Time to Ban Stock Trading by Congress

[ll74]

Too many Congressmen make trades and hide them. They shouldn't have access to any stock trading while in office. Period.

https://www.npr.org/2021/09/22/1039...7-house-lawmakers-didnt-disclose-stock-trades

The ethics complaints filed Wednesday are against Suozzi, Democratic Rep. Cindy Axne of Iowa, Republican Rep. Warren Davidson of Ohio, Republican Rep. Lance Gooden of Texas, Democratic Delegate Michael San Nicolas of Guam, Democratic Rep. Bobby Scott of Virginia and Republican Rep. Roger Williams of Texas.

"The lack of accountability we've seen in regard to STOCK Act compliance is basically giving elected officials the green light to buy and sell stocks based on information gained from committee meetings without any transparency for their voters," Kedric Payne, general counsel and senior director of ethics at Campaign Legal Center, said in a written statement.

 

[butters]

agree 100%

it might cut back on some of the grifters who go into politics PURELY with the intent of lining their own pockets.

 

[pecksniff]

agree 100%

it might cut back on some of the grifters who go into politics PURELY with the intent of lining their own pockets.

Who does that any more? Ever since the urban political machines died out, making money through politics is too chancy a proposition. You might go bankrupt from your first election campaign.

 

[Champakian]

In theory, I agree, but in the past, I have seen conservatives attacked
for even having stocks that were managed by third parties in a trust.



It just seems to be situational outrage.

For example: Hunter Biden...

 

[Champakian]

Everyone profits when the government is properly managed.

Even those who manage it.

 

[ll74]

In theory, I agree, but in the past, I have seen conservatives attacked
for even having stocks that were managed by third parties in a trust.



It just seems to be situational outrage.

For example: Hunter Biden...

Last I checked, Hunter Biden isn't in Congress. Maybe I need my list updated.

The current stock in the list include fairly equal representation from both parties. It's clear that there are many situations I've seen where Congressmen are able to make trades based on knowledge they are given due to their role or because of outside influcence. This should not be allowed....we should remove their inability to have any access.

Blind trust seems appropriate to me.

 

[Comshaw]

In theory, I agree, but in the past, I have seen conservatives attacked
for even having stocks that were managed by third parties in a trust.



It just seems to be situational outrage.

For example: Hunter Biden...

Come on AJ, that's disingenuous partisan bullshit and you know it. Both sides have engaged in that behavior. The problem is the regs have holes big enough to drive a logging truck through. A good example is Senator Dianne Feinstein. All her stocks are in a blind trust, but her husband doesn't have to abide by those regulations. The same goes for Senator Kelly Loeffler whose husband just happens to be the chairman of the New York Stock Exchange. While both those senators have THEIR stocks in a blind trust, neither one of their husbands are required to.

They go home and after a little pillow talk hubby makes some trades, or contacts the blind trust and let's slip what's going on.

So yeah, Hunter MIGHT have gotten a tip from his dad. MIGHT HAVE. But it isn't any different than what the majority of those in congress are doing.

The problem is that the people who are affected by those rules need to set those rules.
The fox is in charge of the hen house and if you think for a second he ain't gunna get a chicken meal because he's red rather than a silver fox, you're dumber, or more blinded by partisan politics than you should be.


Comshaw

 

[pecksniff]

For example: Hunter Biden...

Tip: When you bring him up, you've lost.