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?
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