Why we need to shut down congressional stock trading
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Thats crazy. When I become President, well that cannot happen, but when I become the Dear Leader of the country, I will ban that!!
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Might be selective analysis. I know for much of 2023 I kept thinking Nvidia would be a good stock but maybe it’s due for a crash. I could’ve made lots of cash too. I’d be more interested if they showed her whole portfolio and how it compares to an average financial investor.
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Might be selective analysis. I know for much of 2023 I kept thinking Nvidia would be a good stock but maybe it’s due for a crash. I could’ve made lots of cash too. I’d be more interested if they showed her whole portfolio and how it compares to an average financial investor.
@89th said in Why we need to shut down congressional stock trading:
I’d be more interested if they showed her whole portfolio and how it compares to an average financial investor.
It's not just Pelosi, not by a long shot.
Take a dive..
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The first half of this focus on Sen. Menendez, the second half rips into stock trading by Senators and Congressional Representatives:
Link to video -
https://www.axios.com/2024/07/10/stock-trading-ban-congress-deal
A bipartisan group of senators reached a deal Wednesday on legislation to ban stock trading by members of Congress, setting the bill up for action in the Senate later this month.
The deal would immediately prohibit members of Congress from buying stocks and selling stocks 90 days after the bill is signed into law.
It would also ban member spouses and dependent children from trading stocks starting in March 2027.
Penalties for violating the law would either be the monthly salary of a lawmaker or 10% of the value of each asset they buy or sell.
The agreement was reached by Sens. Jon Ossoff (D-Ga.), Gary Peters (D-Mich.), Josh Hawley (R-Mo.) and Jeff Merkley (D-Ore.). -
Of course, there are programs that follow congressional trading and allow one to copy their trades. Amazingly, they outperform the market. This one might get fixed, but I don't know how the congress critters can't have a brother-in-law or neighbor do the work for them and then become a good friend and contribute to their campaign - or help them build a new addition.
It's kind of like the outsized influence of AIPAC, given the choice between what's good for America, what's good for world peace or what's good for Israel - one can be certain of how the votes will fall. I don't see anyone "fixing" that - just like I don't see quite how one fixes congress critters being legally unethical.
I await our AI overlords or perhaps when dolphins decide to revolt and take over the land.
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Of course, there are programs that follow congressional trading and allow one to copy their trades. Amazingly, they outperform the market. This one might get fixed, but I don't know how the congress critters can't have a brother-in-law or neighbor do the work for them and then become a good friend and contribute to their campaign - or help them build a new addition.
It's kind of like the outsized influence of AIPAC, given the choice between what's good for America, what's good for world peace or what's good for Israel - one can be certain of how the votes will fall. I don't see anyone "fixing" that - just like I don't see quite how one fixes congress critters being legally unethical.
I await our AI overlords or perhaps when dolphins decide to revolt and take over the land.
@kluurs said in Why we need to shut down congressional stock trading:
Of course, there are programs that follow congressional trading and allow one to copy their trades. Amazingly, they outperform the market. This one might get fixed, but I don't know how the congress critters can't have a brother-in-law or neighbor do the work for them and then become a good friend and contribute to their campaign - or help them build a new addition.
It's kind of like the outsized influence of AIPAC, given the choice between what's good for America, what's good for world peace or what's good for Israel - one can be certain of how the votes will fall. I don't see anyone "fixing" that - just like I don't see quite how one fixes congress critters being legally unethical.
I await our AI overlords or perhaps when dolphins decide to revolt and take over the land.
Blind trust for stock trading, I guess.
And reasonable term limits.
