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<a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi</a> is going the private sector way as he has asked all his ministers to present ‘self appraisals’ during a meeting on June 30. 
 
This will also decide who will get what ministry, as a <a href="http://www.businessinsider.in/searchresult.cms?query=cabinet&amp;sortorder=effectivedate">Cabinet</a> re-jig is also on the cards. 
 
A top government source told TOI the ministers have been asked to make a presentation to Modi about their performance since the <a href="http://www.businessinsider.in/searchresult.cms?query=BJP+government&amp;sortorder=effectivedate">BJP government</a> presented its second budget. 
 
The ‘self appraisal’ is also crucial as two states-Punjab and Uttar Pradesh-will go for polls next year. 
 
"There was talk that the June 30 meeting may be an appraisal exercise that can lead to a cabinet reshuffle," a source told TOI. 
 
Modi has been reviewing performances of his ministers at regular intervals and has even set a deadline for infrastructure-related projects. 
 
An official said a "bitter but healthy" competition is going on among the ministries and departments to get the best rating on the MyGov portal.

The Government is going the private sector way as Modi calls for self appraisals

<keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>’s Cabinet got 19 new faces in a reshuffle and five junior ministers were dropped. With this new mathematics, the strength of Modi’s council of ministers, including him, is now 83. 
 
With one eye on Uttar Pradesh polls in 2017, the induction of 19 new faces in the junior ranks was done on the basis of 3Es-Experience, Expertise and Energy also. 
 
The Bharatiya Janata Party (BJP) is going aggressive and doing anything it can to win the power of seat in UP by playing caste card. 
 
In the re-shuffle, three ministers from UP were included in the council-Chandauli MP Mahendra Pandey (Brahmin), Shahjahanpur MP Krishna Raj (Dalit) and Apna Dal MP from Mirzapur Anupriya Patel (Kurmi-OBC). 
 
This time, Modi focussed on doers and performers, who can deliver on his vision of development and good governance. 
 
Apart from getting first time MPs on board, five junior ministers were dropped. 
 
Apparently, they did not deliver on Modi’s vision, and also because the party wants young faces in the council too. Some were even surprised to see their names in the axed list. 
 
Here are their names and portfolios they were handling 
 
 
(Images: Indiatimes, Lok Sabha)

These are the 5 ministers who were dropped from Modi’s Cabinet

<a href="http://www1.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi</a> re-shuffled his entire Cabinet and also kickstarted debates of all sorts on various issues. <a href="http://www1.businessinsider.in/searchresult.cms?query=modi+cabinet+reshuffle&amp;sortorder=effectivedate">Modi’s Cabinet rejig</a>, which is the biggest one in recent years, was done keeping an eye on assembly elections in Uttar Pradesh, which is slated next year in 2017. 
 
One of the major changes that the Cabinet saw was dropping <a href="http://www1.businessinsider.in/searchresult.cms?query=smriti+irani&amp;sortorder=effectivedate">Smriti Irani</a> as Education Minister and moving her to textiles. 
 
Even though the move was quite anticipated in the party rungs, the demotion came as a surprise to many. 
 
Irani’s exit as education minister was prompted owing to various reasons and now it is to see how she performs in textiles. One should not forget that she still is a Cabinet minister. 
 
READ ALSO: <a href="http://www.businessinsider.in/These-are-the-possibilities-why-Smriti-Irani-was-removed-from-education-ministry/articleshow/53075294.cms">These are the possibilities why Smriti Irani was removed from education ministry</a> 
 
Talking about her performance as education minister, <a href="http://www1.businessinsider.in/searchresult.cms?query=twitter&amp;sortorder=effectivedate">Twitter</a> is already giving its two-year report card of Irani. Twiiterati are mincing no words and are trolling Irani, calling her demotion as ‘one of the major reforms’ in the education sector. 
 
