Crime Pelosi rejects stock trading ban for Congress

[panamaican]

I agree with her. Congress members and their staff shouldn't be banned from participating in the stock market just because they're in Congress. But a stronger enforcement regimen is needed. I say that fully aware of how difficult it is going to be to craft a system that monitors and then has the power to investigate and punish this type of behavior.

 

[Rygu]

I say that fully aware of how difficult it is going to be to craft a system that monitors and then has the power to investigate and punish this type of behavior.

You just answered why they shouldn't be allowed to. They're already paid comfortably, have an excellent pension, it isn't possible to regulate what they buy, when they buy and when they sell.

 

[aitkenmike]

You know damn well most of them took advantage of that Moderna 2500% share increase between Feb 2020 and Sept of this year. Put in 100k get out with 2.5 million.

I'm sure the NZ PM was in on that sweet deal to given her salary vs her net worth too

? So corrupt she invests in the Moderna vaccine to make so much illegal money, then presides over an exclusively pfizer rollout? Definite stable genius.

 

[Revolver]

Nothing will change until these boomers are out of office. They care more about their bank accounts then the people they're supposed to represent.

 

[Rygu]

? So corrupt she invests in the Moderna vaccine to make so much illegal money, then presides over an exclusively pfizer rollout? Definite stable genius.

You think the population of NZ is affecting Moderna price action much? If I was invested in Moderna and was her I'd definitely choose Pfizer, the perfect way to keep anyone from sniffing around. At least that's what a smart person would do.

 

[Jkillah]

I don't expect them to stop, but can they just publicize what their stocks are and give us 24 hours advance notice on any purchases and sales they plan to do?

 

[Topguntrophey]

Its not just her, its almost all of them. To be fair, this could have been done over many years and leaders from both parties.

Sad sad state....

 

[plataoplombo]

Some plays are pretty obvious and anyone following the news would've benefited from buying stocks in these pharmaceutical companies. It's the more low key ones that people aren't following that we should be concerned with.

I do think that any trades they make over $600 should be made public.

 

[Cubo de Sangre]

The only way to get term limits and money out of politics is amending the Constitution. Good luck with that. Would probably need it to be through Constitutional Convention, or a serious threat thereof.

 

[Rygu]

Its not just her, its almost all of them. To be fair, this could have been done over many years and leaders from both parties.

Sad sad state....

Of course it's done by both parties. It's probably the majority of all Dems/Reps

 

[Ice That Jaw]

Our members of congress are investing geniuses.

It is sad to point out that those hedge funds are still using the carried interest loophole to file the majority of their income under longterm capital gains. So they pay lower taxes than a teacher on most of their income.

And the Dems ain't gonna fix it.

 

[ElKarlo]

I am still pissed over all of them dumping stock after the COVID meeting.
My portfolio took a big hit after that meeting. I wish I got the same heads up or related to someone in that meeting, like the one Senator who called his brother in law who also dumped his stock.
The crazy part is not a damn thing happens to the law breakers, so why change their behavior, because basically whatever team your own, the other teams media will run with the story for a couple days, your teams media will barely touch it, and then both teams media move on to the next story. So take a couple days worth of heat, get reprimanded, play dumb and then make stacks. Anyone would make that trade off.

This should be put on a ballot and not be under their jurisdiction. We should be allowed to fix how much these politicians make and also have no competes. They can’t just retire and get some sweet gig at a bank or a MIC company.
We should be allowed to tell them that.

 

[Mark Hunts FIST]

Term limits.
Fuck these government grifters.

 

[Broken arrow]

There should be outrage from both parties… this should be something we come together around

Instead we will keep screaming at each other over Biden’s dementia and Trumps mean tweets

 

[MrFeeny]

One of the few things I wholeheartedly agree with AOC on is that she thinks Congress should be banned from trading. They have too much power and influence and insider info that it makes it unfair to us little people.

 

[Terry Noonan]

I agree with her. Congress members and their staff shouldn't be banned from participating in the stock market just because they're in Congress. But a stronger enforcement regimen is needed. I say that fully aware of how difficult it is going to be to craft a system that monitors and then has the power to investigate and punish this type of behavior.

Mutual funds… blind trusts…. Finance and accounting have more restrictions than government legislators it’s a joke.

 

[panamaican]

You just answered why they shouldn't be allowed to. They're already paid comfortably, have an excellent pension, it isn't possible to regulate what they buy, when they buy and when they sell.

You need a very compelling reason to tell people, even members of the government, that they aren't allowed to participate in the economy. No one has presented one.

What is being presented is that because we know that many members are breaking the law, all of the non-law breakers shouldn't be allowed to invest either. That's not a strong enough reason to punish those members of Congress who are following the rules.

 

[HereticBD]

You need a very compelling reason to tell people, even members of the government, that they aren't allowed to participate in the economy. No one has presented one.

I'd say unchecked government corruption is a very compelling reason. You say there needs to be more enforcement for law breakers within the government, but who is in charge of the enforcement? Oh' that's right, the government.

Jesus...

 

[panamaican]

I'd say unchecked government corruption is a very compelling reason. You say there needs to be more enforcement for law breakers within the government, but who is in charge of the enforcement? Oh' that's right, the government.

Jesus...

Spoken like a Canadian, lol. Congress has no power over enforcement. That falls within the Executive branch.

But that's still not an argument for taking something away from people who have not committed a crime. The newly elected Senator from New Mexico who has done nothing wrong -- what is the reason that person should be excluded from the free market?

 

[DespicablePeep]

You need a very compelling reason to tell people, even members of the government, that they aren't allowed to participate in the economy. No one has presented one.

What is being presented is that because we know that many members are breaking the law, all of the non-law breakers shouldn't be allowed to invest either. That's not a strong enough reason to punish those members of Congress who are following the rules.

Strong reason? They make laws that affect the market directly, before hand they know how markets will react.

"For example, Pelosi became the subject of a meme after it was revealed that Paul, her husband, had exercised CALL options to buy 4,000 shares of Alphabet just before an antitrust vote involving the firm in the House Judiciary Committee, making about $5.3 million in the process."

https://finance.yahoo.com/news/nancy-pelosi-stock-portfolio-10-133549340.html