Kentucky Sen. Paul failed to disclose wife's stock trade

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[–]Drewski 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (7 children)

In a statement, a Paul spokeswoman Kelsey Cooper said Kelley Paul used her own earnings to make the investment, which she lost money on. She said the failure by the senator, who is an eye surgeon, to disclose the trade was an oversight.

“Last year Dr. Paul completed the reporting form for an investment made by his wife using her own earnings, an investment which she has lost money on,” Cooper said. “In the process of preparing to file his annual financial disclosure for last year, he learned that the form was not transmitted and promptly alerted the filing office and requested their guidance. In accordance with that guidance he filed both reports yesterday.”

Yet the $1,001 to $15,000 invested by his wife is also miniscule compared to some other lawmakers, who have bought or sold hundreds of thousands — if not millions — of dollars worth of stock during the pandemic. (Congressional financial disclosures give dollar ranges for the value of assets, not specific dollar figures.)

Nothingburger

[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (5 children)

Thanks - though it would seem an explanation is required:

1) Gilead stock traded for about $75 a share on the day Kelley Paul made her purchase. It rose to about $84 a share in April 2020, before dropping. Shares now trade at about $70 apiece.

2) She bought stock in the anti-viral drug remdesivir at the start of the pandemic, while her husband pushed disinformation that the virus was a hoax, masks were not necessary &c

3) Insider traders knew very well what would happen with COVID19, and thus invested in Big Pharma, as she had done

4) At the start of the pandemic, a primary drug considered to the treatment of COVID19 was remdesivir

5) What could a politician do to protect his investment in this drug? Perhaps prolong the pandemic by making people believe that they don't have to wear masks? Get people to reject the vaccine?

6) Saiditors should see that R. Paul and others are not working for the 99%, and that instead they are much more interested in protecting their investments and getting money from corporations, and then hiding that money off-shore. This is how politicians get rich on the 99%.

7) The secret - for 16 months - investment in remdesivir had to remain a secret or ot would have exposed R. Paul's approaches to protect his investments at the expense of the 99%, while telling them not to wear masks or trust the vaccine (so that some of them suffer from COVID19, continue not to take the vaccine, and thus need remdesivir). (Eg. only 37% of people in Louisiana are vaccinated - so one might wander what those politicians invest in. I am not sure how many in Kentucky are vaccinated. "Christian" churches are helping spread the disinformation.

8) This hidden remdesivir investment is merely a drop in the ocean of other major investments making politicians and the 1% rich, at the expense of the 99%.

9) Insider investing was previously not allowed for congresspeople.

10) R. Paul and other congress people - especially those Republicans who say that the virus is fake, vaccines don't work, and masks don't help - are fucking over the 99%, while Saiditors sing their praises. Why is this? (footnote: it's also a question for /u/d3rr &c)

[–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (1 child)

This argument that Paul acted any differently in his professional capacity based on his wife investing $15k in Gilead is far fetched and nowhere close to compelling. However, I agree that this was a bad move by Paul. I expect better from him and reading this story was disappointing. I'm not sure if the trade itself was unethical though.

Paul is barely a republican, and he's one of the few who even care to discuss liberty and our constitution. That makes him the opposite of the 1%.

If you want to try to take him down a notch, maybe you can expose some shady coal dealings or something. Or expose both of the Pauls for being freemasons.

[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

Thanks for replying. I get Paul's emails/weekly newsletters, and I try to understand his approaches, and I like that he sometimes tries to limit government overreach (which is unusual for politicians), but I've also watched him for a long time promote the McConnell and Republican party strategies (filibustering is one of the strategies), one of which is his promotion that masks are not effective. It's difficult for me to trust him when he supports McConnell and co.

To your other points: yes - his criticism of US military engagements overseas is very much appreciated. No - I did not know that he is pro-vax, especially while he is anti-mask. Thanks for letting me know.

[–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

R. Paul and other congress people - especially those Republicans who say that the virus is fake, vaccines don't work, and masks don't help

You shouldn't be conflating these 3 wildly different statements. Rand is pro-vax or vax-positive if you didn't figure that out yet.

[–]bjam27 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (0 children)

Retarded.

$14,000 worth when it was all publicly known for weeks and lost money on the investment.

MEABWHILE PELOSI IS BUYING MILLIONS IN WEEKLY OPTIONS ON TECH CO'S THE DAY BEFORE GOVT CONTRACTS ARE RELEASED. PROFITING $5.3 MILLION IN A FUCKING WEEK.

[–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

This is why Rand is my favorite politician since his dad https://www.youtube.com/watch?v=7IFxkt9rctg

[–]bjam27 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

Retarded.

$14,000 worth when it was all publicly known for weeks and lost money on the investment.

MEABWHILE PELOSI IS BUYING MILLIONS IN WEEKLY OPTIONS ON TECH CO'S THE DAY BEFORE GOVT CONTRACTS ARE RELEASED. PROFITING $5.3 MILLION IN A FUCKING WEEK.