14 votes

Rep. Christopher Collins (R-N.Y.) charged with insider trading, US federal prosecutors announce

Posted by unknown user
Tags: usa, politics, crime, house of representatives, insider trading, republican party, chris collins, politicians, author.renae merle, author.mike debonis, source.the washington post, paywall.hard
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8 comments

  1. [4]
    39hp
    Link
    Not just indicted. Arrested. Today is officially "okay."

    Not just indicted. Arrested.

    Today is officially "okay."

    10 votes
    1. delicious_grownups
      Link Parent
      I mean really, I can't help but see this as pretty gosh darn good

      I mean really, I can't help but see this as pretty gosh darn good

      4 votes
    2. Amarok
      Link Parent
      Indeed. Now, please follow that money trail to Albany and continue the good work there.

      Indeed. Now, please follow that money trail to Albany and continue the good work there.

      2 votes
    3. demifiend
      Link Parent
      I've got a schadenfreude boner that would shock my wife right now. Too bad the cancer treatments have done to her libido what years of right-wing voodoo economics have done to the average US...

      I've got a schadenfreude boner that would shock my wife right now. Too bad the cancer treatments have done to her libido what years of right-wing voodoo economics have done to the average US citizen's real wages over the last 40 years.

      1 vote
  2. demifiend
    Link
    Can we just stop going after Republicans piecemeal and just prosecute the entire party under the RICO Act? It seems that every day a different GOP official turns out to be an embezzler, involved...

    Can we just stop going after Republicans piecemeal and just prosecute the entire party under the RICO Act? It seems that every day a different GOP official turns out to be an embezzler, involved in insider trading, working with Russia, or gets caught cavorting with underage rent boys. This is ridiculous.

    We can do the same to the Democratic Party, just to be "fair", but I doubt it'll be as much fun.

    4 votes
  4. [2]
    Comment removed by site admin
    Link
    1. CALICO
      (edited )
      Link Parent
      If scribd is blocked on anyone else's work filters (wtf, IT?), here is an alternative host for the indictment itself. Edit: tl;dr of the indictment — Biotech Company was trialing a drug for...

      If scribd is blocked on anyone else's work filters (wtf, IT?), here is an alternative host for the indictment itself.

      Edit: tl;dr of the indictment —

      • Biotech Company was trialing a drug for Secondary Progressive Multiple Sclerosis
      • Drug failed, resulting in 92% drop in stock price
      • Rep. Collins was on the Board, and was a 16.8% shareholder. His son, 2.3%.
      • $768,000 in losses were avoided across those two, and six co-conspirators, utilizing inside info before the announcement of the drugs failure.
      6 votes
  5. [2]
    Comment removed by site admin
    Link
    1. 39hp
      Link Parent
      Geez so I guess he put the grift over party? Or should we expect more indictments for insider trading?

      Geez so I guess he put the grift over party? Or should we expect more indictments for insider trading?

      3 votes