Opinion | Craig Holman and Lisa Gilbert: Burr's insider trading is as bad as it looks. Even Fox News says he must resign. - NBCNewsTHINK
which made congressional insider trading illegal for the very first time. The Stock Act also set up a disclosure system to monitor compliance with the law. Members of Congress must post on the Internet all of their stock transactions within 45 days.As chairman of the Senate Intelligence Committee, Burr is in an ideal position to receive top-level, non-public information about very real threats to national security and the economy — including any threats posed by the burgeoning pandemic.
If Burr did dump his stocks based on what he considered reliable inside information gleaned from his perch as committee chairman, that should constitute congressional insider trading and a violation of the Stock Act. If other senators similarly knowingly saved their own fortunes based on nonpublic information gathered at the congressional briefing, that too would constitute congressional insider trading.
Getting to the root of this scandal and determining whether these senators illegally traded on non-public material information now requires an official investigation by an enforcement agency with subpoena authority. Getting to the root of this scandal now requires an official investigation by an enforcement agency with subpoena authority.
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