Insider Trading?

It blows.

This is really alarming:

“Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports.

“In a little-noticed SEC filing submitted on February 22, 2018, Icahn disclosed that he systematically sold off nearly 1 million shares of Manitowoc Company Inc. Manitowoc is a “is a leading global manufacturer of cranes and lifting solutions” and, therefore, heavily dependent on steel to make its products.”

After Comrade Stupid belched out his intention to impose tariffs on steel and aluminium, Manitowoc shares dropped $6 and Icahn saved himself $6M Ameros.

“Trump’s announcement rattled the markets, with steel-dependent stocks hardest hit. Manitowoc stock plunged, losing about 6 percent of its value. Reuters attributed the drop to the fact that Manitowoc is a “major consumer of steel.” As of 10:20 a.m. Friday, the stock had lost an additional 6 percent, trading at $26.21.”

You might recall that Icahn turned down a position in the cabinet because he didn’t want to sell off his bidness empire. He’s not exactly a selfless player. But could this all be a coinky-dink?

“Before February, Icahn was not actively trading Manitowoc stock. According to regulatory filings, he did not buy or sell any shares of Manitowoc between January 17, 2015 and February 11, 2018. The February 22 filing was required because his ownership stake dropped below 5 percent. Now that he owns less than 5 percent of the company, he is not required to make another disclosure about his holdings until May. So while the latest filing shows him still retaining some stock in Manitowoc, Icahn could have continued selling the stock. If Manitowoc is not listed on the eventual May filing — called a Schedule 13F — that would mean he has liquidated all his holdings.”

So we are left with possible doubt that this was just some sort of brilliant luck on Icahn’s part, or that he had the ultimate of insider knowledge. What we don’t know is if Comrade Stupid was a hapless dupe or if he was handing his pal a $6M Amero thank-you note.

I have no idea if someone committed a crime, but damn if this doesn’t smell like Insider Trading.

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11 Responses to Insider Trading?

  1. Insider Trading?? More like Insider Partay-ing amirite??!

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  2. roket says:

    And yet they will still blame Obama for the drop in the stock market. Bastages.

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  3. osirisopto says:

    Reminds me of the Lockheed Martin debacle.

    Crime? What crime? That baby’s candy jumped into my mouth of it’s own accord, officer.
    Honest.

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  4. Buttemilk Sky says:

    On the list of Trump’s crimes, insider trading is on page ten, between “cheats at golf” and “Trump Steaks.”

    Liked by 1 person

  5. ming says:

    We are definitely in the grab all the cash you can phase of the administration. There’s a looters club and we aren’t in it. I look forward to eating the rich.

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    • Sirius Lunacy says:

      “I look forward to eating the rich”
      Don’t order the chikneshit’s fingers, there’s not much to ’em.

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  6. Feline Mama says:

    Well dip me in the old out house ‘terlet’ & call me Stinky!! I’m SHOCKED at this newz!!

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  7. Bruce388 says:

    Given Donnie Two-Scoops’ stellar record of marital faith, financial probity, transparency, and all around good nature, I find this theory of financial chicanery hard to believe. (No I don’t)

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    • Feline Mama says:

      And, the very funny thing right now, he’s already gearing up for 2020. Asking for $$ & positioning campaign people.

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      • Bruce388 says:

        I’ve been counting on the Big Macs to rule out 2020. The worst news I saw this week is the bastid is eating healthier. So now I’m down to Mueller.

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