The Atlanta Journal-Constitution reports that in addition to selling $18.7 million of Intercontinental Exchange stocks, Senator Loeffler and her husband also sold shares in retail stores such as Lululemon and TJ-Maxx and invested in a company that makes PPE garments.
Senator Loeffler's spokesperson claimed that the sales and purchases were made through a blind trust.
My questions for Professor Pitney are: What is the precedent for insider trading amidst global or national crises? I imagine that this is a common practice. What are some other examples? Do inside traders usually get away with it? Do members of Congress use spouses to remove liability? Are blind trusts actually blind?
This blog serves my Congress course (Claremont McKenna College Government 101) for the spring of 2024.
ABOUT THIS BLOG
I shall post videos, graphs, news stories, and other material there. We shall use some of this material in class, and you may review the rest at your convenience. You will all receive invitations to post to the blog. (Please let me know if you do not get such an invitation.) I encourage you to use the blog in these ways:
There are only two major limitations: no coarse language, and no derogatory comments about people at the Claremont Colleges.
To post questions or comments about the readings before we discuss them in class;
To follow up on class discussions with additional comments or questions.
To post relevant news items or videos.
There are only two major limitations: no coarse language, and no derogatory comments about people at the Claremont Colleges.
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