Read on to know how Twitter responded to her new role: 
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/hashtag/nift?src=hash">#nift</a> students in morning prayers <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a> <a href="https://twitter.com/hashtag/SmritiIrani?src=hash">#SmritiIrani</a> <a href="https://t.co/c8Wk4d0e8Y">pic.twitter.com/c8Wk4d0e8Y</a>
	— Gandalf the Fat (@Coolverine) <a href="https://twitter.com/Coolverine/status/750575613073850368">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Enjoy making dress for school students..help HRD ministry indirectly.. <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a>
	— Shubham Das (@Aakash24961) <a href="https://twitter.com/Aakash24961/status/750615854539235328">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Modi ji offered Forest Ministry to <a href="https://twitter.com/smritiirani">@smritiirani</a> ji but she refused it immediately bcoz there r lots of 'DEER' in d forest..;) <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a>
	— noshad (@noshad_raza) <a href="https://twitter.com/noshad_raza/status/750611132990287872">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a> A pall of gloom has descended over Yale and mourning has been declared over demotion of its most distinguished Alumunus
	— RKHURIA (@rkhuria) <a href="https://twitter.com/rkhuria/status/750569085226913792">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		'Dear' <a href="https://twitter.com/smritiirani">@smritiirani</a> ji, 
		just one tip about the new ministry.. 
		'there is nothing about Tax &amp; Tiles in it' 
		<a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a>
	— Vaibhav AAP (@Vaibhav_AAP) <a href="https://twitter.com/Vaibhav_AAP/status/750555614791729152">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		When journalists are not paid ones <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a> <a href="https://t.co/UYmzd0oQPL">pic.twitter.com/UYmzd0oQPL</a>
	— Abhay Dubey (@RoflAbhay) <a href="https://twitter.com/RoflAbhay/status/750552560239607808">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Indian textile development after smriti joins in as textile Ministry <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#</a><a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">ByeByeSmriti</a><a href="https://twitter.com/priyankac19">@priyankac19</a> <a href="https://twitter.com/IYC">@IYC</a> <a href="https://t.co/sHjZysct9n">pic.twitter.com/sHjZysct9n</a>
	— ☕ Tea Freak ☕ (@BhopaliChai) <a href="https://twitter.com/BhopaliChai/status/750550890415853574">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Dear aunty-national has been judged and hence shunted out to spinning ministry. <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a>
	— Shariqul Bari (@ShariqulBari) <a href="https://twitter.com/ShariqulBari/status/750383236010938368">July 5, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Woah! It turned out to be an aunty-climax...<a href="https://twitter.com/hashtag/byebyesmriti?src=hash">#byebyesmriti</a> <a href="https://twitter.com/hashtag/hrdreshuffle?src=hash">#hrdreshuffle</a>
	— Suhas Rao (@IamSuhasRao) <a href="https://twitter.com/IamSuhasRao/status/750371604316753921">July 5, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a> From Textbooks to Textiles :)
	— amitabh nigam (@amitabhnigam) <a href="https://twitter.com/amitabhnigam/status/750620031076167680">July 6, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		She missed it shooo !! <a href="https://twitter.com/hashtag/ByeByeSmriti?src=hash">#ByeByeSmriti</a> <a href="https://t.co/aDaxq49dq6">pic.twitter.com/aDaxq49dq6</a>
	— Rohith kannan (@rohithkannan) <a href="https://twitter.com/rohithkannan/status/750574428082372608">July 6, 2016</a></blockquote>
 
 
 
 
(Image: Indiatimes)

ByeByeSmriti: From Text to Textiles, Twitter is trolling Smriti Irani after she is dropped as education minister

Jack Taylor/Getty ImagesSajid Javid has resigned as UK Chancellor in a dramatic blow to Prime Minister Boris Johnson.Javid quit on Thursday as Johnson was re-shuffling his Cabinet. However, the prime minister wanted Javid to stay in his post, and had no plans to fire him.Javid resigned in protest after Johnson said all of his special advisers had to leave their positions, <a href="https://twitter.com/tnewtondunn/status/1227923285716893696?s=20" target="_blank" rel="noopener">according to The Sun's Tom Newton Dunn.</a>Javid is set to replaced by Rishi Sunak, according to multiple reports.More follows...Our Brexit Insider Facebook group is the best place for up-to-date news and analysis about Britain's departure from the EU, direct from Business Insider's political reporters. Join <a href="https://www.facebook.com/groups/267178180471848/">here.</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/oscars-academy-awards-rigged-best-picture-nominations-win-2019-2">There's a formula to winning the Oscars, and it's all in the statistics</a></h3>

