Lawmakers should not be allowed to trade stocks
this post was submitted on 26 Jan 2024
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I know Pelosi is one of the magats' favorite talking points, but last time I saw Pelosi's market gains posted, she wasn't even in the top 10 of Congressfucks rigging their investments, and it wasn't close to being a one party issue.
What the right doesn't get is that the left wants this corruption to stop, even when the corruption is from the same side. The GOP only wants the other side to be held accountable
the left wants this corruption to stop, even when the corruption is from the same side
This is very confusing. The left absolutely does want it to stop but centrist Dems do not. The left is not on the same side as Pelosi.
I was talking about the voting base, and how dem voters are willing to criticize the dem electorate, while GOP voters (even leaving MAGA aside, bc they're a lost cause to the cult) don't hold their representatives accountable.
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Maybe the left like you and me do, on the ground, but I guarantee that lawmakers on both sides of the aisle are just fine with how things are right now.
Yeah I was thinking more about left voters instead of pols. Almost everyone in congress is fine with the corruption. But right wing voters hardly ever criticize their own, let alone the maga cultists
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It’s that part of the fascist playbook where the enemy is weak and dangerous at the same time.
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Well considering she made the purchase a couple weeks before there was an announcement of a new chip plant in China. The game is rigged folks.
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Making money isn't the problem, insider trading is the problem. Did she do something as a congressperson that gave her inside knowledge of how AI was going to blow up Nvidia stock?
If not this is a non story.
Last time she bet on Nvidia was right before she voted on passing the chips act which directly benefited Nvidia. Thats why this is a story.
I think that the concern would be less her vote -- she's just one vote -- and more that she knows how legislators, more-broadly, are going to vote.
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Nah, see, the reality is the stock market is a fundamentally manipulatable thing that is weakly coupled to anything.
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I am not saying politicians aren’t routinely filling their pockets with insider information but most people who have an interest in at ai could have seen this coming. I am simply not rich enough to join the game and make profit.
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Quick, ask her again if representatives should be able to trade stocks.
Remember when the bill to ban stock trading well was tabled so Democratic leadership could introduce a bill to ban stock trading poorly and then that bill was quietly delayed until after the Democrats lost the house?
https://www.nytimes.com/2022/09/30/us/politics/stock-trading-vote-congress.html
Not really a bet, when you control the rules of the game.
Anyone with Nvidia stock made a stupid amount of money.
Not everyone who has Nvidia stock has a hand in policy that influences stock prices.
What legislation involved nvidia?
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Stop voting for these people you fucktards.
Stop voting for who? Democrats? Republicans? Politicians? Insider trading is effectively legal in congress, no matter your party affiliation.
We need a complete overhaul. But we still need to keep voting. Progressives at least favor improvements to the system itself, so if you mean "vote progressive instead of these others", then I agree.
vote progressive instead of these others
Yes, this.
It turns out the two party system is sort of like a hostage situation
The (already rich) members of Congress get to break the law and commit insider trading whenever they want. If you COULD commit insider trading, they would throw your ass in jail.
It's a big club and you ain't in it.
How do 80 year olds know what stocks to buy and I don’t?
She married a man in college who would later become the owner of an investment firm. Have you tried doing that?
Because they get all the insider info that they are legally allowed to use for investment strategies which commoners are not.
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They're in a job where they often are the first to hear significant public info that will affect the markets. This lets them make stock deals to their benefit before anyone else.
If they're being scummy, they use info that isn't public.
Progressives in the DNC are pushing for this to be reformed, so that's the best path for change.
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Eat the rich.
Those in Congress should not be able to trade stock
Girlboss financial crimes 💅
What's the crime? anyone who follows the market knows people have been drooling over nvidia for a long time now.
There is a lot of financial crime in congress, but this isn't it. Heck, even I knew to buy Nvidia.
Other countries should be following our great example. Not only do we have the best legislators, but in their spare time they are also financial geniuses, doubling their salary easily. Other countries are envious that our government workers are so efficient and financially savvy.
You sure it wasn't her Husband that did that? I mean it is what he does as his job.
He probably gave her advice based on what would likely be happening in Congress.
And again I ask what legislation affected nvidia stock?
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