I spent a few hours today working through congressional disclosure forms trying to put together the details on those five members of Congress who bought Chris Collins ridiculous penny stock.
2/ I’m certainly not the first to say this. But quite apart from Innate Immunotherapeutics it’s nuts the kinds of stocks a lot of these guys are buying and selling. It’s basically all crooked even if you’re not trying to be crooked. And it was clear. Lot of these guys are trying.
3/ As a member of Congress you inevitably get a lot of market moving information, even if it’s not technicality confidential. It’s not that members of Congress need to be monks. There are index funds, broad sector funds. Maybe you own some big blue chip for years and years.
4/ But even a cursory look at a few members showed a lot of buying and selling of pretty market sensitive stocks. It’s just super sleazy.
