Insider trading as a politician is ok?

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Watching a session of Canadian Parliament yesterday, the opposition Conservative party asked for a simple ‘yes’ or ‘no’ answer to a question to Trudeau’s Finance Minister Bill Morneau on whether he sold $10m in shares in Morneau-Shepell a week before a new capital gains tax on securities was introduced in parliament. The accusation was that Morneau made $500,000 by insider trading in full knowledge of the tax change that was to be introduced. Morneau spent the entire 20 minutes talking of how his party is defending the middle class with tax cuts. If he was not the person that sold, how easy to openly admit so. So far he’s said nothing.

Insider trading is a punishable offense in the private sector. Yet are politicIans free to make half a million by trading ahead of the event? How can Morneau not resign? Even worse was  Speaker of the House Greg Regan was asking why the question from Paul Pollievre was relevant in question time? Are you kidding me?

Clearly ethics training for Trudeau’s cabinet seems far more pertinent than reintegration of returning ISIS tourists. Then again we shouldn’t forget that Trudeau was actually involved in the appointment of the Ethics Commissioner (without consulting the opposition) indeed at a time when his own ethics had been openly called into question.

4 comments

      1. Yep. Unfortunately, here in the United States, politicians and people with power get away with many things. It’s bogus! A lot of politicians, I think anyways, are not out to help better the country, rather to better themselves only.

        Liked by 1 person

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