3 ms·

Obviously if you redefine the term, you can make it whatever you want. ...but in legal-reality it has a specific meaning that doesn't cover what you're referri

Obviously if you redefine the term, you can make it whatever you want. ...but in legal-reality it has a specific meaning that doesn't cover what you're referring to. Also, the notion that Congress found out about COVID-19 before everyone else is ludicrous. People who took the time to read the reports out of China sold WELL BEFORE even congress sold. I know - I was one of them. The problem is that MSM did NOT cover the outbreak in China. Many accused those who did of racism and posts on social media were squashed from brigades more concerned with "fear-mongering".

nerdponx 6y ago
The story about Congress trading on Covid news (and briefings?) is not that they traded, it's that they traded and didn't do much else except wait for 500k people to die.
ALittleLight 6y ago
I don't think I'm redefining the term. "Insider trading involves trading in a public company's stock by someone who has non-public, material information about that stock for any reason. Insider trading can be either illegal or legal depending on when the insider makes the trade. It is illegal when the material information is still non-public, and this sort of insider trading comes with harsh consequences." https://www.investopedia.com/terms/i/insidertrading.asp https://www.investopedia.com/terms/i/insidertrading.asp
- koheripbal 6y ago
  "about that stock" is not phrased well in that entry. It makes it sound like any information that isn't public that might impact that stock is legally "insider trading". That is not correct. It has to be non-public *company* information - not just ANY non-public information. If you discover a comet in outer space that is going to crash into McDonalds HQ. Shorting that stock does not make you an insider. That's why it's called INSIDER trading. Because it's all about the non-public information INSIDE the corporation in question.
  - Consultant32452 6y ago
    It seems clear to me that the government has insider information. For example, they get classified briefings on all manner of things and they determine how and where government money is spent. I would agree that it's not legally insider trading, because of course the people who wrote the laws on insider trading excluded their privileged knowledge from being considered insider trading in the law.

nerdponx 6y ago

The story about Congress trading on Covid news (and briefings?) is not that they traded, it's that they traded and didn't do much else except wait for 500k people to die.

ALittleLight 6y ago

I don't think I'm redefining the term. "Insider trading involves trading in a public company's stock by someone who has non-public, material information about that stock for any reason. Insider trading can be either illegal or legal depending on when the insider makes the trade. It is illegal when the material information is still non-public, and this sort of insider trading comes with harsh consequences." https://www.investopedia.com/terms/i/insidertrading.asp https://www.investopedia.com/terms/i/insidertrading.asp

koheripbal 6y ago
"about that stock" is not phrased well in that entry. It makes it sound like any information that isn't public that might impact that stock is legally "insider trading". That is not correct. It has to be non-public *company* information - not just ANY non-public information. If you discover a comet in outer space that is going to crash into McDonalds HQ. Shorting that stock does not make you an insider. That's why it's called INSIDER trading. Because it's all about the non-public information INSIDE the corporation in question.
- Consultant32452 6y ago
  It seems clear to me that the government has insider information. For example, they get classified briefings on all manner of things and they determine how and where government money is spent. I would agree that it's not legally insider trading, because of course the people who wrote the laws on insider trading excluded their privileged knowledge from being considered insider trading in the law.