US ex-congressman jailed 2 years for insider trading

NEW YORK, United States - Former US lawmaker Chris Collins, President Donald Trump's first supporter in Congress, was sentenced Friday to more than two years in jail for his role in an insider trading scheme.

The New York Republican was arrested and indicted in 2018 for insider trading of stock in an Australian biotech firm, including sending illicit tips from the White House lawn during a congressional picnic.

The judge in the Southern District of New York's US District Court rejected pleas for probation and sentenced Collins, 69, to 26 months on counts of insider trading and lying to investigators, sentences that are to run concurrently, an officer of the court said.

He was also fined $200,000.

Collins won re-election in November 2018 despite the indictment hanging over him.

Last September he announced he was resigning from the House of Representatives, and the following month changed his plea to guilty.

source: news.abs-cbn.com

Republican lawmaker says Trump engaged in impeachable conduct

WASHINGTON- US Representative Justin Amash, a frequent critic of President Donald Trump, on Saturday became the first Republican lawmaker to say the president has engaged in impeachable behavior.

Special Counsel Robert Mueller's report on the investigation into Russian interference in the 2016 election reveals that Trump "engaged in specific actions and a pattern of behavior that meet the threshold for impeachment," Amash, who has signaled he would consider running as a libertarian against Trump in the 2020 election, wrote on Twitter.

Mueller's report "identifies multiple examples of conduct satisfying all the elements of obstruction of justice, and undoubtedly any person who is not the president of the United States would be indicted based on such evidence," Amash wrote.

Trump has said Mueller's report concluded there no obstruction of justice. Mueller's report made no formal finding on that question, leaving the matter up to Congress.

Amash also wrote that "it is clear" that Attorney General William Barr intended to mislead the public about Mueller's report in his conclusions and congressional testimony about it.

In his letter to Congress, Barr said he and his deputy Rod Rosenstein determined there was insufficient evidence to establish that the president committed criminal obstruction of justice, or acted unlawfully to impede the investigation.

Amash's comments echoed the conclusions of many Democrats. House Speaker Nancy Pelosi said on May 8 that Trump was moving closer to impeachment with his efforts to thwart congressional subpoenas and obstruct lawmakers' efforts to oversee his administration.

Still, Democrats are divided about impeachment and Pelosi also said impeachment proceedings would be "divisive" for the country.

The White House and the Department of Justice did not immediately respond to requests for comments about Amash's tweets.

Ronna McDaniel, the chairwoman of the Republican National Committee wrote on Twitter "it's sad to see ... Amash parroting the Democrats' talking points on Russia." She said the only people still concerned about the Russia investigation are Trump's political foes "hoping to defeat him in 2020 by any desperate means possible."

Amash, who represents Michigan's 3rd congressional district, wrote that he had read Mueller's full redacted report, but that few members of Congress had.

In February Amash became the lone Republican to co-sponsor a resolution in the US House of Representatives to reject the emergency Trump declared at the US-Mexico border to build a wall there, in a stinging rebuke to the president.

Impeachment should be undertaken only in extraordinary circumstances, Amash wrote on Saturday. But the risk during a time of extreme partisanship "is not that Congress will employ it as a remedy too often but rather that Congress will employ it so rarely that it cannot deter misconduct." 

source: news.abs-cbn.com

US lawmaker apologizes for sexually explicit photo

CHICAGO - A US lawmaker from Texas apologized Wednesday for an explicit photo released on the internet, saying he had erred in judgment when pursuing consensual sexual relationships with women.

The photo shows Congressman Joe Barton nude, with his genitals obstructed from view, in a sexually suggestive pose. It appeared on Twitter earlier this week and has since circulated on social media.

The Republican lawmaker set his behavior apart from the recent revelations of sexual harassment and assault that have plagued powerful and high-profile men.

"While separated from my second wife, prior to the divorce, I had sexual relationships with other mature adult women," the twice-divorced 68-year-old said.

"Each was consensual. Those relationships have ended. I am sorry I did not use better judgment during those days. I am sorry that I let my constituents down."

Barton sent mixed messages about his political future.

In an interview with The Texas Tribune, he said he was still deliberating how to respond, but a spokeswoman told The Dallas Morning News that Barton had no plans to resign.

