A suggestion I once saw I would also accept is to require all members of Congress investments to be 100% public in real time. So at the very least you can ride along.
There would need to be something with family too, as you know they'd have no problem just having their kid do the trades and give 10% to the big guy.
"Making" money from buying and selling is always a game of the bigger idiot. The system doesn't work unless there's a bigger idiot willing to pay more than something is worth, or willing to sell for less (sometimes not due to being an idiot but merely desperate... of course, they became desperate somehow...).
If they were all public trades, there would be no reason to be on anything other than the winning side, so there would be no suckers to make up the difference.
Therefore making insider trading as a congressman generally useless. There'd still be idiots to take money from otherwise, but Congress ability to do so would be extremely limited.
insider trading is the reason being a US politician is so lucrative. with insider trading being legal for us politicians, drifters and schemers are attracted to office. the kinds of people who would vote to extend a war because they hold stock in defense contractors, and the kinds of people who would advance gas car bans just after investing a ton in EVs.
there's no chance in hell it passes, but at least someone in Congress recognizes the issue.
I think we could get by with less drastic solutions. Allow them to buy and sell stocks BUT it's limited to the same basic funds that are accessible from government employee's retirement accounts and/or 105b-1 them like C-suites. They can buy/sell something but on a pre-defined, publicly disclosed schedule.
Allow things like "every 6 months, I want to put $X into the SP500," but no targeted trading either in selection or time. I say this not out of some concern for congressional scumbags, but if you don't at least let them invest the same way a mailman can, it's goes to making office a rich man's game (even more so than it is) and giving them a justification for finding other ways to enrich themselves. And if they're not fully excluded, it has a better chance of passing.
Let them buy into some passive whole market funds. At least that way they have to enrich the economy to enrich themselves.
A suggestion I once saw I would also accept is to require all members of Congress investments to be 100% public in real time. So at the very least you can ride along.
There would need to be something with family too, as you know they'd have no problem just having their kid do the trades and give 10% to the big guy.
"Making" money from buying and selling is always a game of the bigger idiot. The system doesn't work unless there's a bigger idiot willing to pay more than something is worth, or willing to sell for less (sometimes not due to being an idiot but merely desperate... of course, they became desperate somehow...).
If they were all public trades, there would be no reason to be on anything other than the winning side, so there would be no suckers to make up the difference.
Therefore making insider trading as a congressman generally useless. There'd still be idiots to take money from otherwise, but Congress ability to do so would be extremely limited.
insider trading is the reason being a US politician is so lucrative. with insider trading being legal for us politicians, drifters and schemers are attracted to office. the kinds of people who would vote to extend a war because they hold stock in defense contractors, and the kinds of people who would advance gas car bans just after investing a ton in EVs.
there's no chance in hell it passes, but at least someone in Congress recognizes the issue.
They can't, but their wives and children can. That orphanage with no orphans can. That place in the Caribbean he owns a share in can.
Whoa Whoa Whoa.
I don't want it banned, I want it publicly available.
Why?
I want to use her investments as a guide so I can get my tax money back.
I want to be able to use collective action to short her investments when she decides to play games.
I think we could get by with less drastic solutions. Allow them to buy and sell stocks BUT it's limited to the same basic funds that are accessible from government employee's retirement accounts and/or 105b-1 them like C-suites. They can buy/sell something but on a pre-defined, publicly disclosed schedule.
Allow things like "every 6 months, I want to put $X into the SP500," but no targeted trading either in selection or time. I say this not out of some concern for congressional scumbags, but if you don't at least let them invest the same way a mailman can, it's goes to making office a rich man's game (even more so than it is) and giving them a justification for finding other ways to enrich themselves. And if they're not fully excluded, it has a better chance of passing.
Let them buy into some passive whole market funds. At least that way they have to enrich the economy to enrich themselves.
"By all means, go ahead. I don't buy stocks, I buy option-derivatives."
Unfortunately it allows husbands and wives to continue trading off inside information until 2027.
All Nancy’s alleged fraud was through her husband