All posts tagged: Schiff

Warner, Schiff probe potential insider trading in government

Warner, Schiff probe potential insider trading in government

Published by Sam Flores

Senator Mark Warner (D-VA) and Sen. Adam Schiff (D-Calif.). Nathan Posner | Anadolu | Tom Williams | CQ-Roll Call, Inc | Getty Images Sens. Mark Warner, D-Va., and Adam Schiff, D-Calif., demanded answers on potential insider trading in government in a letter sent Thursday to the head of the Securities and Exchange Commission and the Department of Defense inspector general. The senators cited public reporting of “large positions in equities and equity-linked derivatives” being built up before major policy announcements, such as decisions related to the Iran war and President Donald Trump’s tariffs agenda. And they suggested those instances indicate “federal officials are disclosing material nonpublic information for financial gain.” “Recent reports of equity trading that occurred shortly before significant government policy announcements suggest that federal officials are disclosing material nonpublic information for financial gain,” the lawmakers wrote in the letter to SEC Chair Paul Atkins and Pentagon IG Platte Moring. “These actions undermine public interest and market integrity, and demand oversight by each of your respective authorities, as well as by Congress.” The letter …

Kalshi, Polymarket insider trading rules not enough: Sens. Schiff, Curtis

Kalshi, Polymarket insider trading rules not enough: Sens. Schiff, Curtis

Published by Sam Flores

A pair of bipartisan senators on Wednesday said they won’t drop their push to ban sports prediction market contracts, despite Kalshi and Polymarket announcing new insider trading restrictions on their platforms. “It’s got to be more than an aspirational statement by these companies,” Sen. Adam Schiff, D-Calif., told CNBC’s “Squawk Box” when asked about those platforms’ self-imposed new rules. Kalshi on Monday said it would preemptively block politicians, athletes and “other relevant people” from betting on their own campaigns or sporting events. The same day, Polymarket announced it would impose its own guardrails to address insider trading and market manipulation. The new restrictions came as Schiff and Sen. John Curtis, R-Utah, introduced legislation that would give states, rather than federal regulators, control over sports betting and casino-style games. The bill would prohibit Commodity Futures Trading Commission-registered entities from listing any such prediction contract. In a joint CNBC interview Wednesday morning, the senators said the companies’ efforts to police themselves are insufficient. “I don’t think it’s enough,” Schiff said. “It’s one thing to say, ‘This is our policy.’ It’s …

Schiff: This War Is “Going To Cost A Lot Of Money We Don’t Have”

Schiff: This War Is “Going To Cost A Lot Of Money We Don’t Have”

Published by Jenni Sidey

Last night, ZeroHedge hosted investor Peter Schiff and Rabobank’s Michael Every to debate the question: Will the war in Iran accelerate the U.S. dollar’s collapse or is it a geopolitical chess move that could strengthen its hegemony? Moderated by Cornell professor Dave Collum, Schiff – based in Austrian economics – argued that the war will do nothing but harm the American economy via higher prices and interest rates, while the dollar weakens. Every believes Trump can pull a rabbit out of a hat and come out of this with the U.S. and the dollar in a stronger position. Though, he notes that some measure of economic pain is likely a necessity of war. Below were the highlights for those short on time but we recommend listening to the full debate, linked at the bottom. War: An Economic Nightmare Schiff: “The war itself is inherently going to end up being inflationary… it’s going to cost a lot of money that we don’t have.” With no plan to raise taxes, the path is clear. “We’re just going …

Schiff endorses Swalwell for California governor

Schiff endorses Swalwell for California governor

Published by Sam Flores

Sen. Adam Schiff (D-Calif.) has endorsed Rep. Eric Swalwell (D-Dublin) for California governor, the Swalwell campaign and a Schiff spokesperson said Monday. Schiff, one of the state’s most prominent Democrats, previously served with Swalwell on the House Intelligence Committee, where they riled Republicans by investigating President Trump during his first term. They also both worked to impeach Trump during his first term, with Schiff serving as the lead manager of Trump’s first impeachment and Swalwell as a manager of Trump’s second impeachment. Schiff, in a statement, said Swalwell “has the vision and strength to take on our state’s biggest challenges and make real progress, from lowering costs for families to protecting our democracy from Donald Trump.” “Congressman Swalwell and I worked together to investigate Trump during his first presidency, and Eric played a leadership role in the impeachment trial after the President incited a violent mob to attack the capitol on January 6th,” Schiff said. “What I saw then, and what I know now, is that Eric is fully prepared to get things done and …