A similarly suggestive photo of former congressman Anthony Weiner that appeared on his Twitter account in 2011 was the beginning of his downfall.

Weiner was sentenced to 21 months in federal prison in September for sexting with a minor.

nov/ia

source: news.abs-cbn.com

Trump within reach of shock White House win

NEW YORK - Billionaire populist Donald Trump was poised for a possible shock victory over Hillary Clinton in Tuesday's historic US presidential election, as a string of swing state victories for the Republican jolted world markets and stunned her supporters.

As polls closed and media called state races one-by-one, giving the key battleground states of Ohio, Florida and North Carolina to the Republican maverick, pollsters scrambled to update their forecasts and point to an improbable upset.

Clinton -- the 69-year-old Democratic former first lady, senator and secretary of state -- began the day as the narrow favorite to win the White House and become America's first female president.

But Trump's string of successes reflected how deeply divided the American electorate has become, and showcased his ability to tap into white blue-collar voters' resentment of cultural change linked to immigration and the loss of manufacturing jobs at home.

World markets plunged as US observers awaited results from the Rust Belt state of Pennsylvania, the northeastern state of New Hampshire, and the northern states of Michigan and Wisconsin -- all now vital to Clinton's hopes.

Mexico's peso plummeted over fears that Trump will make good on his vow to wall off America's neighbor to the south.

Safe haven assets rallied, with the yen and gold rushing higher, and Wall Street futures fell 3.7 percent in after-hours trade. Asian markets were in turmoil, with Indian stocks dropping six percent.

Clinton supporters who had gathered at a glittering reception in New York expecting to hear a victory speech from Clinton fell quiet and jabbed nervously at their phones.

Major donors had tears in their eyes as they stared stupefied at the screens, and an audible gasp filled the room when North Carolina went into Trump's win column.

"Not great," muttered railroad retiree Joan Divenuti, who came all the way from Massachusetts to cheer her heroine. "Florida was always a problem," she added.

Across town at the Trump election party, the 70-year-old property tycoon's supporters -- a more well-heeled crowd than the blue-collar Midwesterners he is counting on for victory -- cheered and pumped their fists at each advance.

"I think we're going to win," said 22-year-old Brendon Pena, who works for a company that leases office space in the soaring Trump Tower.

"I was always positive. I think Donald Trump is a really smart guy. He knows what we're going to do and we're going to win the election."

At 11:30 pm (0430 GMT), Trump was projected to win 24 states worth 229 electoral college votes, within striking distance of the 270 he needs.

Clinton stood at a projected 209 electoral votes.

- 'Whatever happens, thank you' -

This team has so much to be proud of. Whatever happens tonight, thank you for everything. pic.twitter.com/x13iWOzILL

— Hillary Clinton (@HillaryClinton) November 9, 2016

On the legislative side, the Republicans were on course to retain their majority in the US House of Representatives, according to network projections -- a situation that has been a thorn in the side of incumbent President Barack Obama.

Clinton tweeted: "This team has so much to be proud of. Whatever happens tonight, thank you for everything."

She and her husband, former president Bill Clinton, huddled in a hotel near the venue to prepare a victory -- or concession -- speech.

Earlier, the Clintons voted near their home in Chappaqua, before emerging to shake hands and chat with the crowd.

An exit poll by CNN found that only four in 10 voters were optimistic that Obama's successor would do any better than he has during his two terms in office.

Trump, 70, cast his ballot alongside his wife Melania in a Manhattan school gymnasium.

"Right now it's looking very good," he told reporters -- paying no heed to protesters who welcomed him with chants of "New York hates you!"

- Tough contest -

The 2016 race was the most bruising in modern memory.

Obama's election eight years ago as the nation's first black president had raised hopes of uniting Americans, but the current contest has only highlighted the country's divisions -- and the fact that voters are not necessarily happy with their options.

Exit polls by ABC News and NBC News found that both Clinton and Trump are seen as untrustworthy by majorities of voters, while most find Trump's temperament unpresidential.

But his supporters flocked to the polls.

"It's unbelievable. I didn't know Trump was really going to pull it off," said Glenn Ruti, a New Yorker who works in telecommunications.

"I think he's going to go all the way. The country wants change."

source: www.abs-cbnnews.com

Wall Street voting for Clinton, Republican Congress

After an unpredictable and bitter campaign season, Wall Street is eyeing its preferred 2016 election outcome: a Hillary Clinton presidency offset by a Republican-controlled Congress.

