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Nancy Pelosi’s story is her husband does the stock trading without her involvement (or even her knowledge prior to her regular reports to Congress about trading

Nancy Pelosi’s story is her husband does the stock trading without her involvement (or even her knowledge prior to her regular reports to Congress about trading activity). If true (and assuming she’s not giving privileged info to her husband), that means no insider trading. Having said that, I really think Congresspeople should be prohibited from trading in individual stocks entirely, and restricted to just investing in index funds, if for no other reason than the PR problem of congresspeople appearing to profit off of their position.

nzrf 5y ago
Wish we could see something like that happen, but you are going to need some representatives to vote against their best interest. Kind of like why run off voting will never see the light of day.
- fedreserved 5y ago
  Bump their salary's up to a $1,000,000 a year and they may consider it b4 hyperinflation takes place
- gnopgnip 5y ago
  The voted to pass the STOCK act, requiring disclosing these trades within ~30 days
  - ycombobreaker 5y ago
    30 days? That's some bullshit. Legislators trading based on closed-doors meetings related to "national security" (covid briefings) or even pending market-moving legislation should be on par with insider trading. It's not, and they will never collectively vote against their interests, to use their information for personal gain.
    - gnopgnip 5y ago
      That is all on the table. The SEC can convict federal government employees of securities fraud for trading on this type of insider info
analog31 5y ago
I'd like to see them required to make their portfolios open to the public in real time. That way, the rest of us could invest in an index fund based on congressional investments, and share in their success.
- ocdtrekkie 5y ago
  That's heavily assuming Congresspeople are successful at investing. Assuming insider trading is still illegal for Congresspeople, you will have a hard time picking between "people not insider trading, good at picking stocks though", "people not insider trading, bad at picking stocks", "people who are insider trading, and actually good at it", and "people who are insider trading, but still make terrible choices". Good luck.
  - ashtonkem 5y ago
    Most traders suck at trading, if a congress person with no financial history starts beating the market, I’d bet a lot that they’re cheating.
    - loopz 5y ago
      If they're shorting or just holding for a short time it's trading. Otherwise long-term positions are investments.
rorykoehler 5y ago
Ye, that is just a ridiculous excuse. I agree that the option too be tempted should also be removed.
User23 5y ago
I’m under the impression that representatives are legally incapable of insider trading. Being in the congress privileges them to use the information they hear during speech and debate as they see fit.

nzrf 5y ago

Wish we could see something like that happen, but you are going to need some representatives to vote against their best interest. Kind of like why run off voting will never see the light of day.

fedreserved 5y ago
Bump their salary's up to a $1,000,000 a year and they may consider it b4 hyperinflation takes place
gnopgnip 5y ago
The voted to pass the STOCK act, requiring disclosing these trades within ~30 days
- ycombobreaker 5y ago
  30 days? That's some bullshit. Legislators trading based on closed-doors meetings related to "national security" (covid briefings) or even pending market-moving legislation should be on par with insider trading. It's not, and they will never collectively vote against their interests, to use their information for personal gain.
  - gnopgnip 5y ago
    That is all on the table. The SEC can convict federal government employees of securities fraud for trading on this type of insider info

analog31 5y ago

I'd like to see them required to make their portfolios open to the public in real time. That way, the rest of us could invest in an index fund based on congressional investments, and share in their success.

ocdtrekkie 5y ago
That's heavily assuming Congresspeople are successful at investing. Assuming insider trading is still illegal for Congresspeople, you will have a hard time picking between "people not insider trading, good at picking stocks though", "people not insider trading, bad at picking stocks", "people who are insider trading, and actually good at it", and "people who are insider trading, but still make terrible choices". Good luck.
- ashtonkem 5y ago
  Most traders suck at trading, if a congress person with no financial history starts beating the market, I’d bet a lot that they’re cheating.
  - loopz 5y ago
    If they're shorting or just holding for a short time it's trading. Otherwise long-term positions are investments.

rorykoehler 5y ago

Ye, that is just a ridiculous excuse. I agree that the option too be tempted should also be removed.

User23 5y ago

I’m under the impression that representatives are legally incapable of insider trading. Being in the congress privileges them to use the information they hear during speech and debate as they see fit.