Billions in taxpayer money from average New Yorkers weren’t enough for some Amazon execs, no siree. According to the WSJ, a number of Amazon execs apartments in Queens ahead of the big announcement and an expected rise in real estate prices:
Some Amazon staff bought apartments in Long Island City just before the news came out that Amazon was likely moving there https://t.co/3jiHuzYEZl
— Rachael Levy (@rachael_levy) November 20, 2018
And swindling the sellers of those apartments because you have insider knowledge of the transaction is apparently legal:
Wow — "While employees aren’t permitted to buy and sell stocks based on nonpublic information, several real estate lawyers said they were aware of no such prohibition for real-estate transactions."
— Suzy Khimm (@SuzyKhimm) November 20, 2018
Amazon just invented “real estate front-running”:
Real estate front running…
— Marc Leibowitz (@Marc_Leibowitz) November 20, 2018
We do wonder if this violated some sort of Amazon internal policy, however:
I'm unreasonably bothered by this. I know it's not insider trading… but c'mon… https://t.co/qvRVWSeIoV
— Sarah Rabil (@srabil) November 20, 2018
WELCOME TO THE NEIGHBORHOOD JEFF BEZOS:
And so it begins. Absolutely horrendous what’s going to happen to that neighborhood. https://t.co/sGOeUxcwIl
— Erick Fernandez (@ErickFernandez) November 20, 2018
Someone, please video Alexandria Ocasio-Cortez when she reads this article because her reaction — rightfully so on this one!!! — will be epic:
While there isn’t enough money for hot water in NYCHA, we’re giving $3 billion away to Amazon.
“Ocasio-Cortez called the Amazon deal “dressed-up trickle-down economics.”
“What we’re seeing here is a complete public cost for a private corporate benefit.” https://t.co/kXimyE5RRi
— Alexandria Ocasio-Cortez (@Ocasio2018) November 17, 2018
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