U.S. Rep. Chris Collins, (R. NY) was informed a government test had failed and the proposed product was not going to make it to market. Chris called his son and alerted him to the difficulty suggesting he sell his 16,500 shares of the company. Of course...his son did as instructed and avoided a $560,000 loss. Because Collins was on the board of directors of that subject-company...his ALERT was considered "insider trading"...a violation of the Securities and Exchange Act.
At his BAIL HEARING...off-camera...his defense team mentioned the HILLARY TOUCH...a reference to the $100,000 Hillary made when she invested $1000 in cattle futures. Her data came from public sources making any "insider" help perfectly legal. Similarly...Collin's son had already heard about the BAD TEST aspect...knew it would affect his stock holdings...and...had already contacted BOMBASTIC BUSHKIN...his stock dude...and...had already directed BUSHKIN to sell and sell quickly.
Unfortunately...COLLINS will have to defend himself. He'll spend big bucks making this simple argument and telling the jury that his efforts were not any different than what HILLARY-THE-HAG did when she dabbled in cattle futures so long ago. His son received data from another source...a source that was independent of CHRIS COLLINS...and...his ALERT to his son was not anything other than polishing the polish.