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Republican Rep Chris Collins indicted for inside trading

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I am convinced that Trump's intrusions into the markets is not just stupidity. He is probably self dealing with old NY mob crowd, the Russian Mafia which was buying his condos in the 80s, Russian Oligarchs and money men, and Putin and his vast financial empire. No, these tariffs are just too stupid to be without purpose to enrich Trump.

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This guy was the first congressman to support Trump, and he is denying the charges, but faces years in jail for passing inside information to his son and father in law.......birds of a feather......

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Collins was on the board of the company and the largest shareholder.

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Bone Spur will cry witch hunt and pardon his fellow mafia boy.

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Here's the info on Price. This is from back in January 2017, so the SEC and FBI have been investigating this for a while.



Trump's top health official nominee got a special deal on an investment, contrary to what he told Congress

Tom Price, President Donald Trump's nominee for secretary of Health and Human Services, received a private placement investment available only to a limited number of investors in the US, according to The Wall Street Journal.

Price told the US Senate Finance Committee in his confirmation hearing that shares of Innate "were available to every single individual that was an investor at the time."

But according to Innate's CEO, only a few US investors were allowed to buy the stock at a discounted price. The deal was available to all Australian and New Zealand-based shareholders.

The Journal reported that fewer than 20 US investors purchased the stock, which was given at a 12% discount. Price's total investment was worth between $50,000 and $100,000 according to the nominee's financial disclosures.

Price was told about the company by fellow congressman Chris Collins, who had previously invested in the company. Collins told the Journal that he reached out to Price about the investment, inviting him to take part in the deal at a discounted price.


https://www.businessinsider.com/tom-price-trump-hhs-pick-innate-immunotherapeutics-investment-2017-1

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Politics has always attracted slimy people and crooks .... and the American people just keep on electing them.

The only real solution is to get the money out of government.   So long as government is involved in spreading taxpayer dollars around, manipulating markets & financial activities, and picking winners and losers, this problem will never go away.

I voted for Gary Johnson for the same reason I worked for the Carter campaign when I was a teen.  Not so much for their proposed policies ... rather because they were decent honest human beings.  (unlike Trump & Hillary)

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EmeraldGhost wrote:The only real solution is to get the money out of government.  

This has to be one of the dumbest comments in recorded memory. EVERYTHING government does, from bridges to rifles to airports and hospitals takes money.


                                    

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"I acted appropriately" I was only trying to help people with MS......nothing he said addressed the issue. Did you give inside information to your family where they dumped their shares saving 900k......oh I am running again.

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2seaoat wrote:"I acted appropriately"   I was only trying to help people with MS......nothing he said addressed the issue.  Did you give inside information to your family where they dumped their shares saving 900k......oh I am running again.

"The sales by Cameron Collins, his girlfriend, and her parents, including Stephen Zarsky, made up more than 53% of the stock's trading volume [on June 23] and exceeded Innate's 15-day average trading volume by more than 1,454%."

https://www.businessinsider.com/chris-collins-arrest-insider-trading-stocks-congress-2018-8

That red bar at the bottom of the chart is Collins & Co. dumping their shares. How on earth did they think no one would notice?


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If Collins were guilty of improperly tipping his son off to inside company information, you would think he would have sold his own shares in the company, of which he owned far, far, more than his son did.  But he didn't.  Explain that, if you will?

And they base this bogus charge solely on a coincidentally timed phone call which they can't even prove the substance of what was discussed in that call.  A call to his son, no less!   I don't know about the rest of you, but I talk on the phone with one or more of my children almost every day.  And yes, some of them have some of the same companies and funds in their portfolios as we do.

This case is clearly just more of the Deep State (of which certain elements within the FBI are part and parcel)] Witch Hunt to tear down President Trump and his efforts to Make America Great Again.   Doubtless the President will be getting around to cleaning house at the DOJ, and specifically at the FBI soon enough.

This particular US Attorney was never nominated or appointed to his position, rather he was installed by a court on an interim basis.

Seems the other users on here have already convicted Congressman Collins in their own kangaroo court of liberal opinion.  Whatever happened to innocent until proven guilty?  Due process?  Evidence?  But of course with loony liberals those particular very American concepts only apply to other loony liberals.  

What this is really about is a Deep State attempt to tip the upcoming midterm election in favor of Collins opponent.  


Collins stoutly maintains his innocence and fully intends to go forward with his reelection campaign.   Good for him.   I hope this prosecutor and his minions are removed from office when Collins is acquitted.


The Latest Witch Hunt Victim: Rep. Chris Collins
The Deep State Is Desperate To Crucify Republicans For Non-Crimes After Their Russian Collusion Hoax Went Bust
.

Federal goons showed up at the house of Rep. Chris Collins (R-NY) today in order to arrest the Congress on insider trading charges that seem rather dubious.