Sajid Javid resigns as chancellor in a dramatic blow to Boris Johnson

<ul class="summary-list"><li><keyword id="6358680" type="UNKNOWN" weightage="60" keywordseo="Horror">Horror</keyword> <a href="https://www.insider.com/category/movies">films</a> are filled with <keyword id="10229089" type="UNKNOWN" weightage="60" keywordseo="jump-scares">jump scares</keyword>, moments that shock and startle viewers as monsters, serial killers, ghosts and even cats pop out of the darkness. But while jump scares are a very common element to include in a scary movie, they don't always work as intended, and often, you might just end up laughing instead of screaming.</li><li>To find out what goes into creating an effective jump scare we spoke with Rebekah McKendry. a <keyword id="681" type="COMPANY" weightage="60" keywordseo="film">film</keyword> professor at USC who specializes in <a href="https://www.insider.com/category/horror">horror</a>.</li><li>What makes certain scenes in "<a href="https://www.insider.com/category/the-conjuring">The Conjuring</a>," "Insidious," and "The Exorcist 3" so terrifying while others like in "Friday the 13th Part VIII: <keyword id="147180" type="PERSON" weightage="60" keywordseo="jason">Jason</keyword> Takes Manhattan" fall flat? </li></ul>Following is a full transcript of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>.Narrator: This is the reveal of the witch in 2013's "The Conjuring."Compare that to this reveal of Jason in "Jason Takes Manhattan."The first one is much scarier, but don't just take my word for it.Jason has certainly had his scary moments, but one of the main reasons "Jason Takes Manhattan" is ranked so low is because it doesn't follow the rules for making a movie scary.And while there's no exact formula, there are certain time-tested secrets you can include to create a truly terrifying jump scare, according to this woman...Rebekah McKendry: My students kind of jokingly know me as Dr. Horror. Narrator: Who has a PhD in horror.McKendry: So, jump scares are based on kind of a theory of what fear is. Fear is kind of the buildup.It's the time in between when you think something might happen to when it actually happened.Narrator: You can usually tell when a jump scare is about to happen.The lighting dims, the editing slows down, things might start moving by themselves, and the music gets, well, creepy.But those are the more obvious clues. So, what is the first thing that helps build to a jump scare? McKendry: I call it breadcrumbs. You get some type of indication that something scary may be likely to happen. The closet door opens slightly. We see a window open. There's a weird noise coming from the corner.Narrator: There are a few famous audio examples of this from classic horror. In the "Friday the 13th" series, you know something bad is about to happen when you hear Jason's...Jason: Ki ki ki ma ma ma ki ki...Narrator: Or when you hear the famous [suspenseful music] in "Jaws."But the breadcrumbs we're talking about are often more subtle, like in this scene from the 2002 film "Below." The character's reflection starts to lag in the mirror, so you begin to get that feeling that something is very wrong and that something even more scary is about to happen.Now let's take a look back at that wardrobe scene in "The Conjuring." There are several breadcrumbs that lead us to the final witch scare. We first have the sound of a closet door banging.[closet door bangs]Then the visual of the girl walking in her sleep.[closet door bangs]Andrea: Cindy?Narrator: Notice the camera hardly moves and the wardrobe never leaves the wide shot. And then we get the sound of even more banging. Only this time, the girl is back in her bed, so we know it's not her anymore.[closet door bangs][closet banging continues]Cue the creepy music.[suspenseful music]Each breadcrumb raises our level of anxiety a little bit more, like a balloon gradually getting more inflated until it finally pops. There are no specific breadcrumbs in the "Jason Takes Manhattan" scene. And, in fact, we don't even hear the classic "ki ki ki ma ma ma" until after we know Jason is already right behind them.Jason: Ki ki ki ki ki ki... Narrator: Once we see and hear these clues, that doesn't mean the scare is gonna come right away. In fact, for most great jump scares, the opposite is true. You have to make the viewer wait by dragging out the scene until the tension is too much to bear.Alfred Hitchcock famously said: "There is no terror in the bang. Only in the anticipation of it."McKendry: Once the gun is fired, the fear is done. It's over with. There's nothing left to be scared of. Once the gun is fired, the scene is over.Narrator: An effective jump scare can take time. Even the majority of the movie, in some cases. But if done right, the payoff will be well worth it.One great example of buildup is this nurse-station scene in "The Exorcist III." The camera doesn't move at all for about three minutes while nurses and security guards shuffle around. We know something is about to happen. We just don't know when, and it takes its time to get there. This scene in "Insidious" is another great example of building tension. Only instead of a single shot, we alternate back and forth between two characters for an extended period of time. The conversation goes on for about two minutes before the demon finally appears. And even though we know something is about to happen, when it does, we're caught off guard.The wardrobe scene in <keyword id="9152453" type="UNKNOWN" weightage="60" keywordseo="the-conjuring">"The Conjuring"</keyword> takes place over about two minutes after the first breadcrumb. Director James Wan lets the scene play out very slowly, with a creeping sense of dread.The scene in "Jason Takes Manhattan" is also long, about two minutes. But Jason is revealed so early on in the scene with no buildup about one minute after it starts. So the only thing we're waiting for is for the couple to see him 30 seconds later. For us as the audience, there's no tension, no anxiety.It's during this period of buildup when the best <keyword id="67897" type="PERSON" weightage="60" keywordseo="Horror-movies">horror movies</keyword> will use a distraction to further amp up the tension.Lars: Boo!Derek: Jesus Christ.Narrator: Think of this part like a magic trick. You're encouraged to look in one direction while the real threat is happening elsewhere.In this famous scene in "Jaws," we're distracted by the discovery of a tooth, and we're expecting to see a shark. Instead, we get a corpse.In "The Sixth Sense" when Cole and the audience is focusing on the closet, an arm shoots out from under the bed. One common