2020 May 22, 5:37pm
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In the 1990s as a U.S. senator, Feinstein advocated for increasing trade with China, while de-linking its most-favored-nation (MFN) trading status from concerns over rampant human rights violations, and making it permanent. Notably, in the 1993-1994 period, while Feinstein was advocating for increasing trade and participating in extensive meetings with Chinese leaders in Beijing at then-President Jiang’s invitation with her husband in tow, Blum was seeking to raise up to $150 million for an Asia-focused fund for his firm, Newbridge Capital.He raised $160 million, and invested in several Chinese state-owned and government-linked businesses.
Why is this not considered insider trading? If his wife had privileged chyna info, and he made bets on chyna, just that alone stinks pretty bad. I bet it gets more specific too, if you look.Has anyone ever heard of any proposals to try to get money out of high govt office? Like - "you and your spouse cannot own stock during your term, as well as for X years afterwards". And, just increase their salary to make the job still appealing to people who wont cheat.I know there's more holes to plug than just stock ownership, but you get the idea.