re: So I’m a politician working in DC and I make $180k a year. For 30 years.

quote:

---

How are all these people becoming millionaires 30xs over.

---

quote:

---

s trading by Congress illegal? Should members of Congress be allowed to trade financial securities that are sensitive to private information? The “coronavirus trades” made by Sen. Richard Burr (R-N.C.) and his wife just prior to the March ’20 market crash raise these questions and signal the need for changes to the law. Some proposals go as far as banning stock trading by members of congress outright. The other extreme is to allow full discretion. The right solution is in between: Only allowing public officials to trade securities based on broad market indices.

---

quote:

---

The concern over insider trading by members of Congress is not new. Academic research shows that investment strategies that mimic trades by members of the U.S. Senate and the House of Representatives outperform the market by more than 6 percent per year. Following an investigative report revealing congressional insider trading, the Stop Trading on Congressional Knowledge (STOCK) Act was passed almost unanimously by the Senate and the House in 2012.

---