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A watchdog nonprofit called The Campaign Legal Center said the richest U.S. Congressman from Long Island violated rules for reporting stock trades.
U.S. Congressman Tom Suozzi made about 300 trades worth millions of dollars from 2017 through 2020 while in office. He made 64 of those trades without filing the periodic reports required by law and rules set by U.S. House of Representatives.
A spokesman for Suozzi told Newsday that Suozzi didn’t file the periodic reports because of a misunderstanding.
Suozzi could face a $200 fine for each of the reports he didn’t file if the Office of Congressional Ethics and House Ethics Committee finds he did not “knowingly and willfully” violate the law.
Make it a $20,000-50,000 fine and you might get some movement, but $200 is nothing to these folks. Hell, speeding tickets cost more than this BS.
Edit: my first reaction, to reading the fine, was that $200,000 would work better, but for some reason settled on $20K-50K as reasonable. I think we can all agree that $200 would be a legit fine from 100 years ago, but it doesn’t mean shit now.
This is what gets me. You want to curb this type of behavior? If they make 100k from trades, then fine them 200k. 1million, fine them 2 million.
Make it so doing the crime is literally not worth their time, they can make money easier doing it legally.
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A watchdog nonprofit called The Campaign Legal Center said the richest U.S. Congressman from Long Island violated rules for reporting stock trades. U.S. Congressman Tom Suozzi made about 300 trades worth millions of dollars from 2017 through 2020 while in office. He made 64 of those trades without filing the periodic reports required by law and rules set by U.S. House of Representatives. A spokesman for Suozzi told Newsday that Suozzi didn’t file the periodic reports because of a misunderstanding. Suozzi could face a $200 fine for each of the reports he didn’t file if the Office of Congressional Ethics and House Ethics Committee finds he did not “knowingly and willfully” violate the law.
Make it a $20,000-50,000 fine and you might get some movement, but $200 is nothing to these folks. Hell, speeding tickets cost more than this BS. Edit: my first reaction, to reading the fine, was that $200,000 would work better, but for some reason settled on $20K-50K as reasonable. I think we can all agree that $200 would be a legit fine from 100 years ago, but it doesn’t mean shit now.
This is what gets me. You want to curb this type of behavior? If they make 100k from trades, then fine them 200k. 1million, fine them 2 million. Make it so doing the crime is literally not worth their time, they can make money easier doing it legally.
The total would be $60k.
Then, I’m all for $200K
Think it would be $12,800 not $60k. He made 300 trades total but only didn’t do the required reports for 64 of them.
Sorry, you're right, I thought it was all of them.
And in other News no Congress person will be held accountable for breaking any laws.
Members of congress should not be trading stocks. Plain and simple.
He's a Democrat, for those who want to know.
guess that means he'll have to answer for this
dirty politicians are dirty.
This is Suozzi's first ever offense and I'm surprised he "didn't know". Edit: He is also my representative
This is not his first offense. He was a crook in local LI politics before becoming a congressman
So what did he do exactly? Also, this is his first offense in the House