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Started By
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Why Are Congressman Allowed To Participate in Insider Trading?
Posted on 2/10/19 at 10:37 am
Posted on 2/10/19 at 10:37 am
Members of Congress are allowed to buy stocks in industries then influence legislation that would have an effect on the stock values of said industries. Why is this legal? Private citizens can't legally act on information that isn't public. It's insider trading. Why are our elected officials allowed to do so?
Someone who gets money donated to their campaign from lobbyist groups can buy stock in those groups and actively shape laws that help their campaign financiers and themselves. This is low hanging fruit. Should be easy to fix.
If we really want to drain the swamp, isn't this an obvious place to start? Those in it for themselves will quickly move on if they can't participate in insider trading.
Someone who gets money donated to their campaign from lobbyist groups can buy stock in those groups and actively shape laws that help their campaign financiers and themselves. This is low hanging fruit. Should be easy to fix.
If we really want to drain the swamp, isn't this an obvious place to start? Those in it for themselves will quickly move on if they can't participate in insider trading.
This post was edited on 2/10/19 at 10:38 am
16
Posted on 2/10/19 at 10:39 am to AggieDub14
If they’ll invest some of my money along with theirs, I’ll no longer have a problem with this.
Posted on 2/10/19 at 10:40 am to AggieDub14
Frankly, Congress should abide by the same ethics regulations that the military has to.
Posted on 2/10/19 at 10:41 am to BornAndRaised_LA
How about no stock trading of any kind while holding public office? And you have to disclose all investments while campaigning. Also you must recuse yourself from any vote that would be considered a conflict of interest due to your investments in said industry.
Posted on 2/10/19 at 10:41 am to AggieDub14
Because they write the rules 
Posted on 2/10/19 at 10:42 am to AggieDub14
Posted on 2/10/19 at 10:43 am to AggieDub14
quote:
Why Are Congressman Allowed To Participate in Insider Trading?
Because some animals are more equal than others.
Posted on 2/10/19 at 10:43 am to AggieDub14
quote:They aren't.
Why Are Congressman Allowed To Participate in Insider Trading?
The insider trading exemption for members of congress was eliminated a few years ago.
Posted on 2/10/19 at 10:43 am to AggieDub14
Because guess who makes the laws governing this...
Posted on 2/10/19 at 10:48 am to AggieDub14
quote:
Members of Congress are allowed to buy stocks in industries then influence legislation that would have an effect on the stock values of said industries. Why is this legal? Private citizens can't legally act on information that isn't public. It's insider trading. Why are our elected officials allowed to do so? Someone who gets money donated to their campaign from lobbyist groups can buy stock in those groups and actively shape laws that help their campaign financiers and themselves. This is low hanging fruit. Should be easy to fix. If we really want to drain the swamp, isn't this an obvious place to start? Those in it for themselves will quickly move on if they can't participate in insider trading.
You're bringing up one of the foundational principles of learning how to be a successful Swamper. It's why I say there should be term limits and strict lobby reform which would prohibit any politician from owning individual stocks by companies who lobby congress.
Watch how quickly the Swamp boils if that legislation was ever presented to congress.
I think CEO's CFO's, COO's and the like should not be taking company stock either, there's way too much temptation to cook the books and we know it's being done all the time.
Posted on 2/10/19 at 10:51 am to LSURussian
Read the OP instead of just the title maybe?
Posted on 2/10/19 at 10:53 am to Bass Tiger
Yeah the CEO of my company now gets paid a $1 salary plus a boatload of stock. He claims the whole "I shouldn't get paid unless the shareholders get paid" but then we do stock buybacks constantly. It's pretty shady.
Posted on 2/10/19 at 10:54 am to AggieDub14
quote:
How about no stock trading of any kind while holding public office? And you have to disclose all investments while campaigning. Also you must recuse yourself from any vote that would be considered a conflict of interest due to your investments in said industry.
Sounds like common sense.
Posted on 2/10/19 at 10:55 am to AggieDub14
quote:Do a google search instead of making shite up, maybe?
Read the OP instead of just the title maybe?
quote:April, 2013
How Congress Quietly Overhauled Its Insider-Trading Law
The law wouldn't just outlaw trading on nonpublic information by members of Congress, the executive branch and their staffs.
It would greatly expand financial disclosures and make all of the data searchable so insider trading and conflicts of interest would be easier to detect.
Posted on 2/10/19 at 10:55 am to TeLeFaWx
You know what's fun? The entire OP was basically a summary of a presentation AOC gave. She may have some wacko ideas, but its proof that just because someone has bad ideas doesnt mean they are incapable of good ones too. Downvotes incoming.
AOC Talking about fricked Up Campaign Finance Laws
AOC Talking about fricked Up Campaign Finance Laws
This post was edited on 2/10/19 at 10:58 am
Posted on 2/10/19 at 10:56 am to LSURussian
Show me where I made anything up? Honestly dude you never even read the OP.
Posted on 2/10/19 at 10:58 am to AggieDub14
quote:Are you now saying your title is incorrect?
Honestly dude you never even read the OP.
This post was edited on 2/10/19 at 10:59 am
Posted on 2/10/19 at 10:59 am to LSURussian
It isnt. You're a disingenuous jackass. You never even read the OP. Just here to troll me.
Posted on 2/10/19 at 11:00 am to AggieDub14
quote:Now I know I'm right. Thank you....
You're a disingenuous jackass.
Posted on 2/10/19 at 11:00 am to LSURussian
You're a troll
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