The charges stem from Collins’ involvement with Innate Immunotherapeutics, a pharmaceutical company based out of Australia. He, his son, and father-in-law to be all owned significant shares of the company’s stock with Collins being the primary shareholder. All three men have been charged with conspiracy to commit securities fraud by the U.S. Attorney’s Office in the Southern District of New York.

“Representative Collins, who, by virtue of his office, helps write the laws of this country, acted as if the law did not apply to him,” U.S. Attorney Jeffrey Berman said at a press conference. “These charges are a reminder that this is a nation of laws, and everyone stands equal before the bar of justice.”

The charges stem from a string of phone calls placed between Collins, his son Cameron and other alleged co-conspirators after a drug trial failure. They supposedly dumped considerable shares of stock before knowledge of the drug trial failure went public.

Collins is not taking this lying down and intends to fight for his innocence against politically-motived charges coming as the result of a partisan conspiracy to hurt the Republicans and President Trump in the run up to crucial mid-term elections in November.

“We will answer the charges filed against Congressman Collins in Court and will mount a vigorous defense to clear his good name,” they said. “It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics [sic] stock. We are confident he will be completely vindicated and exonerated.”

Despite the fact that he never even traded the stock after learning of the drug trial failure, Collins is being prosecuted anyway. The alleged “crime” of insider trading should not be a criminal act at all, according to certain free market economists.

Bob Murphy at the Mises Institute explains further:

“In general, speculators perform a useful social service when they are profitable. By buying low and selling high (or by short-selling high and covering low), stock speculators actually speed up price adjustments and make stock prices less volatile than they otherwise would be…

Even though we can look at any particular transaction and tally up the “winners” and “losers,” the presence of speculators enhances the overall functioning of the stock market. For example, the market for any particular security is more liquid when there are rich speculators who will quickly pounce on a perceived mistake in pricing. If an institutional investor (such as a firm managing pensions) suddenly has a cash crunch and needs to dump its holdings, speculators will swoop in and put a floor under the fire-sale price. This is good for the beleaguered pension fund, and for the stock market in general.

Crackdowns on insider trading are harmful because they chill the cultivation of superior knowledge and speculative correction of market prices. Beyond this loss of general economic efficiency, insider-trading laws are insidious because of the arbitrary power they give to government officials.”

In addition, members of Congress have openly committed insider trading for many years. A phony “reform” was signed into law by former President Obama, but it is very easy to work around. This is one of the ways Congressmen become multimillionaires after obtaining office despite a meager annual salary of taxpayer dollars.

Yet again, corrupt federal prosecutors are making a mockery of justice and using blatant double-standards as they continue the deep state’s crusade to destroy President Trump’s ‘America First’ agenda and the Republican Congress.



.

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ConservaLady wrote:If Collins were guilty of improperly tipping his son off to inside company information, you would think he would have sold his own shares in the company, of which he owned far, far, more than his son did.  But he didn't.  Explain that, if you will?

And they base this bogus charge solely on a coincidentally timed phone call which they can't even prove the substance of what was discussed in that call.  A call to his son, no less!   I don't know about the rest of you, but I talk on the phone with one or more of my children almost every day.  And yes, some of them have some of the same companies and funds in their portfolios as we do.

This case is clearly just more of the Deep State (of which certain elements within the FBI are part and parcel)] Witch Hunt to tear down President Trump and his efforts to Make America Great Again.   Doubtless the President will be getting around to cleaning house at the DOJ, and specifically at the FBI soon enough.

This particular US Attorney was never nominated or appointed to his position, rather he was installed by a court on an interim basis.

Seems the other users on here have already convicted Congressman Collins in their own kangaroo court of liberal opinion.  Whatever happened to innocent until proven guilty?  Due process?  Evidence?  But of course with loony liberals those particular very American concepts only apply to other loony liberals.  

What this is really about is a Deep State attempt to tip the upcoming midterm election in favor of Collins opponent.  


Collins stoutly maintains his innocence and fully intends to go forward with his reelection campaign.   Good for him.   I hope this prosecutor and his minions are removed from office when Collins is acquitted.


The Latest Witch Hunt Victim: Rep. Chris Collins
The Deep State Is Desperate To Crucify Republicans For Non-Crimes After Their Russian Collusion Hoax Went Bust
.

Federal goons showed up at the house of Rep. Chris Collins (R-NY) today in order to arrest the Congress on insider trading charges that seem rather dubious.

The charges stem from Collins’ involvement with Innate Immunotherapeutics, a pharmaceutical company based out of Australia. He, his son, and father-in-law to be all owned significant shares of the company’s stock with Collins being the primary shareholder. All three men have been charged with conspiracy to commit securities fraud by the U.S. Attorney’s Office in the Southern District of New York.

