House Speaker Nancy Pelosi, D-Calif., said Wednesday the House is making progress on legislation to curb stock tradings in Congress, but added that she’s insisting any stock legislation apply to the Supreme Court too.
The SCOTUS is a lifetime appointment. She’s lost her freakin’ mind!
Well umm her and Biden are lifetime apt duhh?
Kidding of course. Just create a compliance dept for the Supreme Court……
Why? We can’t trust SCOTUS justices to follow the law?
We can but compliance dept don’t just just look for intentional acts. They look for overlap.
If this is all about Thomas Then it’s beyond silly.
Overlap of what?
Decisions and stock ownership. Negligent “ascension to wealth”
Come on man! These are the final arbiters!
I think it’s about Thomas. I am not a fan of his. I think you called my dislike of him - pathetic and palpable hatred but this is silly if that’s why she is pushing it. He is not the only one. Ephors act in their own interest all the time
Meh. I’m good with it. Arguably the SC can benefit even more from their rulings than congress can from passing legislation.
Serving on the Court is a privilege they can decline.
Congress can pass laws that can have an effect on stock 20 years down the line especially when the law instructs a secretary to promulgate regulations.
True, but a SC ruling can cut across space, time, and industry.
But let us agree: nobody in government should be in a position to benefit so directly from their work as from stock trading
I’m lost as to why a lifetime guaranteed income makes a SCOTUS justice more in need to build wealth via stock trading than a transient government position.
If they feel that their position is limiting ther prospects can’t they just resign and move along?
That said this is a sandbag move by pelosi to sink the initiative.
Ah. Good point.
I think the correct description is “poison pill”.
That’s the phrase. Looking at my handicap trends I should have recognized my error!
Accept an appointment, never trade stocks again?
That’s the proposal. It’s a tough ask… similar to the consequences to a 2-3 term senator.
But if the premise is that financial gain is what corrupts the system (not my position) it may as well apply to everyone in power.
Doesn’t matter. You made a good point.
Don’t be silly. Resign and trade away to your heart’s content.
The following was originally made in response to the recent Federal Judicial recusal scandal, NOT in response to Congressional stock trading proposals.
But it clearly shows that Federal Judges should be dealt with even more strictly than Congress. Federal Judges have much better pay and the cushiest retirement package you can possibly have. Any stock trading proposal MUST cover the Federal Courts.
Excerpt from Federal Judicial pay chart:
Year District Judges Circuit Judges Associate Justices Chief Justice
2022 $223,400 $236,900 $274,200 $286,700
2021 $218,600 $231,800 $268,300 $280,500
2020 $216,400 $229,500 $265,600 $277,700
2019 $210,900 $223,700 $258,900 $270,700
2018 $208,000 $220,600 $255,300 $267,000
2017 $205,100 $217,600 $251,800 $263,300
2016 $203,100 $215,400 $249,300 $260,700
2015 $201,100 $213,300 $246,800 $258,100
2014 $199,100 $211,200 $244,400 $255,500
2013 $174,000 $184,500 $213,900 $223,500
Full chart is at the link.
Without going into details, court cases in 2012 and 2013 resulted in Federal Judges receiving essentially Constitutionally mandated cost of living pay adjustments beginning January 1, 2014.
Federal Judges receive their full pay for life. If they outright retire, it locks in at the pay rate of the year they retired. However, most Federal Judges never truly retire, but instead take inactive senior status, meaning their pay keeps adjusting each year until their death. On top of that, an available survivor benefit provides a lesser but still substantial yearly income to their spouse until the spouse’s death.
Given the guarantee of a very substantial income until death, I support Democratic proposals which would severely limit the investment options of Federal Judges to mutual and index funds, prohibiting trading in all forms of stocks, bonds and commodities. It would also require detailed public disclosures from Federal Judges each year, such details to be posted where the public can easily see them.
This would solve the recusal problem, as well as remove any doubts as to whether a Federal Judge has any ulterior motives in their rulings.
Yep, standard poison pill
