Source: The Washington Post
Sen. Rand Paul revealed Wednesday that his wife bought stock in Gilead Sciences — which makes an antiviral drug used to treat covid-19 — on Feb. 26, 2020, before the threat from the coronavirus was fully understood by the public and before it was classified as a pandemic by the World Health Organization.
The disclosure, in a filing with the Senate, came 16 months after the 45-day reporting deadline set forth in the Stock Act, which is designed to combat insider trading.
Experts in corporate and securities law said the investment, and especially the delayed reporting of it, undermined trust in government and raised questions about whether the Kentucky Republican’s family had sought to profit from nonpublic information about the looming health emergency and plans by the U.S. government to combat it. Several senators sold large amounts of stocks in January or February of last year, prompting a handful of insider-trading probes. Most of those investigations concluded in the spring of 2020, according to notifications from the Justice Department to lawmakers under scrutiny.
I guess if you’re a wacky enough senator the laws don’t apply to you.