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2020-03-25 -Lurid Crime Tales-

Peter Schweizer: Make Blind Trusts Mandatory for Members of Congress to End Insider Trading

[Breitbart] Members of Congress should be required to place their investments into blind trusts to avoid conflicts of interest, insider trading, and other forms of corruption related to their appropriations of taxpayer funds, said Peter Schweizer, senior contributor to Breitbart News and author of Profiles in Corruption: Abuse of Power by America’s Progressive Elite.

Schweizer offered his recommendation on Monday’s edition of SiriusXM’s Breitbart News Daily with host Alex Marlow. The two discussed Sen. Richard Burr’s (R-NC) recent selling of between $628,000 and $1.72 million in stock ahead of coronavirus-related market declines.

Congress’s access to information not made available to the public ‐ via confidential briefings and other means ‐ opens the door to insider trading, noted Schweizer, additionally highlighting Congress’s power to affect markets given its control of government appropriations.

Broad public distrust of Congress arises from people’s knowledge of representatives and senators making self-interested funding decisions that benefit their portfolios and financial interests.

"Here’s the problem," said Schweizer, addressing proposed relief funds for airline companies and other industries particularly damaged by the coronavirus pandemic, "members of Congress can trade stock in Delta Airlines or Boeing while they’re working on this bailout ‐ while they’re voting on it ‐ and it just throws the integrity of the whole process into question."

Schweizer added, "Members of Congress, is it worth it to have the American people distrust you so you can make some extra side money by insider trading on the market? Because that’s really ultimately what this is about. There’s no legitimate explanation or reason that they can give for them not to be required to put their assets in a blind trust."
Violators will be tried and if convicted, executed within 24 hours.

Posted by Besoeker 2020-03-25 00:00|| || Front Page|| [11133 views ] Top

#1 I'm sure they will find a way around this.

Posted by g(r)omgoru 2020-03-25 04:55|| 2020-03-25 04:55|| Front Page Top

#2 When you're blind, your other senses increase. You could even hear a phone call

Posted by Frank G 2020-03-25 06:32|| 2020-03-25 06:32|| Front Page Top

#3 Or wake up and smell the water...

Posted by European Conservative 2020-03-25 06:34|| 2020-03-25 06:34|| Front Page Top

#4 How about changing the law that allows congresscritters to convert their reelection funds into personal funds when they retire from office. Instead all remaining funds go to the Treasury. Nah, probably will just result in a lot more family members on the reelection staffs.

Posted by Procopius2k 2020-03-25 07:09|| 2020-03-25 07:09|| Front Page Top

#5 Here's a better idea - require all of them to invest solely in interest bearing savings accounts and Treasury bills. At least that would put a dent in the endless money printing, when they're now on the wrong end of that 'policy'.

Posted by Raj 2020-03-25 07:31|| 2020-03-25 07:31|| Front Page Top

#6 ^That could work.

Posted by g(r)omgoru 2020-03-25 07:32|| 2020-03-25 07:32|| Front Page Top

#7 It might make it more difficult. It ought to be a condition of serving the country to not engage in stock buying or selling during your term in office. As said above, they will probably finds ways around it. Public flogging and or Pilgrim's stockade might be a deterrent.

Posted by JohnQC 2020-03-25 08:56|| 2020-03-25 08:56|| Front Page Top

#8 Also read this a.m. that an investor is suing one of these Congresscritters.

Posted by JohnQC 2020-03-25 08:56|| 2020-03-25 08:56|| Front Page Top

#9 I would ban all private company ownership, whether through business or stock if you are in office. You are helping write the laws and regulations for these things and we don't need your personal ownership to get a better deal than Joe McSnuffy down the street.

Posted by DarthVader 2020-03-25 09:23|| 2020-03-25 09:23|| Front Page Top

#10 #9 And then nobody like Trump will ever run again.
Why not accept "don't bind the mouths of kine" as long as they don't overdo that.

Posted by g(r)omgoru 2020-03-25 09:29|| 2020-03-25 09:29|| Front Page Top

#11 Blind trust seems reasonable.

Posted by Marilyn Tojo7566 2020-03-25 16:16|| 2020-03-25 16:16|| Front Page Top

#12 At the end of a politicians limited term, shoot them.

Posted by Thaith Elmeresing6163 2020-03-25 19:23|| 2020-03-25 19:23|| Front Page Top

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