Rand Paul discloses 16 months late that his wife bought stock in company behind covid treatment
Source: Washington Post
Sen. Rand Paul revealed Wednesday that his wife bought stock in Gilead Sciences which makes an antiviral drug used to treat covid-19 on Feb. 26, 2020, before the threat from the coronavirus was fully understood by the public and before it was classified as a pandemic by the World Health Organization.
The disclosure, in a filing with the Senate, came 16 months after the 45-day reporting deadline set forth in the Stock Act, which is designed to combat insider trading.
Experts in corporate and securities law said the investment, and especially the delayed reporting of it, undermined trust in government and raised questions about whether the Kentucky Republicans family had sought to profit from nonpublic information about the looming health emergency and plans by the U.S. government to combat it. Several senators sold large amounts of stocks in January or February of last year, prompting a handful of insider-trading probes. Most of those investigations concluded in the spring of 2020, according to notifications from the Justice Department to lawmakers under scrutiny.
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Read more: https://www.washingtonpost.com/politics/2021/08/11/rand-paul-gilead-stock/
rurallib
(62,411 posts)sheshe2
(83,751 posts)njhoneybadger
(3,910 posts)SoCalDavidS
(9,998 posts)He's above the law.
TexasTowelie
(112,160 posts)he should have to forfeit any profits made in the stock and at least half of the price at which the stock was purchased. Or $5,000 -- whichever is greater.
bucolic_frolic
(43,148 posts)the longer they can keep the pandemic going the more potential to hit pay dirt. Hence, no masks are in their best financial interest.
See how that works?
Libertarians making money from suffering.
patphil
(6,172 posts)Nothing like a financial incentive to bring forth the worst in this guy.
JohnnyLib2
(11,211 posts)Sneaky hypocrite among many other things.
elleng
(130,895 posts)about whether the Kentucky Republicans family had sought to profit from nonpublic information about the looming health emergency'
Imagine THAT!
JohnSJ
(92,187 posts)they would have put that money into the mRNA vaccine makers
Lessons learned: never take medical advice from rand Paul, and also follow his stock tips
Still as a member of Congress not reporting it should at a minimum garner him at the minimum a reprimand and fine if he acted on inside information
lastlib
(23,224 posts)I'm cynical that that will happen, but it's a possibility.
Memo--if Rand tells you to buy...SELL!
JohnSJ
(92,187 posts)riversedge
(70,205 posts)Sneederbunk
(14,290 posts)JohnSJ
(92,187 posts)period. In fact it was pretty flat
No surprise they wouldnt choose the vaccine makers listening to his nonsense about covid
and only proves not only is he an idiot in regard to medical advice, but also in investing
sarchasm
(1,012 posts)... Although Remdesivir is used as one in a cocktail of covid treatments, it never panned out the way investors thought it may.
Pinback
(12,154 posts)NightWatcher
(39,343 posts)And how is Paul not under a jail now or at least removed from Congress?
keithbvadu2
(36,788 posts)musette_sf
(10,200 posts)Gilead Sciences was founded in 1987, when The Handmaid's Tale was known only by longtime fans of Margaret Atwood and ardent feminists. THT and Gilead most certainly were not household words like they are now. (And may I say that I am so grateful to Lizzie Moss and Hulu that they are household words now!)
monkeyman1
(5,109 posts)Mike Nelson
(9,954 posts)... "sought to profit" - Rand Paul?
UpInArms
(51,282 posts)This makes his denial of science even more evil he personally profits from the illness
IronLionZion
(45,433 posts)These people are asinine and malicious. As I've heard some insiders tell it, the insider secret was that GOP knew they would do jack shit to slow down the impending pandemic. There was public information out there but it was drowned out by Trump and other RW media personalities bloviating about how it was nothing to worry about when they totally knew hell was coming.
JohnnyLib2
(11,211 posts)Carlitos Brigante
(26,500 posts)Cosby is some kind of sick serial rapist.......
Grins
(7,217 posts)Did she buy mask futures, too?
turbinetree
(24,695 posts)rustysgurl
(1,040 posts)Total asshole.
Dopers_Greed
(2,640 posts)Because he has a financial interest in making sure it spreads.
What an unbelievable asshole. Can we set his neighbor loose on him again?
oasis
(49,381 posts)dalton99a
(81,475 posts)Buckeye_Democrat
(14,853 posts)... as he proclaims masks and vaccines as ineffective!
Or maybe he did, and I don't recall since I typically ignore that idiot.
He's a total SCUMBAG!!
Champp
(2,114 posts)twodogsbarking
(9,740 posts)Mersky
(4,980 posts)I did, too - February 26, 2020 was the last time Granny and I casually attended the seniors luncheon that hasnt resumed since. Had to cancel all birthday plans for the end of the first week of March - theres a whole string of em in my family and its usually a joyous hassle to manage gifts and all.