and often overused form of misdirection is the mirror trope. Where the protagonist opens a medicine cabinet, for example. Alone at first, when it shuts, something is standing behind them. Surprise!The technique was first used in Roman Polanski's 1965 film "Repulsion" and can be found in numerous other films to this day.In "The Conjuring," both the camera and girl are focused on the closet. We think something is inside of it, ready to jump out. But in reality, the threat is actually on top of the wardrobe."Jason Takes Manhattan" doesn't even try to fool us at all. The main characters have a false sense of security.Sean: It's over.Narrator: But we as the viewer already know where the threat is the entire time. This brings us to another visual trick with jump scares. Making the audience feel more anxious by limiting what they can see. McKendry: Anything that you can do to limit the character, and through that, the audience's frame of vision, will always increase the anxiety and the scare of it.Narrator: There are two ways of accomplishing this, camera and lighting. Let's take a look at lighting first. Some common tricks are to use a camera flash, like this scene in "Mama," or a device like night-vision goggles in "The Descent" to narrow the character's and our scope of vision. Notice how much of the scene is obscured in these shots. We have very little space to feel safe.McKendry: All of these things have what we call in lighting a hard falloff, meaning there is a very sharp line between what you can see and what you can't see.Narrator: That being said, you can still have jump scares during the day. But these require a bigger buildup, as we mentioned earlier, for them to be effective.Just look at this terrifying moment in "Mulholland Drive." We don't see the creature outside the diner until after an entire three-minute-long buildup of conversation inside the diner."The Conjuring" limited how much we can see by having only one small lamp by the bed in an otherwise dark room far away from the wardrobe. Jason, on the other hand, is standing in a brightly lit Times Square, where the only time he's obscured is when two people pass in front of him. The other way to limit view is by using the camera.McKendry: It is very common in horror films to limit the character's kind of vision, their frame of reference, where they're looking through keyholes. They might be trapped in a closet and they're looking out slats of a closet. And really kind of limit how much they can see. And with that, you are limiting how much the audience can see as well.Narrator: Let's take a look at this scene in "The Shining." The camera is following Danny, so we as the audience can't see around the corners of the hall until he does, when it's too late.When Arbogast is walking up the steps in "Psycho," the camera is focused on him, so we are also blind to what's around him and what's about to happen. It creates an added sense of anxiety in the viewer.McKendry: The tighter you are and the more confined you are and the less information you have about the situation, that's when it's scary.Narrator: And camera movements can also force you into areas you wouldn't normally choose to go.McKendry: If the closet is slightly open, the camera may start pushing into the darkness slightly. The filmmaker is forcing you as the audience to get closer to it, whether you want to or not. Or, sometimes, the camera will hold perfectly still. And that in itself can be equally anxious, 'cause we're used to movement and cuts and things like that. Narrator: And when a scare finally appears, it's typically accompanied by a loud sound.This sound is known as a sting. A good example of a sting can actually be heard in the opening credits of "Insidious," a film that is full of effective jump scares. The crash accentuates the moment we are supposed to be scared. [screeching music]There's certainly a sting when the witch appears in "The Conjuring," accompanied by a camera push-in.[witch growling loudly]And there's actually two in "Jason Takes Manhattan."[air whooshing loudly]Jason: Ki ki ki ki...[screeching music]Narrator: But these are both ineffective, since we've already seen Jason. There's no peak moment of anxiety that is elevated by the sound.A sting can only work so well without a good buildup. There are numerous examples of this in horror films, where the jump scare and the loud sting come completely out of nowhere. Sure, you may be startled, but this fear won't last. "Deep Blue Sea" has a memorable jump scare with a sting, but there's no breadcrumb and no buildup. And so while the scene is certainly violent and unexpected, there's also no real fear after the shark eats him. And the absurdity of it all might just make you laugh instead. And after all of the work to build up the scare, the threat needs to hold up as well.In a lot of movies, the threat isn't real, but it can still make you jump.McKendry: Oh, my gosh, the closet door's opening, we're getting closer, closer, closer, the music's swelling, the camera's pushing in, and then it's a cat.Cats have had more jump scares in horror history than any monster ever had.Narrator: Like in "The Amityville Horror" when one just appears outside the window.One of the most famous fake scares -- it's actually not a cat -- was this bus in the 1942 film "Cat People." [bus whooshing loudly] In fact, this scene went on to inspire other filmmakers to mimic the fake scare and has become known as "the Lewton Bus technique," named after the film's producer, Val Lewton.Another famous example of this is the Pop-Tart scene in "Silent Hill." While it might make you jump, there's nothing terrifying about a Pop-Tart unless you have a gluten allergy.Horror movies are littered with these types of cheap scares, which ultimately hurt the movie as a whole because they haven't been earned and don't move the story forward. The best way to use a jump scare is to not overuse it.Too many jump scares takes away from the impact of them. And sometimes you don't even need them at all.In fact, best-picture winner "The Silence of the Lambs" doesn't even have one jump scare in the entire movie. And the classic "Texas Chain Saw Massacre" only has two.McKendry: If you're just up here the whole time, you go flat. There's nowhere else to go. And so it's all about kind of taking the audience on a roller-coaster ride of hills and loops, but not trying to keep them suspended in the air the entire time.Narrator: And when a jump scare does work well, you'll know, because you'll see it pop up again and again, replicated in newer films as a tribute to its original success and the work that went in to crafting it.

