Correct. They use insider trading laws that they are exempt from to enrich themselves.
1 Like
As I said, this bill will probably be buried. The one thing that the dems and the R’s agree on is self enrichment while on the tax payer dime.
1 Like
Which is why “we the people” need to step up and make our displeasure known.
We elect politicians, they are supposed to work for us.
They are. But this may be the last you will hear of this bill. It’s probably as dead as Millard Fillmore.
Not if everyone calls their Congressperson and says, “Hey, I like that bill. Vote for it or I’ll vote you out of office.”
Congresspeople should be allowed to trade stocks and should be subject to the same laws as everyone else.
1 Like
They are legally subject to the same laws.
1 Like
This is an interesting topic. I guess the first thing to figure out is how many lower-middle class and lower get elected to federal office. From there you can just follow their finances. I imagine a lot of it is frankly book deals and speaking fees.
They should. But until they do, they should not be trading stocks. How about this? They have set up a pretty sweet pension for themselves to go along with their 401K. Most of us get no pension. They could offer us a pension equal to theirs. Or they can give up their pension and accept social security. If they do that, let them trade all the stocks they want.
And market trading.
“Trading” stocks has to be defined, probably something along the lines of day traders, and there is no reason they can’t “Own” stocks. Problem is, they go to congress, and suddenly are rubbing elbows with all kinds of major influencers and uber rich and just running in completely different circles. Hang out with those folks long enough and you will be offered deals and you will learn how they do what they do by osmosis. You are not going to stop them from enriching themselves, it just goes with the territory, and is it even right to stop someone from improving their lot in life?. The best we can hope for is to avoid insider trading Obama signed a bill for that a long time ago. Has it been wiped out?
And giving them selves more power
1 Like
As demonstrated by that sweet assed pension and insurance plan that they have given themselves and have kept from us.
I think you might be mistaken on the insurance plan.
When they talk about the “Cadillac” insurance plan that congress has, what do you suppose they mean?
If you are on vacation and get ill, are you permitted to stroll on to the closest military base for free treatment? Do you get a 72 percent federal subsidy on your premium? What about your work doctor? Who is the doctor your company provides to you while at work?
The one place you will never find your congressman is behind you in line, in your doctors waiting room.
1 Like
I can get the same plan.
Who told you that?
If you are on vacation and get ill, are you permitted to stroll on to the closest military base for free treatment? Do you get a 72 percent federal subsidy on your premium? What about your work doctor? Who is the doctor your company provides to you while at work?
The one place you will never find your congressman is behind you in line, in your doctors waiting room.
How about instead of creating a new law simply enforce the ones on the books.
What Burr and Feinstein and the other lady (whose name I’m forgetting but is married to the NYSE chair) did was pretty much the standard definition of insider trading.
Throw the book at them.
Nobody told me, I looked at a lot of plans before choosing mine and the top tier plans available to me, if I were able to pay that much, were friggin unbelievable. Most people who make close to two hundred thousand salary are going to have similar plans.
The problem is that we do not prosecute high ranking government officials. “That’s not who we are.”
