The Supreme Court upholds the TikTok Ban

Many members of Congress bought META stock as they were voting to ban TikTok, they’re getting rich while eliminating their donors competition

Congressman Michael McCaul who wrote The TikTok Ban Bill invested $1.15 Million into META after writing the bill

- On March 3rd, he authored the TikTok Ban Bill
- On March 22nd, he invested $150,000 in META
- On the 26th, he invested another $150,000
- On the 28th, he invested another $150,000

So about three weeks after writing the TikTok Ban Bill, this man invested $450,000 in TikTok's competitor.

Oh, and then what did he do once he saw his TikTok ban was gonna be included with all the Ukraine funding:

- Well, on April 1st, he invested $350,000 more in META, followed by the fifth where he invested that again.

Then about a week later, of course, he voted yes on the bill he wrote.

So within the span of 40 days, this dude wrote the TikTok ban bill, proceeded to invest $450,000 in the competitor, and then invested another $700,000, taking his total investment and META at a $1.15 million.

And then he voted yes. Now, obviously the word most people are using here is suspicious, but the word we should be using is criminal.

This man wrote the f***** bill to ban TikTok, proceeded to invest more than a million dollars in its competitor, whose stock will skyrocket if TikTok actually gets banned, and then voted on the bill to ban it.

Are you paying attention yet?” #tiktokban
It’s all about censorship.

You know it’s bad when there’s an investment app that auto trades based off of whatever politician you choose.

ZRX1200 wrote:

Holly Cow!

https://www.joinautopilot.com 

Gene363 wrote:

Autopilot Plus charges a fee of $29 a quarter or $100 a year to trade multiple portfolios and automatically buy and sell stock positions when disclosures are made.

This post is misleading for several reasons. Texas Republican Representative Michael McCaul, chair of the House Foreign Affairs Committee, did not write the TikTok "Ban Bill" as it is understood here.

In 2023, McCaul authored a bill called the Deterring America's Technological Adversaries Act or DATA Act. As reported by The Texas Tribune, it called for ian nvestigation to determine if TikTok or ByteDance transferred sensitive information from the U.S. to the Chinese government, and a ban of the app if it did so.

It is not the same as the Protecting Americans From Foreign Adversary Controlled Applications Act, which President Joe Biden passed in April 2024

The DATA Act is not expected to be considered by Congress because of the Foreign Adversary Act's successful passage.

McCaul introduced a package of bills, which included the Foreign Adversary Act in April 2024. Called the 21st Century Peace Through Strength Act, the package also included a series of sanctions against Iran, Hamas, and Russia.

While McCaul recorded trades in Meta around this time, the value of the trades quoted in the post on are not substantiated. They are based on stock purchases and sales submitted by McCaul via a Periodic Transaction Report (PTR), but he is not required to provide the exact value of the trade, just how much it is worth among a range of values.

Furthermore, these purchases were not made directly by him. Elliot Berke, attorney for McCaul, told Newsweek: "Congressman McCaul did not purchase these stocks and had no advanced knowledge of the purchase.

"He only learned about it due to the PTR disclosure process. Rather, his wife has assets she solely owns, and a third-party manager made the purchase without her direction."

McCaul's PTRs show that all of the purchases were made by his family through LLM Family Investments LP.

Records of purchases and sales made by McCaul in 2023 when he had introduced the DATA Act show multiple sales of Meta stock, not purchases.

A spokesman for McCaul told Newsweek: "Chairman McCaul has publicly expressed his concerns about the national security threat TikTok poses for years. He introduced his own bill to ban TikTok early last year—more than a year before these stock purchases were made. They have no bearing on the congressman's policy priorities."

The Ruling:

False.

A firm run by McCaul's family purchased shares in Meta around April and March 2024. The purchase was not managed by McCaul as records show, nor is the total amount sold and purchased disclosed.

McCaul did not write the TikTok Ban Bill either. He introduced a package of bills which included that act, but was not its author. He did author a bill in 2023, calling for investigation and a potential ban of the app. Records show the same trust that purchased Meta stock in 2024 also sold shares in the company in 2023, as McCaul introduced his TikTok bill.

META hasn't exactly skyrocketed in the past month but I guess we'll see on Tuesday when the market reopens. This congressional insider trading is bull**** though and shouldn't be allowed, same with banker insider trading.

META Price performance as of 1/19/2025:

5-day -0.50%
10-day 2.26%
1-month -1.84%
3-month 6.24%
6-month 25.11%
YTD 4.66%
1-year 66.76%
2-year 347.34%
5-year 176.31%
10-year 715.07%

PapaWhiskey wrote:

Even if he failed, there is still a serious attempted securities/ethical fraud attempt. Penalty should be the same.

rfenst wrote: