Rep Lois Frankel – Insider Trading? Sold First Republic Stock, Then Bought Chase Stock.

What's good for them is illegal for you

Faye HigbeeMay 3, 2023

0 565 3 minutes read

“It’s one big club and we ain’t in it,” Comedian George Carlin once said. When you look at what Rep Lois Frankel (D-FL22) did recently, it appears to be true. She sold stock in First Republic Bank before it collapsed in March, and bought stock in JP Morgan Chase, the bank that bought it. Is that “insider trading?” And how did she know which bank would buy the failed one? Ms Frankel is on the House Appropriations Committee and as such was privy to financial information before it was made public. That’s insider trading, and yes it is illegal. But it seems that Congress has appointed themselves above the law.

Congresswoman Lois Frankel sold First Republic Bank in March before the stock dropped 80%

After she sold First Republic, she bought JP Morgan Chase which just bought First Republic. She clearly had inside information.

If me or you did this then we would be in prison. pic.twitter.com/blvDMF2ag6

— Matt Allen (@investmattallen) May 1, 2023

Democrat Lawmaker Lois Frankel Sold First Republic Stock Before It Crashed by 80% – Bought JPMorgan Stock Which Just Bought First Republic Instead https://t.co/4nOaH0y1Jp

— The Gateway Pundit (@gatewaypundit) May 2, 2023

Someone should ask Martha Stewart (who spent prison time for insider trading) how this all works and whether people go to jail over it. Never mind, nothing will happen to Rep Lois Frankel. Twitter users had many comments, of which these are only a tiny fraction:

Will this presidential election be the most important in American history?

Yes

The latter purchased all deposits & assets Without the Debt. And now JPChase handles 10% of all deposits in our country. Imagine their stock rising… its almost as if someone knew something. @GeneralJaffey

Sounds like insider trading to me but hey democrats always get away with breaking the law. #BrooklynGurl

Why aren’t these people in jail???? @lcwhite1226

FBI and CIA will definitely now… oh right, nothing to see here. @SuperSashaX

Nice. Meanwhile most of us are barely keeping our heads above water…. @SomeUSAChick

Insider trading is illegal for the vast majority of Americans. It is defined as trading stocks when the subject has information that has not yet been made public. A bill to ban insider trading in Congress was passed in 2021 but died. A bill to ban it was introduced in 2022, but, again, since both parties engage in it, it was only sent to the Senate committee where it will not likely pass.

S 3504, introduced by Senator Josh Hawley, was introduced last year. It says: “Except as provided in subsection (b), a Member of Congress, or any spouse of a Member of Congress, may not, during the term of service of the Member of Congress, hold, purchase, or sell any covered financial instrument.” Up until now, that was aimed at Nancy Pelosi and her husband, who routinely engaged in it. Rep Lois Frankel is simply the last person to be caught doing it.

*****

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