How great jump scares are made in horror movies

<div class="KonaFilter image-container display-table"><div><div class="image on-image">AP</div></div></div><ul><li>Rep. Chris Collins, a prominent backer of President Donald Trump in Congress, has been <a href="https://www.businessinsider.com/chris-collins-arrested-insider-trading-charges-2018-8" target="_blank" rel="noopener">indicted for insider trading</a>, along with his son and his son's fiancée's father.</li><li>Collins is on the board of an Australian pharmaceutical company. The SEC alleges he tipped his son about a failed clinical trial, and that the son and associates saved $750,000 by trading on the tip.</li><li>This is a really stupid thing to allegedly have done.</li><li>Why are members of Congress even allowed to trade stocks or sit on corporate boards? So they can pull this nonsense and get indicted?</li></ul> Every time I read a criminal complaint for insider trading, my first thought is, "How did they possibly think they were going to get away with this?"Of course, when there is a criminal complaint, that often means you are well on your way to not getting away with it.Perhaps insider traders seem like morons who should have known what was coming to them because what we see in the news are cases that get charged, which are the dumbest, most obvious cases of insider trading. There may be a lot of situations where criminals are being slightly more careful and getting away with it.Or maybe not! FINRA <a href="https://twitter.com/FINRA/status/1027255329413836802">would like you to know</a> they have algorithms to detect this sort of thing. I certainly recommend against insider trading, careless or otherwise.Anyway: Rep. Chris Collins, a New York Republican who gave Donald Trump his first congressional endorsement, has been indicted for insider trading in a case with an extremely obvious, how-were-you-dumb-enough-to-try-this fact pattern.<h2>Get a load of this</h2>Here's what's laid out in complaints from the Securities and Exchange Commission and the US Attorney for the Southern District of New York (Collins has pleaded not guilty to the charges):<ul><li>Rep. Collins sits on the board of Innate Immunotherapeutics Ltd., an Australian biopharmaceutical company in which he is also the largest shareholder.</li><li>One June 22, 2017, Collins learned that Innate's main drug had failed clinical trials, a grave outcome for Innate's financial condition.</li><li>Literally seconds after learning this news, Collins contacted his son Cameron, who at the time owned 2% of Innate himself.</li><li>Over the following four days, Cameron Collins and several other associates of the Collinses proceeded to liquidate their positions in Innate before the public announcement of the drug failure on June 26, after which the stock fell 92%. They saved approximately $750,000 by selling before the announcement.</li><li>Innate is not a large company. As a result, per the SEC: "The sales by Cameron Collins, his girlfriend, and her parents, including Stephen Zarsky, made up more than 53% of the stock's trading volume [on June 23] and exceeded Innate's 15-day average trading volume by more than 1,454%."</li></ul>Perhaps it is often possible to trade on insider information and have those trades go unnoticed amid a sea of non-insider trades. But if the non-public information you're trading on is likely to tank the stock price by more than 90%, and your trades are going to make up about 15 times the stock's typical daily trading volume, and your close associate sits on the company's board of directors, it is probably not best to assume that your trades will get lost in the shuffle.This leads me to a question.<h2>Is Chris Collins an idiot?