“Representative Collins, who, by virtue of his office, helps write the laws of this country, acted as if the law did not apply to him,” U.S. Attorney Jeffrey Berman said at a press conference. “These charges are a reminder that this is a nation of laws, and everyone stands equal before the bar of justice.”

The charges stem from a string of phone calls placed between Collins, his son Cameron and other alleged co-conspirators after a drug trial failure. They supposedly dumped considerable shares of stock before knowledge of the drug trial failure went public.

Collins is not taking this lying down and intends to fight for his innocence against politically-motived charges coming as the result of a partisan conspiracy to hurt the Republicans and President Trump in the run up to crucial mid-term elections in November.

“We will answer the charges filed against Congressman Collins in Court and will mount a vigorous defense to clear his good name,” they said. “It is notable that even the government does not allege that Congressman Collins traded a single share of Innate Therapeutics [sic] stock. We are confident he will be completely vindicated and exonerated.”

Despite the fact that he never even traded the stock after learning of the drug trial failure, Collins is being prosecuted anyway. The alleged “crime” of insider trading should not be a criminal act at all, according to certain free market economists.

Bob Murphy at the Mises Institute explains further:

“In general, speculators perform a useful social service when they are profitable. By buying low and selling high (or by short-selling high and covering low), stock speculators actually speed up price adjustments and make stock prices less volatile than they otherwise would be…

Even though we can look at any particular transaction and tally up the “winners” and “losers,” the presence of speculators enhances the overall functioning of the stock market. For example, the market for any particular security is more liquid when there are rich speculators who will quickly pounce on a perceived mistake in pricing. If an institutional investor (such as a firm managing pensions) suddenly has a cash crunch and needs to dump its holdings, speculators will swoop in and put a floor under the fire-sale price. This is good for the beleaguered pension fund, and for the stock market in general.

Crackdowns on insider trading are harmful because they chill the cultivation of superior knowledge and speculative correction of market prices. Beyond this loss of general economic efficiency, insider-trading laws are insidious because of the arbitrary power they give to government officials.”

In addition, members of Congress have openly committed insider trading for many years. A phony “reform” was signed into law by former President Obama, but it is very easy to work around. This is one of the ways Congressmen become multimillionaires after obtaining office despite a meager annual salary of taxpayer dollars.

Yet again, corrupt federal prosecutors are making a mockery of justice and using blatant double-standards as they continue the deep state’s crusade to destroy President Trump’s ‘America First’ agenda and the Republican Congress.



.


Would you ask the ''DEEP STATE'' to release trumps taxes.

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ConservaLady wrote:If Collins were guilty of improperly tipping his son off to inside company information, you would think he would have sold his own shares in the company, of which he owned far, far, more than his son did.  But he didn't.  Explain that, if you will?

He knew he couldn't because he was already under investigation by the Ethics committee. He's crooked not stupid. Unlike you.

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polecat wrote:

Would you ask the ''DEEP STATE'' to release trumps taxes.

Why should he?  So the loony leftist media can try and twist his tax information and make it out to the public to be something other than it actually is?

I've no doubt, being a multi-billionaire businessman with many complicated deals continually in the works,  that President Trump's taxes are far far more complicated than most Americans would be able to even comprehend.  As such, that information would be quite vulnerable to various things being twisted and misconstrued by the loony left media to be something they are not.  So I don't blame him one bit for not releasing them.  Why give the Deep State more fodder for another bogus public witch hunt?

The IRS knows all about President Trump's taxes.   No doubt he has a small army of the best professional tax accountants and attorneys that do his taxes.   I've heard of no indictments for any kind of irregularities with President Trump's taxes.  Not even so much as a hint of any.

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ConservaLady wrote:
polecat wrote:

Would you ask the ''DEEP STATE'' to release trumps taxes.

Why should he?  So the loony leftist media can try and twist his tax information and make it out to the public to be something other than it actually is?

I've no doubt, being a multi-billionaire businessman with many complicated deals continually in the works,  that President Trump's taxes are far far more complicated than most Americans would be able to even comprehend.  As such, that information would be quite vulnerable to various things being twisted and misconstrued by the loony left media to be something they are not.  So I don't blame him one bit for not releasing them.  Why give the Deep State more fodder for another bogus public witch hunt?

The IRS knows all about President Trump's taxes.   No doubt he has a small army of the best professional tax accountants and attorneys that do his taxes.   I've heard of no indictments for any kind of irregularities with President Trump's taxes.  Not even so much as a hint of any.

Income taxes are so complicated that many have accountants do theirs just to avoid having to try and figure out all the requirements and calculations. No doubt Trump's tax returns are convoluted and/or complicated.

