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Similar from yesterday: https://news.ycombinator.com/item?id=26807695 https://news.ycombinator.com/item?id=26807695 HN can't see the forest for the trees. Tra
by BrianOnHN 6y ago
Similar from yesterday: https://news.ycombinator.com/item?id=26807695 https://news.ycombinator.com/item?id=26807695
HN can't see the forest for the trees.
Trading isn't the issue.
Why are our top elected officials not compensated enough? Income inequality. If it isn't trading, they'll chase Bezos until they "get what they deserve" one way or another.
- mattnewton 6y agoHonestly some of these trades also seemed small to me; anyone can make a trade that’s up 30% in a year with public information - they can also easily lose as much. It is only problematic when they consistently win by large percentages on the majority of their trades, and this doesn’t appear to do that kind of statistical analysis of average returns?
- BrianOnHN 6y ago> this doesn’t appear to do that kind of statistical analysis of average returns? Exactly, and you had to be really unlucky not to have significant returns over the past year. Has anyone looked at their managed retirement find lately? I wouldn't be surprised if you see 30% even in a medium-risk fund.
- michaelmrose 6y agoOur top officials are compensated to the tune of 174,000 which is 95th percentile. Making people wealthier doesn't make them more honest.
- sakopov 6y agoAre you saying that these insane leveraged trades won't be happening if elected officials are compensated more? That is a preposterous assumption! You're right, trading isn't the issue. Greed and abuse of power are, however.
- the_optimist 6y agoYour theory: If you pay Pelosi more, she'll stop insider trading. On top of her +$100M net worth, where her salary pales in comparison to trading gains. You just have to pay people more so they stop abusing the system. Found the Congressperson here.