon would comply with disclosure rules in the future, the rep added."
2 people like this.
Reply 2 - Posted by:
jalo1951 7/15/2021 2:00:29 PM (No. 846806)
Well, isn't that special?
7 people like this.
Reply 3 - Posted by:
hershey 7/15/2021 2:07:02 PM (No. 846819)
And that my friends, is a sample of how an un-wealthy person 'elected' to congress can become a multi-millionaire...think it's called 'insider trading'...
17 people like this.
Reply 4 - Posted by:
Flyball Dogs 7/15/2021 2:08:23 PM (No. 846822)
Further proof that Repubs are just as corrupt as the Communists. Except they usually dress better so the corruption is somewhat hidden or they have enough perfume on to mask the stench.
So now we can check Swamp Creature as his “identity.”
15 people like this.
Reply 5 - Posted by:
Birddog 7/15/2021 2:18:56 PM (No. 846834)
Mabeee....someone should ask WHEN exactly that oversight sub-committee was informed of the DoD's "Surprise" cancellation(abrogation) of a congressionally approved contract...I'd be willing to bet that it was not 2weeks prior to the Media announcing it. Rather, IF it had been earlier it would have Leaked to the media sooner. The many Congrescriitters bought/paidfor/owned by Amazon could not help but crow of their Noble Victory in creating the cancellation to their media family and friends the moment it was achieved.
1 person likes this.
Reply 6 - Posted by:
chance_232 7/15/2021 2:22:40 PM (No. 846844)
Why is it that only Republicans get caught? Meanwhile, Reid, Pelosi, Clinton, Biden, Feinstein al never get questioned.
11 people like this.
Reply 7 - Posted by:
Son of Grady 7/15/2021 2:25:29 PM (No. 846847)
No doubt Sen. Richard Burr gave him "thumbs up" before the trade.
3 people like this.
Reply 8 - Posted by:
Nimby 7/15/2021 2:28:04 PM (No. 846853)
He probably will not get re-elected. decided to make $$$ when the sun shines
3 people like this.
Reply 9 - Posted by:
downnout 7/15/2021 4:26:17 PM (No. 846961)
This is how congress critters become wealthy. However I’ll point out that M/S hit a new high after he sold.
1 person likes this.
Reply 10 - Posted by:
Subsuburban 7/15/2021 4:56:11 PM (No. 846993)
Pelousy's husband scores millions in his tech stock wheeling and dealing, and crickets. This Republican schlub manages a measly couple thousand and gets his tender bits in the wringer. Yeah, I know they are both wrong, but seriously, there is an order of magnitude between them. I say they all need to face the music and dance... at the end of the proverbial rope! (In case you're watching my comms, NSA, I'm using rhetorical hyperbole here. Not serious abut that rope thing.)
1 person likes this.
Reply 11 - Posted by:
Philipsonh 7/15/2021 5:45:15 PM (No. 847054)
All the comments I have read here indicate the folks know VERY LITTLE about the stock market. If they read the whole article and still do not understand, they are also illiterate. The guy bought the stock and OPTIONED it away, earning the premium but NOT the GAIN. If he had had upfront knowledge of the cancellation, he would have never done a trade like that.
1 person likes this.
Reply 12 - Posted by:
5 handicap 7/15/2021 6:05:50 PM (No. 847070)
This is a whole lot of hoorah about nothing! The Post is going overboard to paint a bad picture of a Republican!
0 people like this.
Reply 13 - Posted by:
Rumblehog 7/15/2021 6:18:53 PM (No. 847084)
Time to go to JAIL you punk.
0 people like this.
Reply 14 - Posted by:
Geoman 7/15/2021 7:52:43 PM (No. 847145)
This article is proof of nothing, anymore than the fresh media reports of Trump-Russia election collusion. It was common knowledge within the IT community that the Pentagon strongly favored Amazon for their cloud computing services, so much so it is the Pentagon that should be investigated. This appears to be another tactical deflection from the most anti-American, corrupt administration in US history and the media appears to be a part of this administration. Of course, like trying to revive the Steele dossier allegations, the media is on a full court press to protect the communists that call themselves democrats and tarnish any possibility that a Trump can run for president again. They don't need our help, as they seem to be doing a fine job of muck raking.
0 people like this.
Reply 15 - Posted by:
milwaukeeroad 7/15/2021 9:09:56 PM (No. 847199)
Two Hundred Fifty large? What’s the big deal. That amount won’t even qualify to buy a Hunter Biden Original painting.
2 people like this.
Reply 16 - Posted by:
homefry 7/16/2021 7:40:12 AM (No. 847530)
Elected officials should be banned from trading stocks.
0 people like this.
Reply 17 - Posted by:
NamVet70 7/16/2021 2:27:00 PM (No. 848022)
So the left knows his motivation for these trades? That sounds like something rather hard to prove. Did any Democrats do similar trades?
0 people like this.
Below, you will find ...
Most Recent Articles posted by "Ribicon"
and
Most Active Articles (last 48 hours)
Comments:
The trick is to have your spouse make the trades, then claim that you don't discuss related information. It works fine for Nancy Pelosi, like a rigged roulette wheel available only to American elite.