The benefit to having him release his taxes, which we're all sure Mueller already has (and a congressional committee could demand) would be to show good faith, a recognition to the norms of recent campaigns. It would have shown a respect for the system and an acknowledgement that he is willing to play by the rules.

The point is not that most of us would not be able to understand them. The point is that revealing them would show that he understands how an ethical candidate for the presidency respects the public. It would show that he respects the way our system works. He does not respect the system, traditions, norms or institutions of our government and uses the excuse that his returns are being audited, which would not have prevented him from disclosing them.

We cannot understand his tax returns but it would be interesting to see how many loans and business transactions he has ongoing with Russian connected banks and interests (maybe none?). It would be nice to see who he owes money to. Things like that. Things the public deserves to know.  

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I've heard of no indictments for any kind of irregularities with President Trump's taxes. Not even so much as a hint of any.


As opposed to Chris Collins calling you and saying......you know, the closed grand jury deliberations are not public, but I saw your name and number in the jail holding cell and thought I would give you a heads up.

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othershoe1030 wrote:a recognition to the norms of recent campaigns.


The "norms", huh?  Where are these "norms" in the Constitution or law?  

Trump is all about ignoring what liberals consider "the norms" when they are pointless and possibly detrimental to his agenda of Making America Great.

The fake loony liberal mainstream media so loudly bemoan Trump's disregard for their "norms",  (emphsasis on "their") because it gives them less fodder to twist up and mischaracterize in order to manipulate public sentiment with regard to the President and to damage his agenda.

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ConservaLady wrote:
othershoe1030 wrote:a recognition to the norms of recent campaigns.


The "norms", huh?  Where are these "norms" in the Constitution or law?  

Trump is all about ignoring what liberals consider "the norms" when they are pointless and possibly detrimental to his agenda of Making America Great.

The fake loony liberal mainstream media so loudly bemoan Trump's disregard for their "norms",  (emphsasis on "their") because it gives them less fodder to twist up and mischaracterize in order to manipulate public sentiment with regard to the President and to damage his agenda.

Yes indeed! Norms, let's see...The Norms are customs and as a result expectations that develop over time. They are, you might say, the guardrails of politics. Up to this point it has not been necessary put them into law.

The assumption being of course that the person running for president would naturally have enough respect for the country to follow the norms. We have seen during Trump's rampage through his tenure that he has zero respect for this very important concept. You seem to see this as a virtue. I see it as a vice, or in his case a mental illness. In some cases it is laziness on his part coupled with ignorance. He does not know what the norms are and either does not care (likely) or is so self-consumed that he thinks since he is by-god president that Donny will do whatever springs into his warped mind at the moment.

One of the expectations resulting from norms is that nominees for president disclose their tax returns. It serves the purpose of acknowledging the importance of transparency and a recognition that the president is a servant of the American people.

The candidate exposes the details in order to demonstrate honesty. A normal tax return is reassuring to voters as it shows a life lived in accordance with the law and no unusual debts or foreign entanglements that might make the person vulnerable to any sort of manipulation. Trump was obviously unable/unwilling to do this and lied about not being able to due to a (likely) nonexistent audit. Said audit would not preclude him from disclosing his returns anyway but then let's not let the facts get in the way.

This president is admired by his followers precisely because he kicks over the traces and does his own thing. I submit that he is not doing his own thing at all but rather he is doing Putin's thing. He is trying to tear down the very institutions that have kept America in a leadership position in the world. He is not making America great again. He is distancing us from our traditional allies and weakening us in the eyes of the world. His erratic behavior may have served him well as a reality show host but he is clearly "the dog who caught the car" and is in way over his head.

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Take that, Mustache Sally!

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othershoe1030 wrote:
The assumption being of course that the person running for president would naturally have enough respect for the country to follow the norms.

In light of the fact slavery, Jim Crow, oppression of women, and a lot of other things were once "norms", would you care to reevaluate that statement?

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ConservaLady wrote:
othershoe1030 wrote:
The assumption being of course that the person running for president would naturally have enough respect for the country to follow the norms.

In light of the fact slavery, Jim Crow, oppression of women, and a lot of other things were once "norms", would you care to reevaluate that statement?

We were speaking of norms of expected behavior re the president not attitudes of society that were ignored as being the status quo or widely accepted. There were many laws at the time upholding slavery by the way. The same goes for women's rights re voting and holding property to name a couple.

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In light of the fact that your question was uninformed, I wonder if you'd like to reevaluate it?

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Rep. Chris Collins suspends re-election campaign after insider trading charges
It is unclear if Collins can remove his name from the ballot at this stage in the race, and he previously vowed to continue his run after being charged.





https://www.nbcnews.com/politics/politics-news/rep-chris-collins-suspends-re-election-campaign-after-insider-trading-n899881

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