Republican Rep Chris Collins indicted for inside trading

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

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 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.


.

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?

polecat wrote:

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

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.

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

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.

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.

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?