Evidence of the market's clear inclination for a Clinton victory has been seen at key junctures in the race, such as when stock futures surged in the moments after the first presidential debate, which was widely seen as a win for the former secretary of state.

"The S&P 500 futures exploded higher," recalled Gregori Volokhine, president of Meeschaert Capital Markets. "It was obvious which candidate the market prefers."

That preference also was on display in response to news about Clinton's email investigation, including Sunday, when stock futures spiked higher after the FBI cleared the Democratic candidate in the latest review of emails linked to her private server.

Analysts view Clinton as a known quantity who is likely to maintain many of the policies of President Barack Obama. In contrast, Republican Donald Trump is viewed as a wildcard with no public service record and a penchant for lambasting everything from free trade deals to the Federal Reserve to people who contradict him.

A surprise win by Trump, who has consistently trailed in the polls, could spur a sharp negative reaction Wednesday, although markets could steady after that.

"The big move would be caused just by the unknown of what he might do and the perception that he's volatile," said Michael Scanlon, managing director of Manulife Asset Management.

"Then the reason I temper that and say it would be short-lived is that we still have a government with checks and balances. It's not like he's being elected king or anything like that."

- Market likes gridlock -

While the market has shown it favors Clinton in the White House, that does not extend to Democrats in Congress.

When Clinton appeared to pull away significantly from Trump in polls last month, some analysts expressed worry that a Democratic congressional sweep could lead to efforts to tax business more heavily, or take other steps viewed as anti-growth.

The market is accustomed to having a Democratic president offset by a Republican Congress and views a change to that equilibrium as a potential threat.

On Monday, "the market rallied on the assumption that the GOP should manage to retain control of one house, if not both houses, of Congress, thereby ensuring an environment of continued political gridlock," said Briefing.com analyst Patrick O'Hare.

"It's a view we suspect that doesn't register quite as neatly on Main Street, where millions and millions of votes will be cast today on the basis of wanting to see some meaningful changes."

As far as election evening trading, several leading banks, including JPMorgan Chase, Citigroup and Credit Suisse, plan to provide US staff overnight in expectation that volume will be elevated.

"JPMorgan will have some traders staffed on the New York trading desks during the night hours, ready to support our Asia trading teams manage any potential spikes in volume," a spokesman said. "That is similar to what we did for the Brexit vote."

Although US stock markets will be closed when the election results begin to come in, there are many other available avenues to trade, including the foreign exchange market and the S&P 500 futures market.

Trading volume likely will rise in spurts as key results are announced, such as critical swing states in the presidential contest, including Florida, North Carolina and Ohio.

"Looking at the last election, it seems fair to say that the result comes around midnight," said Erik Nelson, a foreign exchange analyst at Wells Fargo. "I would say around midnight we would get the most volatility as we get a little more sense of what is going on."

JJ Kinahan, chief market strategist of TD Ameritrade, will be monitoring multiple television screens and tracking political blogs.

"I'll be doing what every other loser trader does, sitting in front of my screen and trying to trade futures," he said. "There is going to be opportunity."

source: www.abs-cbnnews.com

Romney’s campaign misspells “America” in new app

WASHINGTON — Republican Mitt Romney says he is running for president in search of a better America.

This week, Romney’s campaign could have used a better speller.

The campaign released an iPhone app late Tuesday that features slogans supporting his campaign against Democratic President Barack Obama ahead of elections on November 6.

“We’re With Mitt,” read one. “American Greatness,” declared another.

“A Better Amercia,” proclaimed a third, a misspelling that almost instantly became the subject of jokes on social media.

The unfortunate typographical error – made on behalf of a candidate who has been known to sing “America the Beautiful” on the campaign trail – came on a day in which Romney was joined at a Las Vegas fundraiser by Donald Trump. The real estate and media mogul had spent much of the day casting doubt on Obama’s eligibility to be president, questioning whether he had been born in the United States, even after certified copies of his Hawaiian birth certificate were released last year.

“Mistakes happen,” Romney campaign spokeswoman Andrea Saul told MSNBC about the spelling slip.

A corrected version of the app was released by Apple on Wednesday.

source: interaksyon.com