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Senator dumped up to $1.6M of stock after reassuring public on Covid-19

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41–44 of 44 posts

Re: Senator dumped up to $1.6M of stock after reassuring public on Covid-19

#41

There is a rather amusing line in his wikipedia entry [0], given the current context: > In fall 2008, during that year's financial crisis, Burr said he was going to an ATM every day and taking out cash because he thought the financial system was going to soon collapse. In April 2009, in response to press about his experience, Burr told NC public radio station WFAE that he would do the same thing again next time. [0]…

i've been pulling out my max cash withdrawal limit from cash machines every day since we hit 10% down in the markets. of course cash is probably useless when a bank run does happen, but it does give you a sense of safety and is something you can simply redeposit.

Re: Senator dumped up to $1.6M of stock after reassuring public on Covid-19

#42
post #32

Smart guy. I'd be about 30% richer today if I did the same.

No you wouldn't. Everyone would be in your boat. He has info you did not which is how he did it. It's not smart. It's just unscrupulous. It may also turn out to be really, really dumb. At least I hope so.

to be fair, anyone watching china cases emerge in january should have done the same thing. hindsight is 20/20 and all, but when china didn't lock their borders down right away should have been a major warning sign

Re: Senator dumped up to $1.6M of stock after reassuring public on Covid-19

#44
post #32

Earlier quoted context omitted.

No you wouldn't. Everyone would be in your boat. He has info you did not which is how he did it. It's not smart. It's just unscrupulous. It may also turn out to be really, really dumb. At least I hope so.

He can buy back in at a lower level and probably double his gains. You can't say he made a bad decision.

Financially it could be, and i hope it is, a disaster. Insider trading is a thing. Saying one thing about privileged information in public while trading as though the opposite is true could well come back and bite him very, very hard.

Dumb. Corrupt. Doesn't matter how common crime is for it to be worth prosecuting.

If you did it on public info. Fine. Redistribution of wealth from those who did not to you for being faster. If you did on information you then lied about in public, in an official capacity. Rot in jail you crook.

Even if he "gets away with it" no sane individual would ever trust him with anything ever again.

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