Target: Mark Uyeda, Acting Chairman of U.S. Securities and Exchange Commission (SEC)
Goal: Address allegations of market manipulation and insider trading at the executive level.
The president’s tariff wars have taken U.S. and global stock markets on a chaotic and tumultuous ride. Announced retaliatory tariffs on multiple countries sent stocks plunging by around 2,200, or six percent (a market crash occurs when losses exceed 10 percent). Within 24 hours, stock values had sharply risen after the tariffs were paused. They plummeted again when escalating tariffs were kept in place on China, a major exporter of consumer goods. Despite the historic losses for average Americans who saw their retirement plans battered, certain individuals may have walked away with a significant payday. For example, some options traders – who bet on market trends – had their fortunes multiply times ten. Businesses affiliated with the president and his advisers also saw marked gains. The suspect timing of these gains has led to accusations against the administration of market manipulation and insider trading.
Right around the time these fortunes were made, the president made a post to his social media account proclaiming in all caps, “THIS IS A GREAT TIME TO BUY!!!” A short time later, he announced a 90-day pause on many of his tariffs, which sent markets rising again. Aside from the public disclosure, lawmakers are now also questioning who may have been privy to the president’s plans in advance, and who may have bought up stock at a drastically discounted price as a result.
Sign the petition below to demand the agency responsible for investigating widescale financial manipulation conduct a thorough and transparent investigation.
PETITION LETTER:
Dear Mr. Uyeda,
“We can’t have senior public officials — including the president — talking about stock prices and where to buy or to sell at the same time as they are making and announcing decisions that have a dramatic impact on stock prices.” An ethics lawyer who served for former President George W. Bush made this statement in regard to suspicious financial gains made by wealthy investors following President Trump’s tariff reversals. This expert has a point, and he is not alone in his concerns.
Your mission is to enforce laws against market manipulation and to protect the interests of everyday Americans from the whims of the powerful. Please honor the mission, affirm this agency’s independence, and launch a fair and full investigation of the suspected activities that will demonstrate to Americans no one is above the law.
Sincerely,
[Your Name Here]
Photo Credit: Pixabay
I’m not so sure that trying to enforce this “no one is above the law” statement will work. This administration apparently has NO NEED for the law. They have already cut back on free speech and the rights to reviews and trials for the people getting kidnapped and removed from the Country. No one is safe, when each governmental branch sees fit to trample the Constitution! This “no one is above the law” statement needs to be implemented soon or we are all in danger.
No one should be above the law and the orange dreck has gotten away with so much and continues to do so. Unless serious limitations and punishments are given he will go on and on. I think his tariff ups and downs are a power play.