NEW YORK, NY
After being arrested on Wednesday and charged with insider trading, Chris Collins defiantly gave a speech later that evening and proclaimed his innocence. Collins said the charges would not deter him from running for re-election for his congressional seat. Saturday morning, word spread that the Republican congressman from New York had changed his tune.
Collins released a statement regarding the suspension of his re-election bid that he posted to his Twitter page.
In true 2018 Republican fashion, Collins made sure to blame the Democrats for every problem in the world and his own transgressions before going on to speak about suspending his re-election campaign, and saying that he would serve out the rest of his current term. Collins also said he looks forward to fighting the “meritless” charges and clearing his good name of any wrongdoing.
Collins said what a person in his situation is supposed to say, as he attempts to exude confidence, but make no mistake about it….CHRIS COLLINS IS IN DEEP SH*T! And he knows it too.
Collins, his son Cameron, and the father of Cameron’s fiance, Stephen Zarsky, were all charged with wire fraud, conspiracy to commit securites fraud, and multiple counts of securities fraud. USA Today (@USAToday) reports, the charges stem from Collins’ association with a biotech company named Innate Immunotherapeutics, which Collins is heavily invested in. Collins has been reported to have been using his clout to attempt to get everyone he encounters to invest in the company. But that’s not where Collins’ legal troubles come from. Collins received inside information about a failed clinical test by the company. Because of his position in the company, Collins received this type of info before the general public. A negative clinical trial of the company’s flagship drug was certain to cause the value of the stock to dip. It’s hard to predict how substantial the drop in the stock price would have been. Collins didn’t wait to find out. He took the inside info and passed it along to his son and others, so they could sell their shares before the rest of the public investors in order to avoid huge losses. This is illegal. This is the very definition of insider trading. Collins and other members of his circle managed to sell 1.78 million shares of the stock before news of the failed trials were made public. The others were mostly family of Collins’ and his son’s fiancee. The Collins crime family avoided $768,600 worth of losses from the swing-move pulled by the congressman. To make matters worse, Chris Collins has also been charged with lying to the FBI about the whole thing.
The criminal case against Collins, his son, and Zarsky has multiple “unnamed co-defendants involved. There’s a possibility those unnamed co-conspirators could be charged at a later date. The unnamed defendants are likely the family members, which leaves open the nasty consideration of family taking the stand and testifying against one another in the hopes of leniency. There is also the possibility that some top level names in the company may be vulnerable to charges too. This is probably going to get very ugly before everything is said and done.
Speaker Of The House, Paul Ryan (R), announced that he will not seek re-election after his current term and will retire from Congress this year, Ryan announced on Wednesday.
“You realize something when you take this job. It’s a big job with a lot riding on you, but you also know this is not a job that last forever. You realize you hold the office for just a small part of our history. So you better make the most of it.” Ryan told reporters on Capitol Hill Wednesday morning.
CNN (@cnn) reports, Ryan told reporters that even though he’d “reluctantly” taken the job in 2015, when he took over for former speaker John Boehner, he had no “regrets.”
Ryan’s departure is another blow to fearful GOP members anticipating a blue wave in November. More and more it’s beginning to look like Democrats will be taking control over the House and likely Senate after the 2018 mid-term elections. Donald Trump is a big part of the Republican fear. Many have put Donald Trump and current Republicans in the same boat. For that very reason, people have been coming out to vote against Republicans in massive numbers….in special elections that most Americans never even paid much attention to in the past. It’s an uphill battle for any Republican seeking re-election. Ryan mentioned wanting to spend more time with his family as one of many reasons for his departure. While this may be true, it’s no secret that going up against the blue wave that is surely coming had to play some part in Ryan’s decision not to seek re-election.
In his prepared remarks, Ryan focused on the tax law that passed last year as a key legacy he will be leaving behind and spoke at length about his desire to go home to Wisconsin to be with his family. He said that the 2018 mid-terms and the chance that he wouldn’t be speaker didn’t factor at all into his decision to announce his retirement.
Ryan is right about one thing. Him and the tax law Republicans forced through Congress is the thing he will be remembered most for. Where Ryan is wrong, is that this legacy of his will not be remembered fondly. Ryan will be remembered as a spineless and cowardly politician who conspired against the United States with a corrupt president and administration. THIS is the legacy you will be leaving behind Mr. Ryan. Enjoy your retirement and the millions of dollars you took under the table from a few billion dollar companies, in order to make lives worse for many Americans.
Stacey Dash recently announced that she would be running for Congress in California. Dash will be running as a Republican in a district that has been held by Democrats for awhile. A district that includes Compton, Long Beach, and Watts. The former actress made an appearance on The Beat with Ari Melber to give her views on a few things, including the incidents in Charlottesville last summer and healthcare, among other things.
Video courtesy: MSNBC
It’s official. The former actress most known for her role in the movie “Clueless” has officially thrown her hat into the political ring. CNN (@cnn) reports, Dash filed paperwork today to run in California’s 44th District. A district currently represented by Democrat Nannete Barragan.
The 44th District includes Compton, Watts, San Pedro and Long Beach. The 44th District has long been represented by a Democrat. Hilary Clinton easily won the Dem-heavy District over Repubican Candidate Donald Trump by a wide margin (83% – 12%) during the 2016 presidential election.
Since the “Clueless” days, Dash has mostly been seen on Fox News Network and other heavy-right leaning outlets, pushing the Trump agenda. Dash considers herself a Conservative though.