</h2>If the purpose of the seven calls in seven minutes between Collins and his son that came immediately after Collins learned about the clinical trial failure was, as alleged, to tip his son so he and other associates of theirs could sell, why would Collins have thought he would get away with that?Was it because the trading wasn't on his own account, and he thought the SEC wouldn't be able to draw a link between him and [checks notes] his son - even though Collins was already under a congressional ethics investigation related to Innate?Was it because he thought he and his son could just talk the FBI into the idea that the sales had been unrelated to the clinical trial news? Oops, now Collins and his associates have also been indicted for lying to the FBI.Collins' public defense against these charges has focused on a fact prosecutors do not dispute: Even as his associates were selling, he did not liquidate his own, much larger stake in Innate. That might seem like a tiny bit of prudence in a sea of recklessness: Among other matters, Collins would have had to publicly disclose the dates and amounts of his own sales under rules pertaining specifically to members of Congress.But as the SEC complaint says, it's possible Collins didn't sell because he literally couldn't: Unlike his son, he had not completed paperwork to transfer his stock to the US, where one could trade it on the over-the-counter market. His stock was stuck in Australia, where trading of Innate on the Australian Stock Exchange had been halted - because of the impending announcement of clinical trial failure.<a href="https://www.opensecrets.org/personal-finances/net-worth/Chris-Collins?cid=N00001285&amp;year=2017">OpenSecrets estimated, based on disclosure forms, that Collins' net worth was nearly $70 million</a> as of 2015. I realize $750,000 is kind of a lot of money even if you have $70 million, but is it really worth risking the destruction of your career and, you know, prison in order to help your friends save that kind of money?I wouldn't think so. But I do have a theory: One might develop an unhealthy attitude toward lawbreaking and risk if one had previous success in enriching oneself through such an attitude.<h2>Members of Congress should not trade stocks</h2>Last January, <a href="https://www.businessinsider.com/members-congress-trading-stocks-2017-1">I wrote that members of Congress should not trade stocks</a>. I meant that as a policy proposal - that members of Congress should be prohibited from trading stocks - but the Collins incident provides a reason to take it also as investing advice.As the liberal-leaning group Citizens for Responsibility and Ethics in Washington has pointed out previously, <a href="https://www.citizensforethics.org/fifth-member-congress-bought-stock-tied-fellow-congressman/">at least five sitting Republican members of the House bought stock in Innate in 2017</a>. We don't know exactly why they bought shares in an obscure Australian pharmaceutical company, though former Rep. Tom Price (who went on to become Trump's secretary of Health and Human Services) <a href="https://www.wsj.com/articles/rep-tom-price-got-privileged-discounted-offer-on-biomedical-stock-company-says-1485800769">said he bought the stock after learning about the company from Collins</a>.Those members' investments have presumably performed quite poorly, as they did not have Price's luck of needing to divest Innate shares in order to take a Cabinet position. (There is no cause in Wednesday's complaints or elsewhere to believe Collins tipped any of his colleagues that Innate's stock was about to plummet last June.)Collins' links to Innate Immunotherapeutics had drawn negative attention before because of Collins' role overseeing drug companies as a member of the House Energy and Commerce Committee. But even favorable legislative action is not enough to make a pharmaceutical company valuable if its main drug doesn't work.So maybe we can now say a rule forcing members of Congress not to engage in individual stock trading wouldn't just be in the public interest. It may even be for those members' own good, helping them stay out of junky pharmaceutical stocks their colleagues give them "hot tips" about, and helping them stay out of prison.And I can add another proposal: Members of Congress shouldn't be allowed to serve on the boards of publicly traded companies. The SEC is seeking to apply this rule to Collins specifically, on insider-trading grounds, but a blanket ban would prevent some conflicts of interest and also some embarrassing scandals like this one. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-many-people-get-wrong-about-bitcoin-2018-7">An early bitcoin investor explains what most people get wrong about the cryptocurrency</a></h3> <div> </div> </div>

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